Mr. Bryan McKenzie reports

RILEY GOLD RECEIVES PROCEEDS OF $1.67M FROM WARRANT EXERCISES

A total of 6,677,401 warrants issued in connection with Riley Gold Corp.'s April 2, 2024, private placement have been exercised, resulting in total gross proceeds of $1,669,350.

"We are pleased to see such strong participation from our warrantholders," stated Todd Hilditch, chief executive officer of Riley Gold. "The exercise of 86 per cent of the 7,782,185 outstanding warrants that expired April 2, 2026, is a strong endorsement of the company and its Pipeline West/Clipper gold project (PWC)."

PWC is located in the Cortez mining district of the Battle Mountain-Eureka trend. PWC is operated by Kinross Gold U.S.A. Inc., a wholly owned subsidiary of Kinross Gold Corp., under an exploration earn-in agreement executed in March, 2024.

Additionally, Todd Hilditch, chief executive officer and director of Riley Gold, upon exercise of 798,518 warrants (held by a company 100 per cent controlled by Mr. Hilditch) at 25 cents per common share, has increased his ownership and control from 4,149,936 common shares to 4,948,454 common shares, representing approximately 10.13 per cent of the issued and outstanding common shares of the company. Pursuant to the requirements of National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Mr. Hilditch will file an early warning report in connection with his acquisition of the 798,518 common shares.

About PWC

PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement gold deposits. PWC consists of a land package totalling approximately 27.2 square kilometres of unpatented mining claims and patented fee lands adjoining Nevada Gold Mines LLC. PWC is situated along the Cortez structural zone of the exceptionally productive Cortez trend within the Battle Mountain-Eureka trend in north-central Nevada. The Cortez and Pipeline complexes (adjoining Riley Gold's PWC boundary) are top producers within Nevada, a state that has consistently produced between four million and five million ounces of gold a year.

About Riley Gold Corp.

Riley Gold is an exploration and development company focused in Nevada, United States, with assets located in the Battle Mountain-Eureka trend (within the Cortez district) and the Walker Lane trend. Riley Gold's founders and leadership team have a proven record of maximizing shareholder value during each phase of the mining life cycle: exploration, development and production.