Pipeline West-Clipper Gold Project Exploration Program Underway

VANCOUVER - Riley Gold Corp. reported that the 2025 Exploration Program is well underway at the Pipeline West/Clipper Gold Project (PWC), located in the Cortez mining district of the Battle Mountain - Eureka Trend. PWC is operated by Kinross Gold U.S.A., Inc. under an exploration earn-in agreement whereby Kinross has the right to earn up to 75% of PWC.

Kinross has defined new high-priority framework drill target areas at PWC that have never been drill tested. First set of 2025 framework drill holes are approximately 2.5 kilometers north-northwest of the previous (and first) Kinross drill hole (in late 2024). These holes are targeting the highest grade gold-in-soil anomalies location on the property. Compiled geologic mapping, geophysical surveys, historical drill results, and gold-in-soil survey results support the new 2025 drill hole locations.

Recent geologic modeling and interpretation by Kinross also provides a supporting structural foundation and information for the 2025 Exploration and Drill Program. Drill contracts have been awarded, drill permitting is in process and drilling is expected to begin soon. Additional soil sampling is planned by Kinross for the 2025 field season to increase surface geochemical coverage adjacent to the 2023 soil survey completed by Riley Gold. The previous soil survey returned significant anomalous gold-in-soil values that extended more than 3 kilometres (km). Several pathfinder elements, associated with both Carlin-type and intrusive-related gold deposits, were also elevated in the first soil survey.

Kinross's first PWC deep framework drill hole (PW1-24) was completed successfully in the Fall of 2024 and was designed to test for favourable lower plate carbonate Carlin-type host rocks and was drilled to 3,597 feet (1,096 m). The drill hole was designed to identify local stratigraphy in a large area within the 25 km² PWC land package with no previous deep drilling. PW24-01 successfully intercepted a 1,251 foot (380 m) thick structurally complex section of lower-plate carbonates starting at a depth of 2,346 feet (715 m) including 1,193 feet (364 m) of structurally thickened Devonian Wenban Formation. PW24-01 demonstrates that known Cortez District host lithologies exist at explorable drill depths over a contiguously large, untested area proximal to the Pipeline complex area.