Strong Gold-In-Soil Results At PWC Gold Project Adjacent

VANCOUVER - Riley Gold Corp. reported on the exploration program for its Pipeline West/Clipper Gold Project (PWC) located in Lander County, Nevada. The exploration program focused on a large soil geochemical program, extensive field mapping, and a re-interpretation of geophysics. PWC consists of approximately 24.7 square kilometers (sqkm) in the heart of the Cortez District segment of the Battle Mountain – Eureka Trend. The Company has defined new high-priority drill target areas that have never been tested at PWC. Analytical results from the recently completed extensive soil survey identified significant anomalous gold-in-soil values extending more than 3 kilometers (km); Several pathfinder elements, associated with both Carlin-type and intrusive-related gold deposits, were also elevated. Re-interpreted Gravity, CSAMT, and Aero-Magnetic geophysical surveys support the new soil results, and recent geologic mapping provides a supporting structural foundation for the new soil results and geophysical survey interpretations. A drill plan is currently being developed for a maiden drill program expected in 2023.

“We are pleased to report successful results from our Fall/Winter 2022 exploration work at PWC and are excited to continue those initiatives into 2023. Our goal was to fill in critical gaps of project information and augment historical data, which has never been done within the PWC project. Our soil sampling program returned significant gold-in-soil results, as well as elevated pathfinder elements over a 3 km strike length. This zone is directly on trend with NGM’s Cortez Complex that currently has more than 18 million ounces of gold resource. Additionally, our extensive re-interpretation of previous geophysical surveys, combined with the exciting results from our new soil sampling, will help us model high quality drill targets,” said, Todd Hilditch, CEO.