VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 4, 2017) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99) is pleased to provide an overview of the Company's goals and growth plans for the coming year. Riverside enters 2017 with approximately $3,500,000 CAD in cash and less than 37,500,000 shares outstanding. The Company will aim to build on the successes achieved during 2016 (see 2016 Year in Review press release, December 23, 2016). The list below outlines some of the key catalysts and corporate growth plans for 2017:
• Drill results expected in January from the Thor Copper Project (Partner: Antofagasta)
• Exploration results expected in January and February from the on-going ~$400,000 exploration program at the Glor Gold Project (Partner: Centerra Gold)
• Drilling program anticipated to commence during 2017 at Glor
• $350,000 in exploration expenditures expected to be completed at the Clemente Project by partner, Silver Viper Minerals Corp., as per the Option Agreement signed December 6, 2016 (Riverside owns 1,000,000 Silver Viper common shares)
• New partnerships will be explored to advance the Company's 100% owned projects (Penoles, Tajitos, Ariel, La Silla). The Company expects multiple new JV deals in 2017.
• Riverside will continue quality acquisition efforts using its mineral occurrence database to secure key ground in Mexico. New property acquisitions expected in Q1-Q2 of 2017
• Private partner, Croesus Gold Corp., anticipated to go-public in 2017 (Riverside owns 3,000,000 Croesus common shares and holds a 2% NSR on the Sugarloaf Peak Project)
The Company expects to see exploration and drill results in 2017 from at least $2,000,000 in expenditures completed on the Company's projects by partners. In addition to the existing partner-funded activity and growth catalysts, Riverside will progress its wholly owned assets and aim to secure new growth assets with significant exploration upside.
Riverside's President and CEO, John-Mark Staude, stated: "We completed the last year on budget and improved our portfolio and targets. We enter 2017 with a steady flow of catalysts, as Riverside and its partners push for new metal discoveries. The Company is well-positioned to deliver upside exposure to its shareholders while reducing exploration risk with partners funding much of the work."
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About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers. The Company currently has approximately $3,500,000 in the treasury and less than 37,500,000 shares outstanding. The Company's model of growth through partnerships and exploration uses the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Riverside has additional properties available for option with more information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.