Mr. Chad Peters reports

RIDGELINE MINERALS PROVIDES 2025 BUDGET GUIDANCE FOR THE SELENA CRD PROJECT, NEVADA

Ridgeline Minerals Corp. has provided budget guidance for a 2025 drill program at the Selena carbonate replacement deposit (CRD) project. The project is currently being operated by Ridgeline under phase 1 of an earn-in agreement with a wholly owned subsidiary of South32 Ltd. All dollars noted are in U.S. dollars.

South32 has spent a total of $329,842 in qualifying work expenditures through Dec. 31, 2024, and will spend a total of $602,000 through June 30, 2025, constituting year 1 of the five-year, phase 1 earn-in period. South32 has also approved a year 2 exploration budget of $3.45-million for the year ending June 30, 2026, to drill up to three deep core holes (4,500 metres total) targeting the high-priority magnetotellurics (MT) anomaly that was recently identified at the Chinchilla sulphide CRD target. All requisite exploration permits are in hand, with drilling anticipated to begin in June, 2025.

Chad Peters, Ridgeline's president, chief executive officer and a director, commented: "Chinchilla sulphide has been a high-priority CRD target for our team since 2022 and we are thrilled to see a drill program confirmed with the backing of our partners at South32. The recently identified MT anomaly has significantly increased our confidence in the geologic controls for the CRD system and this first-pass program will test the entire strike of the Chinchilla sulphide target from multiple orientations. We look forward to updating shareholders as we commence the drill program in June."

Earn-in terms

South32 retains the right to earn an initial 60-per-cent interest in the Selena project (see Aug. 22, 2024, news release) by financing a minimum of $10-million in qualifying work expenditures on the project over an initial five-year term, following which South32 will have a further option to increase its interest in the project to a total of 80 per cent by financing an additional $10-million in qualifying work expenditures (for an aggregate spend of $20-million) over an additional three-year term. During the phase 2 earn-in period, South32 has the option to take over operatorship of the project. Before the exercise of the phase 2 option, South32 will 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 (20 per cent pro rata) associated with development of a mine at Selena through to commercial production.

QA/QC (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 (gold -- 30-gram (g) fire assay) and ICP-5AM48 (48-element suite; 0.5 g five-acid digestion/ICP-MS (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 CRM (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, CPG, vice-president, exploration.

The technical information contained in this news release has been prepared under the supervision of, and approved by, Mr. Harp. Mr. Harp is a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Selena project

Selena is located in White Pine county in Nevada, approximately 64 kilometres (km) north of the town of Ely. The project is currently being operated by Ridgeline under phase 1 of an earn-in agreement with a wholly owned subsidiary of South32 and shares a property boundary with the Butte Valley project, a $33-million earn-in agreement between Freeport-McMoRan and the underlying owner, Falcon Butte Minerals. The project comprises 39 square kilometres of highly prospective exploration ground, including Ridgeline's shallow-oxide Ag-Au (silver-gold) plus or minus Pb-Zn (lead-zinc) Chinchilla oxide and deeper Chinchilla sulphide discoveries. Subsequent drilling has continued to highlight the potential for high-grade CRD-type mineralization (Ag-Au-Pb-Zn plus or minus Cu-W (copper-tungsten)) between Chinchilla oxide and Freeport-McMoRan's Butte Valley Cu-Au-Ag-Zn porphyry, located directly west of the property.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200-square-kilometre exploration portfolio across seven projects in Nevada. The company is a hybrid explorer with a mix of 100-per-cent-owned exploration assets (Big Blue, Atlas, 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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