Mr. Mike Harp reports

RIDGELINE MINERALS PROVIDES DRILLING UPDATE AT THE SELENA CRD PROJECT, NEVADA

Ridgeline Minerals Corp. has provided an update on the company's continuing drill program at the Selena project, Nevada. Selena is host to a silver (Ag) -- gold (Au) -- lead (Pb) -- zinc (Zn) carbonate replacement (CRD) style discovery located in White Pine county, Nevada. The objective of the 3,000-metre (m) core program is to both infill the high-grade upper Chinchilla zone (see July 24, 2023, press release), as well as to test beneath the Chinchilla zone for stacked sulphide horizons at depth. A summary of drilling progress is highlighted herein.

Drill program summary

• Drill hole SE23-046 was lost due to difficult drilling conditions at 126.8 m downhole with the bottom 7.3 m of the hole intersecting strongly brecciated and oxidized mineralization consistent with the top of the Chinchilla zone.
  • Assays of the truncated upper zone returned 7.3 m grading 64.2 grams per tonne (g/t) Ag, 0.8 per cent Pb, 2.9 per cent Zn and 0.1 g/t Au or;
  • 7.3 m grading 221.20 g/t silver equivalent (AgEq).

(Assumed metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1,800 Au, no recovery factory applied.)

• Drill hole SE23-047 re-drilled SE22-046 to a depth of 200.1 m and intersected the same upper Chinchilla oxide horizon over a 50 m plus thick intercept (assays pending).
  • The thickness of the altered and mineralized zone in SE23-047 is consistent with nearby reverse circulation drilling in holes SE21-013 and SE21-14.
• Drill hole SE23-048 is in progress and will be drilled to depths of 400 to 500 m to test for deeper sulphide horizons within the historically untested lower Guilmette limestone.
• The core program is tracking on-budget but running behind the originally proposed schedule due to mechanical delays associated with the drill rig, which have now been resolved.

Mike Harp, Ridgeline's vice-president, exploration, commented: "We continue to be impressed by the continuity of mineralization at the Chinchilla zone with hole 47 intersecting a thick, continuous zone of oxide mineralization that is visually consistent with nearby RC drill holes drilling during our 2021 program. We eagerly await assays from this shallower portion of the Chinchilla zone, which exhibits higher gold grades and exceptional continuity with mineralization currently open both up and down dip."

Mr. Harp continues: "Although drilling progress has been delayed by mechanical issues early in the program, we are now seeing consistent drill production as we test the bottom half of the highly prospective and historically untested lower Guilmette limestone. We have at least four more holes to complete with results to be released as they are received throughout the remainder of the program."

Selena project

Selena is located in White Pine county, Nevada, approximately 64 kilometres (km) north of the town of Ely, Nev. The project shares a property boundary with the Butte Valley project, a $33-million (U.S.) earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100-per-cent-owned project comprised 39 square kilometres of highly prospective exploration ground including Ridgeline's shallow-oxide 2020 Ag-Au plus or minus Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn plus or minus Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property.

QA/QC 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 analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48-element suite; 0.5 g five-acid digestion/ICP-MS) 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 CRM standards, duplicates and blanks into the sample stream with a stringent review of all results completed by the company's qualified person, Michael T. Harp, vice-president, exploration.

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 Minerals is a discovery-focused precious and base metal explorer with a proven management team and a 204-square-kilometre exploration portfolio across five projects in Nevada and Idaho, United States.

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