Ridgeline Minerals Announces $9.9M in Partner-Funded 2026 Exploration Budgets at the Swift and Selena Projects
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2026) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to provide 2026 budget guidance of US$9,500,000 in partner-funded exploration between the Selena ("Selena") and Swift ("Swift") projects (Figure 1). Drill program details are highlighted below.
The Selena project is a silver-lead-zinc-gold-copper carbonate replacement ("CRD") style exploration project operated by Ridgeline Minerals and funded by a wholly owned subsidiary of South32 Limited ("South32"). The project is currently operating under Phase I of an exploration earn-in agreement totaling up to US$10,000,000 in qualifying expenditures over a 5-year period. South32 has approved a Year-3 work program and budget of US$4,400,000 that, once funded and executed, is expected to satisfy Phase I of the exploration earn-in agreement (for more details see August 22, 2024 press release HERE).
The Swift project is Carlin-Type gold exploration project being operated by Nevada Gold Mines ("NGM") under Phase I of an exploration earn-in agreement totaling up to US$20,000,000 in NGM expenditures over a 5-year period. NGM has approved a 2026 exploration budget of US$5,500,000 for a projected total of US$20,000,000 in qualifying expenditures, which will satisfy Phase I of the exploration earn-in agreement (for more details see September 22, 2024 press release HERE).
Chad Peters, Ridgeline's President, CEO & Director commented, "Selena and Swift continue to exhibit strong exploration potential with our partner-funded budgets continuing to increase year over year. 2026 represents our largest partner-funded exploration budget in Company history and provides our shareholders with exposure to gold, silver and base metal discoveries in mining friendly Nevada, while also reducing risk and minimizing shareholder dilution through our hybrid exploration model."
Mr. Peters continues, "Our 2025 CRD discovery at Chinchilla Sulfide was a significant milestone for the Selena project and supports our belief that Selena represents one of the more compelling silver and base metal discoveries in the United States since the discovery of the Hermosa Taylor deposit in 2015. Drilling will commence at Selena in April, followed by Swift in May, where we will continue to build on high-grade drill intercepts at both projects."
Selena Project (US $20,000,000 South32 Earn-in)
South32 has approved a Year-3 (July 2026 to June 2027) work program and budget of approximately US$4,400,000 across an initial three core holes for a projected total of US$10,000,000 in qualifying expenditures under Phase I of the exploration earn-in agreement. The work program is projected to be completed on or before December 31, 2026.
- Drilling will take a phased approach in 2026 with the program starting with three deep holes targeting the Chinchilla Sulfide discovery (Figure 2)
- The first hole will test for bedding controlled "manto" CRD mineralization between discovery hole SE25-053 (See December 18, 2025 PR HERE) and SE25-054 (see March 16, 2026 press release HERE)
- The second hole will test between SE25-053 and the Company's 2022 RC drillhole SE22-038 that intercepted 1.5m grading 97.4 grams per tonne ("g/t) silver ("Ag"), 5.0% lead-zinc ("Pb-Zn") and 0.4 g/t gold ("Au") in the same oxide upper horizon as SE25-054 but did not drill deep enough to test the projection of the same sulfide CRD horizon that was intercepted in SE25-053
- The third hole will test a new target concept adjacent to the Butte Valley Cu-Au-Ag-Zn porphyry system with the goal of intersecting copper-silver enriched skarn mineralization
- Borehole electromagnetic ("BHEM") surveys will be completed in late June in holes SE25-053 and SE25-054 to assist in the 3D modelling of conductive sulphide-rich zones at depth and laterally from the drill holes. It is anticipated that results from the BHEM surveys will help guide additional future drilling at the project.
Swift Project (US$30,000,000 NGM Earn-in)
NGM has approved a 2026 exploration budget of US $5,500,000 across 5-6 deep core holes for a projected total of $20,000,000 in qualifying expenditures on or before December 31, 2026.
- NGM will begin drilling in May to complete core tails at SW25-010 & SW25-012 and continue testing the high-grade mineralized horizon at the SW Swift target, which intersected 1.1m grading 10.4 g/t Au in SW24-006 (Figure 3)
- The remaining 3-4 holes will be split between the Aquila and Pegasus targets which will be testing the down-dip projection of the Carbon thrust at Aquila while Pegasus will test the shallower projection of the Unicorn Window (previously referred to as the Mill Creek corridor) (Figure 3)
Figure 1: Ridgeline's 200-kilometer² exploration portfolio in Nevada with partner projects in white
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Figure 2: Plan view map of the Selena property with Chinchilla Sulfide drill results and the Phase I 2026 drill collar locations (red stars)
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Figure 3: Plan view map of the Swift property showing 2026 drill locations and previous drill intercepts
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QAQC Procedures
Selena HQ & NQ size core samples are split by core saw with ½ the sample retained at the Company warehouse and the other ½ bagged and submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are shipped to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods - 4 - and analysed using FA-PB30-ICP (Au; 30g fire assay) and ICP-5AM48 (48 element Suite; 0.5g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company's Qualified Person, Michael T. Harp, Vice President, Exploration.
Swift HQ & NQ size core samples are split by core saw with ½ the sample retained at a NGM facility and the other ½ bagged and to ALS Minerals, Elko Nevada, which is a certified and accredited laboratory, independent of NGM. Samples are prepared using industry-standard prep methods and analysed using Au-AA23 (Au; 30 g fire assay) and ME-MS61 (48 element Suite; 0.25 g 4-acid digestion/ICP- MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. NGM QAQC programs include regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed internally by Nevada Gold Mines technical personnel.
Technical information contained in this news release has been prepared under the supervision of, and approved by, Michael T. Harp, CPG, the Company's Vice President, Exploration. Mr. Harp is a "qualified person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200 km2 exploration portfolio across seven projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, Bell Creek & Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project totaling up to US $60 million in partner-funded exploration expenditures. More information about Ridgeline can be found at www.ridgelineminerals.com.
On behalf of the Board
"Chad Peters"
President & CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release
Cautionary Note regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the assay results for core hole SW24-004 and the potential significance thereof. The words "potential", "anticipate", "meaningful", "significant", "pending", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that the current objectives concerning the Swift project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline's public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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Source: Ridgeline Minerals Corp.
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