05:35:18 EDT Mon 26 Aug 2019
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or Name

Ridgestone Mining Inc
Symbol C : RMI
Shares Issued 23,137,347
Close 2018-06-27 C$ 0.27
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Ridgestone forms Mexican subsidiary

2018-08-16 09:49 ET - News Release

Mr. Ron Birch reports


Ridgestone Mining Inc. has established a 100-per-cent-owned Mexican subsidiary, Cerro de Oro Minerales SA de CV, to facilitate its mineral exploration and development activities in Mexico.

Initial efforts will focus on the Rebeico gold and copper project which the company has optioned from YQ Gold de Mexico SA de CV, giving it the right to earn a 100-per-cent interest, as previously announced.

YQ Gold will be the initial operator of the project given its team's extensive experience and success in mineral exploration in Sonora. The YQ Gold team includes Alfonso Daco, Francisco Navarro and Jonathan George.

Alfonso Daco, BSc (geology), has worked in the mineral industry for over 45 years and held senior positions with numerous prominent companies. From 1972 to 1992, Mr. Daco was president of Campbell Resources' Mexican subsidiary and his team was credited with the discovery of the La Colorado gold mine in Sonora, currently owned and operated by Argonaut Gold, where over two million ounces of gold and 18 million ounces of silver have been delineated. Mr. Daco and his teams have also been credited with the discoveries of the El Castillo gold mine (over one million ounces of gold) and the Lluvia de Oro/La Jojoba gold mine (over half a million ounces of gold).

Francisco Navarro, BSc (geology), has been fully engaged in all facets of mineral exploration, development, acquisitions and negotiations for over 30 years. Mr. Navarro has held numerous executive and managerial positions with foreign and local companies. Mr. Navarro was a key member of the teams that led to the discoveries of La Colorado, Cuatro Hermanos (over one billion pounds of copper and 100 million pounds of molybdenum) as well as the El Castillo and Lluvia de Oro/La Jojoba gold mines. Mr. Navarro's deep roots within the Mexican mining community, particularly Sonora, are invaluable to the acquisition, advancement and development of exceptional mineral projects.

Jonathan George, BSc (geology), has been active in mineral exploration, development and resource capital markets for over 35 years, with extensive experience in Mexico. As the president, chief executive officer and co-founder of Creston Moly Corp., Mr. George was instrumental in the acquisition and development of Mexico's largest molybdenum deposit, resulting in a mineral resource valuation of $560-million and an ultimate merger with Mercator Minerals worth $178-million.

Erwin Wong, director and chief financial officer, commented, "Given their depth of expertise and familiarity with conducting mineral exploration in Mexico, we are very fortunate to have YQ's team manage our exploration program and are confident that they will be very successful in advancing the promising Rebeico gold-copper project."

About Ridgestone Mining Inc.

Ridgestone is a TSX Venture Exchange-listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico gold-copper project.

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