Mr. Chad Peters reports

RIDGELINE MINERALS CLOSES ROBBER GULCH TRANSACTION WITH SCOUT DISCOVERIES CORP.

Further to its news release of Feb. 21, 2024, Ridgeline Minerals Corp. has received TSX Venture Exchange acceptance to proceed with the sale of the Robber Gulch oxide gold project to Scout Discoveries Corp., a privately owned Delaware company.

The transaction was completed, effective March 20, 2024, wherein Scout acquired 100 per cent of Ridgeline's interest (including assuming the underlying lease agreement and all outstanding liabilities of the company) in Robber Gulch for the sale price of $150,000 (U.S.) comprising a cash payment of $50,000 (U.S.) and 200,000 common shares of Scout with an aggregate value of $100,000 (U.S.).

The project comprises 117 lode mining claims in Cassia county, Idaho, and is host to an early-stage Carlin-type gold system with shallow-oxide exploration potential.

The company's president, chief executive officer and director, Chad Peters, is also a director and shareholder of Scout and the transaction is therefore a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The directors of Ridgeline, excluding the interested party, have determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter nor the fair market value of the consideration for the transaction, insofar as it involves the interested party, exceeds 25 per cent of the company's market capitalization.

The company will file a material change report in respect of the transaction. The material change report will not be filed more than 21 days before the closing of the transaction, which the company deems reasonable in the circumstances as the company has previously disclosed in its news release dated Feb. 21, 2024, that the company planned to complete the transaction as soon as practicable following receipt of all requisite regulatory approvals.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery-focused precious metal and base metal explorer with a proven management team and a 192-square-kilometre exploration portfolio across five projects in Nevada, United States. The company boasts two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects, which are being aggressively explored in 2024.

We seek Safe Harbor.