Mr. Chad Peters reports

NEVADA GOLD MINES COMMENCES DRILL PROGRAM AT RIDGELINE MINERALS'S SWIFT GOLD PROJECT, NEVADA

Ridgeline Minerals Corp. has noted that Nevada Gold Mines LLC (NGM), a joint venture between Barrick Gold and Newmont Corp., has mobilized a drill rig to the Swift gold project located in the Cortez district of the Battle Mountain-Eureka mine trend. Ridgeline entered into an exploration earn-in agreement with NGM on Sept. 22, 2021, where NGM can incur a minimum of $20-million (U.S.) (of which $5-million (U.S.) has been spent to date) in qualifying work expenditures over an initial five-year term to earn an initial 60-per-cent interest in Swift, and will have further options to increase its interest to a total 75-per-cent interest. Details of the proposed drill program are highlighted herein.

Drill program highlights

• Drill hole SW23-005 will target the intersection of proposed low-angle structures and favourable lower plate carbonate host rocks of the Wenban and Roberts mountains formations.
  • Drill hole will provide key lithostructural information between historical drill intercepts in hole MCK-99-5A (18.3 metres (m) grading 0.64 gram per tonne (g/t) gold (Au)) and 2022 NGM drill intercepts in SW22-002 (41.9 m grading 0.26 g/t Au) and SW22-003 (48.8 m grading 0.45 g/t Au).
• Drill hole SW22-004 will be extended from a starting depth of 1,104 m where the hole was previously halted by NGM in January, 2023, due to severe winter weather conditions.
  • Drilling returned up to 3.0 m grading 2.27 g/t Au in upper plate rocks prior to intersecting lower plate host rocks at 1,065 m.
  • Hole will be extended through prospective host rocks to an anticipated depth of 1,500-plus metres.

Chad Peters, Ridgeline's president, chief executive officer and director, commented: "To date, we are very encouraged by the exploration results at Swift with early results highlighting the potential to discover a large Carlin-type gold system. The Nevada Gold Mines team has done an exceptional job generating a property-wide geologic model and SW23-005 will target a highly prospective structural corridor bounded by mineralized gold intercepts on both sides. We look forward to updating our shareholders as results are received."

Swift project

Swift is located on the Cortez district of the historic Battle Mountain-Eureka trend approximately 30 kilometres (km) south of the town of Battle Mountain, in Lander county, Nevada. The district-scale 75-square-kilometre property is on trend to the Pipeline, Cortez Hills and Goldrush deposits, which comprise the multimillion-ounce Cortez complex owned by Nevada Gold Mines (a joint venture between Barrick Gold and Newmont). Ridgeline entered into an exploration earn-in agreement with NGM on Sept. 22, 2021, where NGM can incur a minimum $20-million (U.S.) (of which $5-million (U.S. has been spent to date) in qualifying work expenditures over an initial five-year term to earn an initial 60-per-cent interest in the Swift gold project. NGM will have further options to increase its interest to a total 75-per-cent interest (subject to additional expenditures and commitments).

QA/QC procedures

Samples are submitted to ALS Minerals, Elko, Nev., which is a certified and accredited laboratory, independent of Nevada Gold Mines. Samples are prepared using industry-standard prep methods and analyzed using Au-AA23 (Au; 30 g fire assay) and ME-MS61 (48-element suite; 0.25 g four-acid digestion/ICP-MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Nevada Gold Mines QA/QC program includes regular insertion of CRM standards, duplicates and blanks into the sample stream with a stringent review of all results completed internally by Nevada Gold Mines technical personnel.

Technical information contained in this news release has been reviewed and approved by Michael T. 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 is a discovery focused gold-silver explorer with a proven management team and a 192 square km exploration portfolio across six projects in Nevada and Idaho, United States.

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