Mr. Chad Peters reports

RIDGELINE MINERALS RECEIVES APPROVAL FOR EXPLORATION EARN-IN AGREEMENT WITH SOUTH32 AT THE SELENA PROJECT, NEVADA

Further to Ridgeline Minerals Corp.'s news release on Aug. 22, 2024, the TSX Venture Exchange has accepted for filing the previously announced earn-in agreement dated Aug. 21, 2024, with a wholly owned subsidiary of South32 Ltd. at the Selena carbonate replacement deposit project located in White Pine county, Nevada.

The earn-in agreement was signed effective Aug. 21, 2024, wherein South32 has the option to earn an initial 60-per-cent ownership interest in the project by paying Ridgeline a $100,000 (U.S.) execution payment and financing a minimum of $10-million (U.S.) (of which $2-million (U.S.) is guaranteed) in qualifying exploration expenditures on the project over an initial five-year term. Ridgeline will remain operator of the project during the initial phase 1 earn-in option period. Subject to South32 having exercised the first option, South32 will have a further option to increase its ownership interest in the project to a total of 80 per cent by incurring an additional $10-million (U.S.) in expenditures over a three-year phase 2 earn-in option period for an aggregate spend of $20-million (U.S.) over eight years.

If South32 wishes to exercise the second option, it must within 42 months of the second option commencement date, arrange for and provide draft definitive documentation in respect of a debt facility from which (if executed) Ridgeline may draw on to sufficiently finance Ridgeline's share of costs associated with the development of a mine at Selena through to commercial production. Execution of the Ridgeline facility will be subject to, among other things, approval of the TSX Venture Exchange.

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 in 2024.

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