Exploration Update For Nevada And Idaho Projects

VANCOUVER - Ridgeline Minerals Corp. reported on its 2023 exploration programs and corporate strategy across its portfolio of six projects in Nevada and Idaho totaling 192 square kilometers. The Company intends to spend C$2.0 million on direct drilling and exploration costs through the remainder of the year.

Mike Harp, Vice President, Exploration, said, "We anticipate multiple catalysts across the Ridgeline portfolio this year, including a third phase of fully funded drilling at the Swift project by our earn-in partners, Nevada Gold Mines. However, our team's focus will be the continued delineation and expansion of the high-grade Chinchilla Zone at our Selena project. Last fall, our first diamond core program at Selena returned the best drill intercepts in the Company's exploration history and significantly upgraded all metal values when compared to previously drilled RC holes nearby. This not only represents an opportunity to upgrade the existing mineralized footprint at Chinchilla, but also improved our understanding of the orientation of key feeder faults controlling "chimney" style CRD mineralization. Our next phase of core drilling will commence in July, where we will expand the known upper oxide horizon as well as test these mineralized feeder faults at depth where they crosscut more than 400m of untested and highly prospective carbonate host rocks."

The Company will complete a proposed five-hole, 3,000 meters (m) drill program scheduled to begin in early July. Drilling will target high-grade Ag-Au-Pb-Zn mineralization at two known "chimney" targets at the Chinchilla zone with highlight intercepts from the 2022 core program returning 6.1m grading 480.5 grams per tonne (g/t) silver (Ag), 18.4% lead and zinc (Pb-Zn) and 0.1 g/t Au within 32.5m grading 153 g/t Ag, 4.1% Pb-Zn and 0.1 g/t Au in SE22-045. Core drilling will confirm previously drilled Reverse Circulation (RC) drill intercepts in the upper oxide horizon as well as test down-plunge of the projected feeder faults for additional zones of stacked mineralization within the Guilmette Limestone host - Drill holes will range from 300 m - 650 m depth

Nevada Gold Mines (NGM) (Swift project operators) has confirmed that the next phase of framework drilling is scheduled to begin in early Q3, 2023 pending drill rig availability. Framework drilling will follow up on encouraging 2022 drill results, which included a highlight intercept of 48.8m grading 0.45 g/t Au, 0.98 g/t Ag starting at 667.5m including 3.4m grading 1.92 g/t Au in SW22-003. A total of US $5,034,639 in qualifying work expenditures has been spent on the project through Q1, 2023 and NGM has satisfied the minimum guaranteed work commitment of US $4,000,000 ahead of the scheduled deadline of December 31, 2023

The Company's technical team has completed additional field work this spring in the vicinity of the historic Delker Mine and Skarn Hill adits. Highlights include: The collection of 14 rock chip samples taken from historical test pits located parallel too and along strike of the Delker Mine; Test pits were excavated to 1 - 3 m vertical depth by operators in the early 1900’s; The collection of 11 continuous trench samples across the Delker Mine adit face, and 7 continuous trench samples across the largest test pit exposure on the property; and The identification of multiple copper-oxide bearing felsic dikes that parallel the Delker mine trend and significantly increase the mineralized footprint at Big Blue.

Ridgeline views both projects as strategic land positions on the Carlin Trend located directly adjacent to Nevada Gold Mines owned and operated gold deposits at Ren (1.6 million-oz Au @ 1.66 g/t Au) and North Leeville (1.0 million-oz. Au @ 11.3 g/t Au). The Company is currently assessing potential partnership opportunities to advance exploration at both projects.

At Robber Gulch the Company has identified multiple outcropping shallow-oxide targets to be tested with its in-house backpack drill rig in Q3 2023 pending approval of a US Forest Service Notice of Intent permit. Highest priority target is located ~500 m south of and on-strike of historic drill hole AC-4 (0.34 g/t Au oxide over 57.9 m) where the team intends to drill a 10 - 15 m backpack drill hole beneath outcropping jasperoid that has returned rock chip samples grading up to 6.7 g/t Au.