High-Grade Results At Tokop Gold Project

VANCOUVER - Riley Gold Corp. reported initial high-grade gold drill results and a new surface rock sample that returned 71.73 grams per tonne (gpt) from its Tokop Gold Project located in Esmerelda County, Nevada. The first three HQ3 oriented core holes, targeting near-surface quartz veins, shears, and mineralized fault zones, returned assay intercepts with highlights of: TKR-21C: 9.32 gpt gold over 2.6 meters (“m”) from 46.2 m, including 17.1 gpt gold over 1.4 m plus an additional 235 gpt silver; TKR-22C: 1.67 gpt gold over 5.1 m from 31.9 m, including 0.4 m of 3.73 gpt gold plus an additional 82.2 gpt silver, and including 0.8 m of 4.02 gpt gold; TKR-23C: 2.62 gpt gold over 5.94 m from 102.3 m, and 4.98 gpt gold over 2.92 m plus an additional 97.3 gpt silver over 1.40 m.

“Our maiden drill campaign at Tokop was designed to confirm our initial structural interpretations for vein and alteration orientation, widths, and potential to host gold and silver mineralization. The results from our first three core holes confirmed our thesis that high-grade gold mineralization is present subsurface to surface-mapped veins. Additionally, the first two drill holes encountered the anticipated target (vein) much shallower (30-40 m) than expected, providing valuable information as to the sub-surface environment. We look forward to future results from the program,” said, CEO, Todd Hilditch. “Additionally, our ongoing sampling program has successfully identified excellent gold grades at surface. High-grade gold over several meter widths have been collected from outcrop and grab samples from dumps around historical workings have yielded multi-ounce gold assays (up to 71.73 gpt gold).”

Riley Gold’s initial HQ3 (oriented core) 18-hole drill program was designed to test and confirm the limited historical drilling relative to known vein sets mapped over 1.5 kilometers (“km”), as well as vein orientations in the sub-surface. Drilling is targeting gold mineralization in granitoid rocks of the Sylvania Stock, a late Jurassic to early Cretaceous multi-phase, reduced, calc-alkalic pluton. The stock intrudes carbonate sediments of the pre-Cambrian Wyman formation. Recent surface rock sampling revealed mineralization up to 71.73 gpt gold and up to 970 gpt silver in sheeted quartz veins, stockworks, and shear zones within the granites. Jasperoids along structures in the carbonates have yielded gold mineralization of several grams per tonne, up to several hundreds of meters away from the intrusive contacts. The initial surface rock sampling program extended 1.8 km from NW to SE and 3.6 km SW to NE. The high-grade results and geographic extent of the initial Riley Gold sampling program indicates that many untested areas exist within the Tokop project area of nearly 25 square km. The first round of drilling is focussed on one such area of interest comprising just 0.5 square km.