Mr. Mike Harp reports

RIDGELINE MINERALS PROVIDES 2023 EXPLORATION UPDATE

Ridgeline Minerals Corp. has provided an update on the company's 2023 exploration programs and corporate strategy across its portfolio of six projects in Nevada and Idaho totalling 192 square kilometres. The company intends to spend $2-million on direct drilling and exploration costs through the remainder of the year with the proposed capital allocation detailed below.

Mike Harp, Ridgeline's vice-president, exploration, commented: "We anticipate multiple catalysts across the Ridgeline portfolio this year, including a third phase of fully funded drilling at the Swift project by our earn-in partners, Nevada Gold Mines. However, our team's focus will be the continued delineation and expansion of the high-grade Chinchilla zone at our 100-per-cent-owned Selena project. Last fall, our first diamond core program at Selena returned the best drill intercepts in the company's exploration history and significantly upgraded all metal values when compared to previously drilled RC holes nearby. This not only represents an opportunity to upgrade the existing mineralized footprint at Chinchilla, but also improved our understanding of the orientation of key feeder faults controlling chimney-style CRD mineralization. Our next phase of core drilling will commence in July, where we will expand the known upper oxide horizon as well as test these mineralized feeder faults at depth where they crosscut more than 400 metres of untested and highly prospective carbonate host rocks."

Selena project

The company will complete a proposed five-hole, 3,000-metre drill program scheduled to begin in early July:

• Drilling will target high-grade silver-gold-lead-zinc mineralization at two known chimney targets at the Chinchilla zone with highlight intercepts from the 2022 core program returning 6.1 m grading 480.5 grams per tonne (g/t) silver, 18.4 per cent lead and zinc and 0.1 g/t Au within 32.5 m grading 153 g/t Ag, 4.1 per cent Pb-Zn and 0.1 g/t Au in SE22-045 (see Jan. 24, 2023, press release).
• Core drilling will confirm previously drilled reverse circulation (RC) drill intercepts in the upper oxide horizon as well as test down plunge of the projected feeder faults for additional zones of stacked mineralization within the Guilmette limestone host.
  • Drill holes will range from 300 m to 650 m depth.

Swift project

Nevada Gold Mines (NGM) (Swift project operators) has confirmed that the next phase of framework drilling is scheduled to begin in early Q3 2023 pending drill rig availability:

• Framework drilling will follow up on encouraging 2022 drill results, which included a highlight intercept of 48.8 m grading 0.45 g/t Au, 0.98 g/t Ag starting at 667.5 m, including 3.4 m grading 1.92 g/t Au in SW22-003 (see Feb. 16, 2023, press release).
• A total of $5,034,639 (U.S.) in qualifying work expenditures has been spent on the project through Q1 2023 and NGM has satisfied the minimum guaranteed work commitment of $4-million (U.S.) ahead of the scheduled deadline of Dec. 31, 2023.

Big Blue project

The company's technical team has completed additional fieldwork this spring in the vicinity of the historic Delker mine and Skarn Hill adits. Highlights include:

• The collection of 14 rock chip samples taken from historical test pits located parallel to and along strike of the Delker mine:
  • Test pits were excavated to one to three m vertical depth by operators in the early 1900s.
• The collection of 11 continuous trench samples across the Delker mine adit face:
  • Seven continuous trench samples across the largest test pit exposure on the property.
• The identification of multiple copper-oxide-bearing felsic dikes that parallel the Delker mine trend and significantly increase the mineralized footprint at Big Blue.

Carlin-East and Bell Creek projects

Ridgeline views both projects as strategic land positions on the Carlin trend located directly adjacent to Nevada Gold Mines' owned and operated gold deposits at Ren (1.6 million ounces Au at 1.66 g/t Au) and North Leeville (one million oz Au at 11.3 g/t Au):

• The company is currently assessing potential partnership opportunities to advance exploration at both projects.

Robber Gulch project

Company has identified multiple outcropping shallow oxide targets to be tested with its in-house backpack drill rig in Q3 2023 pending approval of a U.S. Forest Service notice of intent permit:

• Highest-priority target is located approximately 500 m south of and on strike of historic drill hole AC-4 (0.34 g/t Au oxide over 57.9 m) where the team intends to drill a 10 to 15 m backpack drill hole beneath outcropping jasperoid that has returned rock chip samples grading up to 6.7 g/t Au.

Quality assurance/quality control procedures

Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nev., which is a certified and accredited laboratory, independent of the company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nev. Samples are prepared using industry-standard prep methods and analyzed using FA-PB30-ICP (Au; 30-gram fire assay) and ICP-5AM48 (48-element suite; 0.5-gram five-acid digestion/inductively coupled plasma mass spectrometry) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline's QA/QC program includes regular insertion of certified reference material standards, duplicates and blanks into the sample stream with a stringent review of all results completed by the company's qualified person, Mr. Harp, vice-president, exploration.

Technical information contained in this news release has been reviewed and approved by Mr. Harp, CPG, the company's vice-president, exploration, who is Ridgeline's qualified person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery-focused precious and base metal explorer with a proven management team and a 192 square km exploration portfolio across five projects in Nevada and Idaho, United States.

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