Mr. Chad Peters reports

RIDGELINE MINERALS INTERSECTS SHALLOW, HIGH-GRADE CRD MINERALIZATION AT THE SELENA PROJECT, NEVADA

Ridgeline Minerals Corp. has released results from the first two core holes of its proposed five-hole, 3,000-metre drill program at the Selena project, Nevada. Results from the Upper Chinchilla zone returned continuous intercepts of shallow-oxide, silver-lead-zinc-gold containing high grade, including intervals that are consistent with nearby reverse circulation (RC) holes. Notably, deeper drilling beneath the Upper Chinchilla zone in hole SE23-048 also intersected localized antimony-rich breccia intervals averaging 1 to 2 per cent Sb, which are the first of its kind at Selena.

Chad Peters, Ridgeline's president and chief executive officer, commented: "This year's drill program has two primary objectives. The first is to upgrade previously drilled, shallow-oxide RC intercepts in the Upper Chinchilla zone, and the second is to make a high-grade CRD discovery at depth. Hole 47, drilled between 2021 RC holes 13 and 14, materially upgrading both the thickness and overall grade of both holes, which includes a significant oxide gold component. This zone is shallow and projects up dip through hole 48 to surface and is open for expansion. These intercepts confirm our belief that there is significant potential to delineate a shallow-oxide resource at Chinchilla that may be amenable to low-cost heap-leach processing methods."

Mr. Peters continues: "The highest-priority holes of the program are holes 49 and 50, which are in progress and will drill to depths of 700 metres or more to test for stacked zones of CRD mineralization beneath the Upper Chinchilla zone. These holes are targeting both sides of the known chimney structure that is believed to be a primary feeder to the Upper Chinchilla zone, which returned bonanza-grade CRD intercepts in our 2022 program."

Chinchilla zone results summary:

• SE23-048: 0.9 m grading 720.3 grams per tonne Ag, 12 per cent Pb, 0.1 per cent Zn and 0.4 g/t Au (or 1,133.6 g/t silver equivalent) within 10.9 m grading 94.1 g/t Ag, 1.3 per cent Pb, 0.7 per cent Zn and 0.2 g/t Au starting at 85.3 m true vertical depth (TVD);
  • 0.6 m grading 3.6 g/t Ag, 2.4 per cent Sb and 0.1 g/t Au starting at 240 m TVD;
  • 3.6 m grading 0.5 g/t Ag, 1.2 per cent Sb and NA g/t Au starting at 247 m TVD;
• SE23-047: 4.6 m grading 55.2 g/t Ag, 1.2 per cent Pb, 7.2 per cent Zn and 0.2 g/t Au (or 421.1 g/t AgEq) and 2.8 m grading 205.8 g/t Ag, 1.4 per cent Pb, 0.3 per cent Zn and 1.4 g/t Au (or 386.1.1 g/t AgEq) within 60.7 m grading 69.8 g/t Ag, 0.6 per cent Pb, 1.3 per cent Zn and 0.4 g/t Au (or 175.2 g/t AgEq) starting at 93.8 m TVD;
  • The 60.7 m composite calculation includes a combined 7.3 m of unrecovered core (typically in one to two m intervals) due to collapsing hole conditions through the mineralized zone. These intervals were assigned an assay value of 0.0 across all metals, resulting in an estimated dilution of roughly 12 per cent to the overall composite value;
• Both intercepts are hosted within 10 m to 60 m wide zones of strongly oxidized CRD-style alteration and are open for expansion up and down dip;
• Holes SE23-049 and SE23-050 are in progress and located approximately 500 m west of SE23-047 and SE23-048. Both holes will test for stacked mineralization beneath the high-grade Upper Chinchilla zone intersected with holes SE22-039 and SE22-045 in 2022 (see Jan. 24 press release);
  • SE23-049 has approximately 250 m of prospective host rocks remaining to test before moving to SE23-050 and has intersected multiple zones of fugitive calcite breccias or BBQ rock beneath the Upper Chinchilla zone, a proximal indicator of CRD alteration and mineralization.

Selena project

Selena is located in White Pine county, Nevada, approximately 64 kilometres 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 comprises 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.

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, Michael T. 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 204-square-kilometre exploration portfolio across six projects in Nevada and Idaho, United States.

We seek Safe Harbor.