Mr. Chad Peters reports

RIDGELINE MINERALS ANNOUNCES UPSIZED NON-BROKERED PRIVATE PLACEMENT TO $2.2M

In connection with Ridgeline Minerals Corp.'s previously announced non-brokered private placement (see April 17, 2024, news release) the company has increased the size of the private placement to 18,333,333 units at a price of 12 cents per unit, for aggregate gross proceeds of $2.2-million.

Each unit consists of one common share of the company and one-half of one non-transferable share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at a price of 18 cents per share for a period of 24 months from the date of issue.

The proceeds from the sale of the private placement will be used to finance exploration activities at the company's Nevada projects and for general working capital.

Certain directors and officers of the company may acquire securities under the private placement. Any such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

The company may pay a finder's fee in connection with the private placement and this financing is subject to the approval of the TSX Venture Exchange. All securities to be issued in the private placement will be subject to a four-month-plus-one-day hold period from the closing date under applicable securities laws in Canada and amongst other things, receipt by Ridgeline of all necessary regulatory approvals, including exchange approval. The company anticipates closing of the private placement as soon as practicable subject to receipt of all necessary regulatory approvals.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery-focused precious 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 by Nevada Gold Mines in 2024.

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