Mr. Grant Ewing reports

ROCKRIDGE ANNOUNCES FINAL ASSAY RESULTS AND PLANS NEXT PHASE OF EXPLORATION AND DRILLING FOR ITS RANEY GOLD PROJECT, SW OF TIMMINS, ONTARIO

Rockridge Resources Ltd. has received assay results for the final three holes from the recently completed 2,070-metre diamond drilling program at its Raney gold project, located southwest of Timmins, Ont., Canada.

The Raney gold project is located within the highly prospective west extension of the Abitibi greenstone belt, proximal to several regional deposits. Newmont's Borden gold mine (reserves of 4.17 million tonnes at 6.38 grams per tonne gold for approximately 860,000 ounces of gold reported in 2015) is located 35 kilometres west of Raney, and Iamgold's Cote development project (measured and indicated resources of 355 million tonnes at 0.87 g/t Au for approximately 9.98 million ounces of gold and inferred resources of 113 million tonnes at 0.7 g/t Au for approximately 2.4 million ounces of gold) is located 75 km to the southeast of Raney. GFG Resources is a close neighbour that has acquired a large land package in the area, including its Pen and Dore gold projects. Recent drilling success by GFG has resulted in attracting Alamos Gold as a strategic investor.

Highlights:

• The Raney gold project is a large, prospective gold property covering approximately 2,800 hectares, having recently been doubled in size through additional staking, located approximately 110 kilometres southwest of the prolific gold district of Timmins, Ont.
• A recently completed drilling program entailed 2,070 metres in nine diamond drill holes to assess the potential of the mineralized gold system along a strike extent of 225 metres.
• Eight of the nine drill holes returned gold mineralization over broad intervals, with the highlight intercept of 28 g/t gold over six metres (uncut) reported in hole RN 20-06 (see news release dated April 29, 2020).
• Gold mineralization is associated with broad intervals of higher concentrations of narrow quartz veins hosted in an extensive structural corridor that may extend over several hundred metres, with no drilling completed over a large extent of this corridor.
• The mineralized structure is open along strike to the east and west, as well as at depth.
• A notable disruption in the airborne magnetic data approximately two km west of the current drilling and in line with the projected structural corridor provides a compelling target area for future exploration.
• Upcoming summer exploration plans include a phase 1 field program and a phase 2 diamond drilling program, consisting of approximately 5,000 metres in 15 to 20 drill holes.
• The property has excellent access and infrastructure, and is accessible by paved and forestry roads.

Rockridge's chief executive officer, Grant Ewing, commented: "The recently completed exploration program allowed our team to gain a better understanding of the nature of the mineralization and the potential of the project. We are encouraged by the results of this initial program and are now planning a two-phase program to test the broad structural corridor that hosts the high-grade mineralization. This corridor potentially extends several hundred metres along strike, with no drilling conducted over a large extent of this corridor or at depth."

A total of 2,070 metres in nine diamond drill holes were completed in the program.

The limited drilling completed to date indicates that the gold mineralization is nuggety or uneven in distribution throughout the alteration zones, with some holes returning low-grade gold in close proximity to areas returning intervals of high-grade gold mineralization.

A summary of assay results for the final three holes is reported herein (see news release dated April 29, 2020, for assay results of the first six holes). All three holes intercepted several areas of low-grade mineralization:

• Hole RN 20-07 returned 0.62 g/t Au over five m from 35 m to 40 m, 0.69 g/t Au over five m from 89 m to 94 m and 0.57 g/t Au over seven m from 112 m to 119 m, including 1.17 g/t Au over three m from 114 m to 117 m.
• Hole RN 20-08 returned 0.39 g/t Au over six m from 12 m to 18 m and 0.7 g/t Au over three m from 76.5 m to 79.5 m.
• Hole RN 20-09 returned 0.42 g/t Au over four m from 51 m to 55 m and 0.49 g/t Au over two m from 108.5 m to 110.5 m.

True widths are not estimated at this time. See the company's website for the full assay tables.

2020 summer/fall exploration and drill program plans

Rockridge has announced plans for its next phases of exploration to test the broad structural corridor that hosts the mineralization. A two-phase program is being contemplated, with the fully financed phase 1 involving prospecting, mapping, geochemical and till sampling and geophysical surveys along the extensive structural corridor. This phase will be followed by a diamond drilling program to test targets identified during phase 1. The broad structural corridor that hosts the mineralization potentially extends over two kilometres to the west-northwest, where a large disruption in the magnetic geophysical data, coupled with historic mapping of disseminated sulphides and quartz veining, provides a very compelling target area. The company plans to continue testing the mineralized structure along strike and at depth to follow up on the success of the first drill program completed earlier in the year.

Winter 2020 drill program summary

A total of 2,070 metres in nine diamond drill holes were completed during the program to assess the potential of the Raney gold project. The drill program focused on the main zone over a strike extent of approximately 225 metres, which produced the best historic intercept of 6.5 g/t gold over eight metres. The deepest hole of the program tested down to the 260-metre level.

Silicification and minor carbonate alteration were recognized; however, gold mineralization appears to be closely related to intervals of high quartz vein density. The quartz veins are hosted in a steeply dipping alteration zone dominated by intermediate volcanic rocks consisting of lapilli tuffs and bedded argillites, with lamprophyre dikes. The quartz veins crosscut and run parallel to a weak fabric and range in thickness from 0.5 centimetre to 20 cm in width.

A zone of increased vein density has been noted where the historic visible gold intercepts occur. The high-grade intercept of 28 g/t over six metres from the recent program was the fourth drill hole on the property to intercept visible gold, and all these occurrences were in the main zone near the 100-metre level.

The broad structural corridor that hosts the mineralization is up to 125 metres wide and extends well beyond the area tested by drilling. Historic mapping and surface sampling data show that the zone may extend over several hundred metres. No drilling has been conducted along this corridor, except for the approximately 225-metre-long main zone. A notable disruption in the airborne magnetic data approximately two km west of the current drilling and in line with the projected structural corridor provides a compelling target area for future exploration.

Raney gold project geology and history

Historical drilling at the Raney gold project focused on identifying near-surface gold mineralization along an extensive structural corridor. Three subparallel and closely spaced mineralized zones of quartz-carbonate alteration with quartz veining, pyrite, pyrrhotite and, occasionally, visible gold were outlined. The drilling to date suggests the possibility of steeply plunging shoots of mineralization with reasonable widths in a broad alteration zone that is open along strike.

Rockridge holds an option to earn a 100-per-cent interest in the Raney gold project.

Qualified person

Todd Keast, PGeo, a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, the Raney gold project manager for Rockridge Resources, has reviewed and approved the scientific and technical disclosure in this news release.

Quality assurance/quality control

Core samples were prepared using the PREP-31b package in ALS's Timmins facility. Samples are then shipped to ALS's North Vancouver facility for assay procedures. Fire assay ALS code AU-AA23 using a 50-gram sample was completed. For samples with visible gold, AuScr 24 was completed. A quality assurance/quality control program included laboratory and field standards inserted at approximately every 20 samples. At least one field blank is inserted in every batch of 20 samples, with additional blanks inserted following samples with visible gold.

About Rockridge Resources Ltd.

Rockridge Resources is a publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada and other mining-friendly jurisdictions.

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