Mr. Chad Peters reports

RIDGELINE MINERALS CONVERTS EXPLORATION SUCCESS INTO ALL-CASH C$32.7 MILLION SALE OF CARLIN & CORTEZ TREND GOLD PORTFOLIO TO NEVADA GOLD MINES

Ridgeline Minerals Corp. has entered into a purchase and sale agreement dated Aug. 3, 2026, with Nevada Gold Mines LLC, a joint venture between Barrick and Newmont, pursuant to which NGM has acquired all of Ridgeline's interests in the Swift, Black Ridge, Bell Creek and Atlas gold exploration projects in an all-cash transaction totalling $23.15-million (U.S.) (or $32,706,320).

The transaction was completed effective Aug. 3, 2026, wherein NGM acquired a 100-per-cent ownership interest in the projects for a one-time $23.15-million (U.S.) cash payment on closing.

Chad Peters, Ridgeline's president, chief executive officer and director, commented: "I'm very proud to announce today's transaction with our long-time partners at Nevada Gold Mines, which crystallizes significant value for Ridgeline shareholders. This deal further validates our hybrid prospect generator business model, representing a 26-per-cent premium to our 20-day VWAP and a more than 350-per-cent return on invested capital across the four transacted projects."

Mr. Peters continued: "With the closing of this transaction, Ridgeline retains a robust treasury of $33.0-million in cash and $3.0-million in marketable securities. Notably, shareholders will also retain direct exposure to our 97-square-kilometre exploration portfolio in Nevada; including the company's flagship CRD discovery at the Selena project, which is actively being drilled and funded by our partners at South32."

Transaction highlights

For cash consideration of $23.15-million (U.S.) (or $32,706,320), NGM acquired on closing of the transaction:

• 100 per cent of Ridgeline's interest in the Swift (see Sept. 21, 2021, press release) and Black Ridge (see July 17, 2023, press release) earn-in agreements;
• 100-per-cent ownership of the Bell Creek and Atlas gold exploration projects.

Ridgeline retains:

• Ridgeline's interest in the Selena project earn-in agreement with South32 Ltd. (see Aug. 22, 2024, press release), including the 2025 Chinchilla sulphide CRD discovery;
• $23.15-million (U.S.) in cash (or $32.7-million) and $3.0-million in marketable securities (5.2 million common shares) of Spartan Metals (TSX Venture Exchange: W);
• The Big Blue porphyry copper and CRD project, where Ridgeline drilled 0.6 metre grading 3,297 grams per tonne silver (Ag), 0.7 per cent copper (Cu) and 2.6 per cent tungsten (W) in 2025;
• The Coyote gold project, which is located on trend and adjacent to the Black Ridge project;
• A 1-per-cent net smelter royalty (NSR) on the high-grade Eagle tungsten project (Spartan Metals).

Growth strategy

The Ridgeline team will continue to execute on its proven record of success in generating new projects and making discoveries in Nevada, including:

• Staking new precious and base metal exploration projects in Nevada;
• Pursuing new joint ventures and partnerships, which will remain a key component to the company's hybrid exploration business model;
• Utilizing its considerable treasury to assess new opportunities, including but not limited to acquisitions, M&A (mergers and acquisitions), and share or cash dividends to continue increasing value per share for shareholders.

The transaction is an arm's-length transaction and no finders' fees are payable in connection therewith. The transaction remains subject to final approval of the TSX Venture Exchange.

Technical information contained in this news release has been prepared under the supervision of, and approved by, Michael T. Harp, CPG, the company's vice-president, exploration. Mr. Harp is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Ridgeline Minerals Corp.

Ridgeline Minerals is a discovery focused precious and base metal hybrid explorer with a proven management team and a record of discovery in Nevada. The company is fully financed and controls a 97 square km exploration portfolio across three highly prospective projects in Nevada, United States. Ridgeline's hybrid exploration model includes a $20-million (U.S.) earn-in agreement with South32 Ltd. at the company's flagship Selena CRD discovery as well as a mix of 100-per-cent-owned exploration assets (Big Blue and Coyote), royalties and marketable securities.

We seek Safe Harbor.