Dr. John-Mark Staude reports

RIVERSIDE RESOURCES INC. COMPLETES SPIN-OUT OF BLUE JAY GOLD CORP. SHARES

Riverside Resources Inc. and Blue Jay Gold Corp. have completed the plan of arrangement which was previously discussed in Riverside's press release dated Jan. 28, 2025, with the arrangement to spin out the shares of Blue Jay to the shareholders of Riverside, effective Thursday, May 22, 2025.

Pursuant to the arrangement, holders of common shares of Riverside on the date hereof have received one new common share of Riverside and one-fifth of one common share of Blue Jay for each common share of Riverside held. The new Riverside shares will commence trading on the TSX Venture Exchange at the market opening on Monday, May 26, 2025. The Cusip numbers for the new Riverside shares and the Blue Jay shares are 76927E109 and 095925103, respectively.

"The completion of the Blue Jay spinout marks a significant milestone in Riverside's ongoing strategy to unlock value through disciplined corporate development and capital deployment," said Dr. John-Mark Staude, president and chief executive officer of Riverside. "We believe that Blue Jay, with its strong portfolio of Canadian gold assets, dedicated management team and clean capital structure, is well positioned for exploration and growth. This spinout not only provides Riverside shareholders with direct exposure to a focused new exploration company, but it also reinforces Riverside's track record of creating value through strategic actions that serve the company and shareholders. This approach was notably demonstrated with the successful spinout of Capitan Silver, which has delivered additional value to our shareholders since its launch. We are proud to have launched Blue Jay and look forward to its success as a stand-alone public company."

Immediately prior to the arrangement, on May 22, 2025, Riverside and Blue Jay entered into an amendment to the arrangement agreement dated Jan. 27, 2025. Pursuant to the amendment, Riverside and Blue Jay may waive certain conditions set forth in the arrangement agreement. All other terms and conditions of the arrangement agreement remain unchanged.

Blue Jay is expected to make an application to list its shares on the TSX Venture Exchange. This share reorganization follows a structure similar to Riverside's previous transaction with Capitan Silver Corp. In that prior case, the shares saw positive appreciation, and both Riverside and Capitan advanced their respective business strategies.

Following the arrangement, Blue Jay will be a reporting issuer in Alberta, British Columbia and Ontario and will meet and comply with all of its timely and continuous disclosure requirements, as required under applicable Canadian securities laws. Blue Jay's public disclosure documents will be made available and filed on Blue Jay's profile on SEDAR+.

"Blue Jay is launching with a clear and compelling mandate to build long-term shareholder value through focused gold exploration in Canada, one of the world's most stable and well-endowed mining jurisdictions," commented Geordie Mark, chief executive officer of Blue Jay. "Our initial asset base includes high-quality projects with significant discovery potential, and our team brings deep technical expertise, capital markets experience and a commitment to disciplined exploration. With the strong support of Riverside and our broader shareholder base, we are hitting the ground running, well capitalized and ready to execute. I am excited about the opportunities ahead and confident in our ability to deliver results."

About Riverside Resources Inc.

Riverside is a well-financed exploration company driven by value generation and discovery. The company has over $4-million in cash, no debt and fewer than 75 million shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada, and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the company also strives to diversify risk by securing joint venture and spinout partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the company's website.

About Blue Jay Gold Corp.

Blue Jay is a Canadian gold exploration company focused on high-grade discovery in Ontario's prolific Beardmore-Geraldton and Wawa greenstone belts, regions known for hosting numerous past-producing and active gold mines. The company's flagship asset, the Pichette project, features extensive banded iron formation trends and high-grade historical gold intercepts, offering near-surface discovery potential. With three strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold is advancing a disciplined, modern exploration strategy in one of Canada's most prospective and mining-friendly jurisdictions.

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