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Riverside Resources Inc
Symbol RRI
Shares Issued 93,443,464
Close 2026-03-17 C$ 0.245
Market Cap C$ 22,893,649
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Riverside completes acquisition of Famosa claims

2026-03-18 15:10 ET - News Release

Dr. John-Mark Staude reports

RIVERSIDE RESOURCES AND QUESTCORP CONSOLIDATE KEY MINERAL CONCESSION FOR UNION PROJECT, SONORA, MEXICO

Riverside Resources Inc. has successfully consolidated the Famosa area with three mineral concessions within the Union project district in Sonora, Mexico, through the completion of the final payment and transfer of mineral title from Pacific Comox SA de CV to Riverside's wholly owned Mexican subsidiary, RRM Exploracion SAPI de CV. This provides the company with clear ownership and the ability to advance exploration and, potentially, move toward mining based on future development results.

The transaction completes the acquisition of three mineral concessions: La Famosa, Dana 7 and Dana 7, which form an important portion of the southern part of the Union project district. These concessions are mineral titles 199006, 220840 and 220841, with validity extending from 1994 through 2044 and 2003 through 2053, respectively. This long-term validity and fully titled status fit with the rest of the district mineral titles that the company is advancing through its spring 2026 mineral exploration program.

The concessions were originally secured through an exploration agreement signed in August, 2021, between RRM Exploracion and Pacific Comox, which provided Riverside with an option to purchase the claims within a five-year period (2021 to 2026). With the completion of the final payment of $125,000 (U.S.), Riverside has now exercised the purchase option, and the titles have been formally transferred to Riverside. The total consideration for the acquisition amounts to $175,000 (U.S.), and, notably, no net smelter royalty (NSR) or any other type of royalty is attached to this transaction.

"We are pleased to complete the consolidation of the Famosa area within the Union project, securing full ownership with no royalty burden for the transaction on these key concessions," said Dr. John-Mark Staude, president and chief executive officer of Riverside Resources. "This strengthens our district-scale land position and provides greater flexibility as we continue advancing exploration at Union with our partner Questcorp."

The Famosa area hosts CRD-style (carbonate replacement deposit) mineralization and structurally controlled gold mineralization within dolomite and quartzite units, located in the southern portion of the broader Union project district. The consolidation strengthens Riverside's land position within the Union district and supports continuing exploration efforts targeting CRD-style gold-silver-polymetallic mineralization.

This transaction represents another step in the systematic advancement of the Union project, where Riverside has been working in partnership with Questcorp under an option agreement that provides for up to $5.5-million in exploration expenditures financed by Questcorp while Riverside retains equity exposure and a 2.5-per-cent net smelter royalty on the project. Previous exploration programs at Union have included geological mapping, geophysics, diamond drilling and high-grade rock-chip channel sampling that have confirmed the presence of gold- and polymetallic-bearing CRD-style and sediment-hosted gold-style mineralization across multiple targets within the district. By securing the Famosa concessions outright, Riverside further consolidates its district-scale land position and enhances the exploration potential across the southern portion of the Union project. The expanded control of mineral titles provides increased flexibility for future exploration programs and supports the continued advancement of the project with partner-financed exploration.

Further technical updates related to exploration activities at the Union project will be provided as programs progress.

About the Union project

The Union project is a district-scale CRD exploration project located in Sonora, Mexico. The project hosts historical mining areas and multiple exploration targets associated with gold, silver, zinc and lead mineralization within carbonate and structurally controlled settings. Riverside operates the project through its Mexican subsidiary while advancing exploration in partnership with Questcorp.

Qualified person

The technical content of the news release has been reviewed and approved by Freeman Smith, PGeo (British Columbia), a qualified person under National Instrument 43-101 who is non-independent and the vice-president, exploration, for the company.

About Riverside Resources Inc.

Riverside is a well-financed exploration company driven by value generation and discovery. The company has a strong balance sheet with over $5-million cash, no debt and a tight share structure with a strong portfolio of gold-silver, copper and REE (rare earth element) assets and royalties in North America.

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