Mr. Chad Peters reports

RIDGELINE MINERALS PROVIDES EXPLORATION UPDATE FOR THE SWIFT GOLD PROJECT, NEVADA

Ridgeline Minerals Corp. has provided an update for the continuing drill program at the Swift gold project, currently being operated under an exploration earn-in agreement with Nevada Gold Mines.

The start of the drill program was delayed from early June until August, due to unexpected permitting delays through the Bureau of Land Management (BLM). However, drilling is progressing steadily with the first of up to three deep core holes now complete and with samples from hole SW24-006 submitted to the lab for analysis.

Chad Peters, president, chief executive officer and a director of Ridgeline, commented: "We are encouraged by the visual results of the first hole, which continues to show evidence of a strong Carlin-type gold system at Swift. The 2024 program is building from positive drilling results in 2022, which intersected widespread alteration and low-grade Carlin-type gold mineralization across multiple framework drill holes. Drilling in 2024 will attempt to vector in on higher-grade gold mineralization hosted within proposed structural traps along the projection of the Mill Creek thrust, a significant structural control and conduit for gold mineralization at Swift."

2024 drill program highlights

Swift gold project: Due to unforeseen permitting delays, Nevada Gold Mines (Swift's project operator) has revised its 2024 exploration budget to spend up to $3-million (U.S.) (up to three deep core holes) for the continuing framework drilling at Swift:

• Drill hole SW24-006 was recently completed to a depth of 918.2 metres with assay results pending.
• SW24-007 reverse circulation precollar is in progress and will drill to the southwest of positive drilling results from drill hole SW22-003 (2022 program).
• Nevada Gold Mines has incurred a total of $7,448,986 (U.S.) in qualifying work expenditures on the project through June 30, 2024.

Swift earn-in terms: Nevada Gold Mines retains the right to earn an initial 60-per-cent interest in the Swift project (see Sept. 21, 2021, press release) over an initial five-year term by incurring a minimum of $20-million (U.S.) (of which approximately $7.5-million (U.S.) has been spent through June 30, 2024) in qualifying work expenditures. Nevada Gold Mines retains the option to increase its interest up to 70 per cent by incurring an additional $10-million (U.S.) in qualifying work expenditures before Dec. 31, 2029. Within 90 days of a joint venture decision to proceed with development and construction of a mine and/or related processing facilities on Swift, Nevada Gold Mines will have a one-time option to elect to provide financing or arrange for third party financing of Ridgeline's portion of debt financing required for the development in consideration, in either case, for an additional 5-per-cent interest in the project for a total of 75 per cent (or 65 per cent if the second option was not exercised).

Quality assurance/quality control procedures

Samples are submitted to ALS Minerals in Elko, Nev., which is a certified and accredited laboratory, independent of Nevada Gold Mines. Samples are prepared using industry-standard prep methods and analyzed using Au-AA23 (gold; 30-gram fire assay) and ME-MS61 (48-element suite; 0.25-gram four-acid digestion/ICP-MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Nevada Gold Mines' QA/QC program includes regular insertion of CRM (certified reference material) standards, duplicates and blanks into the sample stream, with a stringent review of all results completed internally by Nevada Gold Mines technical personnel.

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 is responsible for technical matters of this release.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery-focused precious metal and base metal explorer with a proven management team and a 195-square-kilometre exploration portfolio across six projects in Nevada, United States. The company is a hybrid explorer with a mix of 100-per-cent-owned exploration assets (Big Blue, Bell Creek and Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project.

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