Category Archives: Junior Mining

MIRAMONT Issues Lying Press Release

Mar 29, 2019For those who have not yet read Basic Investing in Resource Stocks, you should consider it. I predict the big collapse to come soon, very soon followed by what I term “The Big Reset”. Martin Armstrong just put out a piece essentially saying the same thing titled, The Financial Panic of 2019?I realized when I wrote my book in January of this year that I was climbing way out on a limb and sawing it off behind me. I am going to look either very stupid or very bright and only time will tell.With the advent of the Internet, control of the narrative has changed. For all of history the elite controlled the narrative. They told the masses, the mob as it were, how to think and how to vote. The Internet has changed all that. You can still lie to the throng but since most of the world has what is effectively free communication, whatever lie the elite try to pass off will soon be countered by some blogger somewhere who never had a voice before the Internet.Only two days after the appointment of Robert Mueller as special counsel to investigate some imaginary collusion between the Trump campaign and Russia in May of 2017, FBI agent Peter Strzok texted his paramour Lisa Page and said, “There’s no big there, there.”Now we have an announcement from William Barr, Attorney General of the United States that specifically stated, “The Special Counsel’s investigation did not find that the Trump campaign or anyone associated with it conspired or coordinated with Russia in its efforts to influence the 2016 U.S. presidential election.” In other words, it took Mueller almost two years to figure out what a Trump hating FBI agent knew right from the gitgo.Those who listen to the mainstream media may not have known the facts but anyone with a device similar to or better than a $200 smart phone had access all along to what was essentially a coup D’état on the part of chunks of the United States government against the democratically elected president of the US.And in a masterpiece of obfuscation Director Barr and William Mueller sorta ignored the very real involvement by Russia in the 2016 election in the form of the Russian Dossier made up of whole cloth by the Democrats, the FBI, the DOJ and the CIA.The elite long since lost control of the narrative. If you actually look around you can find a video of Victoria Nuland bragging about how the US spent $5 Billion, that’s Billion with a capital B, interfering with the democratic process in Ukraine.Charging Russia with interference in the US election of 2016 after the US pissed away $5 billion interfering in Ukrainian elections is nothing short of remarkable but not quite as remarkable as Donald Trump demonstrating the total and absolute control that Benjamin Netanyahu has over the US political system by his suggestion that Israel be allowed to permanently take control of the Golan Heights.I’ve written before how Sheldon Adelson essentially bought Donald Trump for a $35 million contribution to his political campaign in the 2016 election.The Zionist stranglehold on the American political system is so complete that the very first bill considered by Congress in the latest session would forbid Americans to boycott Israel. All this information is on the web.The elite have lost control of the narrative and alternative points of view are available for anyone willing to do a little research.Bill Pincus, President of Miramont Resources told me they began drilling in Southern Peru on the 22nd of January. The company planned nine drill holes in three major targets. It would take 3-4 weeks to get assays back. Three holes would be released at a time, representing each of the three targets.There was a chance assays for the first three holes would be back and released by PDAC. I have kept in close contact with Bill Pincus and been told for two months that those assays for the first three holes were not back.He lied.Yesterday, March 28th Miramont announced the results from six holes, not three as I have been told all along. And if you look closely you will find no assay results from the first three holes. But those should have been back and released a month ago. How did the company go from announcing three holes at a time to announcing that six holes had been assayed but only giving numbers for holes four, five and six.Easy. The assays from holes one, two and three were total duds and almost certainly were back a month ago. Bill Pincus knew that and failed to not only release the poor holes, he didn’t mention a word to Quinton Hennigh or the Board until this last weekend. And you have to look very closely at the press release to realize that while it talks about six assays, it only shows bits and bats from three holes.Pre-Internet days it was common for management of junior mining companies to get poor results and to sit on them in the hopes that later drill results would bail them out. I highly suggest that anyone working with me not pull that trick because it takes the decision to buy or sell shares out of the hands of investors where it belongs and allows corrupt management to essentially lie to investors.Drilling tells you two things. It tells you where the mineralization is and where it is not. It is just as important to know where there isn’t any ore as it is to know where there is ore.Putting out piss poor results is part and parcel of exploration. But it allows investors to reconsider if they really want to own the shares. If Miramont shareholders knew a month ago that the first three holes were barren they had the choice of selling their shares or buying more or just sitting.Since it is their money, it should have been their decision. By hiding the results of the first three holes Bill Pincus cost investors both money and the right to determine what to do with their shares.In simple terms, it was lying. I devoted an entire chapter in my latest book talking about dealing with liars. I have lost the most money investing in companies where management wouldn’t tell the truth. I had a major investment in Miramont and like 100% of other Miramont shareholders; I lost 66% of the value of my shares yesterday.Lying to me is a really bad idea.I sold a lot of the shares of Miramont I had bought in PPs and in the open market yesterday. I want to see major changes in how Miramont announces drill results. A change in management would help.Do your own due diligence.Miramont ResourcesMONT-C $.16 (Mar 28, 2019)MRRMF-OTCBB 54.8 million sharesMiramont Resources website###Bob MoriartyPresident: 321goldArchives321gold Ltd

RIVERSIDE Stakes New Concession in Sonora and Samples High-Grade Gold

 

VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) (RVSDF) (R99.F) is pleased to report initial results from the Company’s first-phase exploration program at the recently staked Sandy Project (the “Project”) located in northwestern Sonora, Mexico. Riverside continues to leverage its knowledge and experience in NW Mexico to cost-effectively acquire new prospective concessions with strong potential for new discoveries.

Riverside geologists have completed near surface sampling, mapping and geophysics to work up initial target areas at the Project. Riverside’s exploration team is targeting intrusion related and orogenic gold mineralization hosted by altered granite and linked with large structures adjacent to gneiss bedrock.

Riverside’s President and CEO, John-Mark Staude, stated: “The Sandy Project was a project the Company staked over a prospective area known to us from our past work in Sonora. We are pleased with the results from our first pass on the Sandy Project. Gold appears associated with large structures, intrusions and is an exciting potential step in the geologic deposit modeling for Sonora. We plan to follow up these positive results with some mapping and more sampling in 2019.”

The sampling done to date by Riverside has been concentrated on two areas in the center of the project with past historical mine workings (see Figure 1 below) associated with felsic intrusive stock and gneiss. A sample from one of these old workings returned 38.8 g/t Au. Chip channel samples of 1.5 meter in length returned gold results of 9.3 g/t, 4.7 g/t and 3.7 g/t Au. A total of 71 samples have been analyzed so far and further work at Sandy is anticipated to continue to define the structural nature and intrusion association to the gold.

Figure 1: Sandy Gold Target Areas and Geochemical Results.

Higher gold grades appear to be associated with intersecting structures within strongly foliated granitic intrusive bedrock. Primary structures strike NW-SE and dip between 40 and 70 degrees to the east in a general structural character with similar orientation and style to some of the shear zone gold mines in the region. Other smaller faults are noted striking roughly north-south and dipping steeply to the east which cut the main shear zone and could possibly hide extensive expansions of the gold system under shallow cover. The cross structures have been intruded by mafic dikes that show pervasive propylitic alteration indicating potential deeper intrusion related gold mineralization. The highest-grade gold material was found associated with a set of variously dipping felsic dikes which could be associated with the intrusive system. Silicification and minor quartz veining is noted associated with the structures and with through-going vein mineralization. The wall rock associated with these structures often shows sericitic and silica alteration.

Of note while visiting the property are the vast placer-gold workings immediately north of the project area. The source of the placer gold has not been determined and may be derived from intrusive bedrock within the Sandy project.

As can be seen in the district summary map (see Figure 1 above), the Riverside rock-chip samples confirm the existence of gold mineralization within the central part of the Company’s concession.

Click here to see the Sandy Project page on Riverside’s website.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Sandy Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The rock chip samples collected by Riverside’s field crew at the Sandy Project were taken from 4 main showings on the western slopes of the property, with most individual samples consisting of composites of bedrock fragments hammer-chipped from 0.5 and 1.5-metre-long intervals across rock faces showing evidence of alteration and silicification. The highest-grade sample which assayed 38.8 g/t Au was a select grab sample of loose rock found within a small underground working which are believed to date back to the 1960’s. The one grab sample is not representative of the mineralization that was chip-sampled from actual outcrops, however, they do support Riverside’s view that the Sandy property has excellent potential for the discovery of intrusion-related gold and silver mineralization. All of Riverside’s rock samples were analyzed at the Hermosillo and Vancouver laboratories of Bureau Veritas where gold content was determined by fire assaying with atomic adsorption finish and ICP-mass spectrometry was used to analyze for 45 other elements. For quality control purposes, three standard samples were included with the batch of 71 field samples.

About Riverside Resources Inc.:

Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:
John-Mark Staude Raffi Elmajian
President, CEO Corporate Communications
Riverside Resources Inc. Riverside Resources Inc.
info@rivres.com relmajian@rivres.com
Phone: (778) 327-6671 Phone: (778) 327-6671
Fax: (778) 327-6675 TF: (877) RIV-RES1
Web: www.rivres.com Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

GREAT BEAR Drills Multiple High-Grade Gold Veins in Hinge Zone Including 30.15 g/t Gold Over 7.25 m

 

Vancouver, British Columbia–(Newsfile Corp. – March 21, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”), today reported drill results from the Dixie Hinge Zone (“DHZ”) and Dixie Limb Zone (“DL”) at its 100% owned Dixie Project in the Red Lake District of Ontario.

Drilling continues to test along strike and at depth of the DHZ. Some of the DHZ drill holes also cross the adjacent DL at shallow depths and hence Great Bear is able to test both zones with the same drill holes. Hinge Zone drill results are provided in Table 1. Highlights of current drilling include:

  • Drill hole DHZ-031 intersected four significant gold bearing quartz veins along a 141 metre wide zone of increased quartz veining and alteration in the DHZ vein system.
  • Gold-bearing vein intercepts from DHZ-031 include:

a) 7.25 metres of 30.15 g/t gold, which includes 1.50 metres of 130.49 g/t gold,

b) 4.00 metres of 11.72 g/t gold, and

c) 0.50 metres of 60.72 g/t gold.

  • The high grade intercepts in DHZ-031 occur 20-60 metres west of previously reported drill hole DHZ-023 which included 3.40 metres of 31.60 g/t gold (see news release of February 21, 2019).
  • 26 of 42 drill holes (62%) completed by Great Bear along 240 metres of strike length of the DHZ that has been drilled to date have intersected intervals containing greater than 15 g/t gold.
  • Results of shallow drilling of the Dixie Limb Zone are also provided in Table 2.Highlights include 39.20 metres of 2.07 g/t gold starting at approximately 25 metres depth, including 9.20 metres of 5.43 g/t gold which includes 0.70 metres of 20.46 g/t gold.

Chris Taylor, President and CEO of Great Bear said, “The Hinge Zone continues to rapidly expand as we keep stepping out along strike and at depth. In our most recent results, drill hole DHZ-031 intersected a gold-bearing quartz vein network consisting of multiple high grade veins within a 141 metre (462 foot) wide drill interval. All current drilling is designed to cross the Hinge Zone at approximately right angles, meaning the interval widths are approximate true widths. The vertical depth of the DHZ-031 intervals ranges from approximately 60 to 190 metres from the surface. The scale and strength of near-surface multi-veined gold mineralization at the Hinge Zone continues to impress.”

An updated long section through the Hinge Zone is provided in Figure 1, showing the location of current reported drill intercepts. Images of high grade gold mineralization from DHZ-031 are shown in Figure 2.

The Company continues to undertake a fully funded, 30,000 metre drill program that is expected to continue through 2019. In order to accelerate the program, a second drill rig was added in early 2019. Approximately 13,000 metres of drilling remain in the current program.

Table 1: Most recent drill results from Hinge Zone drilling.

Drill Hole
From (m)
To (m)
Width* (m)
Gold (g/t)
Vein
Vertical Depth (m)
DHZ-026
269.10
271.10
2.00
8.07
1
218
including
269.10
269.60
0.50
24.27
DHZ-027
Anomalous
DHZ-028
192.00
192.50
0.50
4.63
1
165
and
206.20
208.25
2.05
10.94
2
177
including
206.20
207.20
1.00
22.07
and including
206.70
207.20
0.50
41.27
DHZ-029
174.80
175.30
0.50
32.60
1
158
and
222.00
227.50
5.50
2.01
2
201
including
226.50
227.50
1.00
6.27
and
248.60
257.70
9.10
3.52
3
224
including
248.60
249.90
1.30
21.02
and including
248.60
249.40
0.80
34.06
DHZ-030
156.40
159.30
2.90
1.63
1
140
including
158.80
159.30
0.50
4.90
and
170.90
171.60
0.70
4.97
2
153
DHZ-031
68.50
70.00
1.50
5.91
1
64
and
136.50
143.75
7.25
30.15
2
128
including
136.50
141.00
4.50
48.47
and including
136.50
139.75
3.25
66.62
and including
136.50
138.50
2.00
99.73
and including
137.00
138.50
1.50
130.49
and
181.00
181.50
0.50
60.72
3
169
and
198.00
209.50
11.50
4.36
4
191
including
204.50
209.50
5.00
9.70
and including
205.50
209.50
4.00
11.72

 * reported width is determined to be 90-95% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data.

Drilling in the Dixie Limb continues to define shallow, wide intervals of gold mineralization, including high grade sub-intervals. The DL drill intervals are presented separately in Table 2. As drill holes like DHZ-026 are collared north of the DL and drill southwards into the DHZ at depth, these holes carry intervals from both zones.

Two exploratory step-out drill holes, DL-038 and DL-039 have encountered a new gold-mineralized silicified sediment zone similar to the DL. These holes were drilled from the DL across the D2 axial planar fault that divides the DL from the DHZ towards the south, into an area east of the DHZ. Results are included along with DL drill results in Table 2. These intercepts may represent a new zone of gold mineralized sediments, or may be an offset continuation of the Dixie Limb Zone in the footwall of the fault. Follow-up drilling is required to characterize this new discovery.

Two exploratory step-out drill holes, DHZ-024 and DHZ-025 were also completed east of the Hinge Zone fold closure (outside of the Hinge Zone) and encountered anomalous gold values of 0.92 metres of 1.46 g/t gold and 0.50 metres of 1.52 g/t gold, respectively, confirming gold is also present in this new area. Follow-up drilling is required to determine if significant gold-bearing quartz veining is also developed in this new area.

Table 2: Current drill results from the Dixie Limb Zone.

Drill Hole
From (m)
To (m)
Width* (m)
Gold (g/t)
Vertical Depth (m)
DHZ-026
40.80
80.00
39.20
2.07
34
including
56.80
80.00
23.20
3.19
47
and including
64.00
76.20
12.20
4.87
and including
67.00
76.20
9.20
5.43
56
and including
67.00
69.50
2.50
7.68
and including
74.50
76.20
1.70
11.62
62
and including
75.50
76.20
0.70
20.46
DHZ-027
48.50
63.15
14.65
1.12
43
including
61.15
63.15
2.00
5.19
54
and
72.40
85.00
12.60
3.45
64
DL-038**
347.55
349.05
1.50
0.34
324
DL-039**
219.75
224.75
5.00
2.27
195
including
219.75
221.25
1.50
4.51

 *All reported widths are drill indicated core length. Insufficient data has been collected at this time to determine true widths. **These drill holes have intersected mineralized sediments in the footwall of the local D2 axial planar fault located south the DL, and east of the DHZ. They may represent a new zone, or offset continuation of the DL.

 

Figure 1: Composite Long section through the DHZ (view to north) as drilled to-date showing currently reported drill results, and the location of recent step-out drilling. New results are highlighted in yellow.

Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/62768e51023a6034f3ae4cb3ccaff309
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Figure 2: Images of high grade gold in drill core from DHZ-031. Interval returned 1.50 metres of 130.49 g/t gold.

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To view an enhanced version of  Figure 2, please visit:
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About Great Bear

The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10 kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in the West Madsen, Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ancaster Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Selected samples with visible gold are also analyzed with a standard 1kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43578

NV Gold Announces Upsizing of Private Placement to CDN$1,000,000

VANCOUVER, BC / ACCESSWIRE / March 21, 2019 / NV Gold Corporation (TSX.V: NVX; OTC PINK: NVGLF) (“NV Gold” or the “Company“) is pleased to announce that due to strong interest, the Company has increased the previously announced non-brokered private placement (see news release dated March 19th, 2018) up to $1,000,000 (the “Placement”).

The Placement is an offering of up to 8,333,333 units (the “Units”) at CDN$0.12 per Unit. Each Unit consists of one Share and one-half of one Warrant exercisable at CDN$0.20 per share for 30 months from issue of the Units. A finder’s fee is payable on subscriptions by certain of the subscribers of 7% of the cash proceeds paid by such subscribers and warrants to purchase 7% of the number shares issuable to such subscribers in respect of their subscriptions for Units.

Closing of the Placement is conditional on acceptance of the TSX Venture Exchange. The proceeds of the Placement will be used by the Company for the advancement of existing properties, potential acquisition new properties, and for general working capital.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About NV Gold Corporation

NV Gold is a junior exploration company based in Vancouver, British Columbia that is focused on delivering value through mineral discoveries. Leveraging its highly experienced in-house technical knowledge, NV Gold’s geological team intends to utilize its geological databases, which contains a vast treasury of field knowledge spanning decades of research and exploration, combined with a portfolio of mineral properties in Nevada, to prioritize key projects for focused exploration programs.

On behalf of the Board of Directors,

Peter A. Ball
President and COO

For further information, visit the Company’s website at www.nvgoldcorp.com or contact:

Peter A. Ball, President & COO
Phone: 1-888-363-9883
Email: peter@nvgoldcorp.com

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 release.

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the proposed raising of CDN$X,XXX,XXX and the proposed uses of such funds and other future plans and objectives of the Company, including exploration plans, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/539704/NV-Gold-Announces-Upsizing-of-Private-Placement-to-CDN1000000

MILES FRANKLIN As March 29th Approaches Central Banks Around the World Are Buying Gold – WHY?

 

David’s Commentary (In Blue)
I am on vacation this week and most of next week. I will be publishing my column just once this week and, only on Wednesday next week. I plan to be back to twice a week in April.
China just printed a trillion new dollars – in one month. Japan has kept their economy afloat for years with money creation – they buy a majority of their debt (bonds) every year, and stocks too. The Fed does whatever it has to keep the economy going, starting with their low interest rate policy. I’ll get back to this point shortly.
But first, Jim Sinclair pointed out how unrealistic it is to expect fiat paper to continue to be a store of value in the future. This is a charade that must come to an end. Of course the sixty-four-thousand-dollar question is “when?”
A friend of mine is my personal banker. A while ago I told him I wanted a six-figure line of credit. I didn’t have a need for it, but I thought it would be nice to have, just in case. He said the bank needed collateral so I decided to use some of my gold as backing for the line of credit. To my surprise, he would only allow me 60% of the value of the gold. I didn’t mind that the gold would be stored in the bank’s vault but it rubbed me the wrong way that the bank regulators did not allow banks to use gold as collateral at market value.
According to the Basil III Standards, gold is not as good as cash or government bonds.Isn’t that ridiculous. However, that’s about to change in April.
The BIS ruling states that Central banks and commercial banks will necessarily value their “financial” and real gold at market price.
The reason the Fed values its gold on its asset side at only $42 per ounce is because the gold is valued at book value by the Treasury, and the Fed’s gold is actually only gold certificates valued at no more than the statutory price of their issuance in 1934 which matches the book value of the Treasury gold. Will the Treasury revalue its physical gold at FRBNY and Fort Knox? Will the Treasury allow the Fed’s gold certificates to be valued at market? What are the implications if they don’t? Will they be forced to “audit” their physical gold holdings, that many believe are no longer there? This should be interesting. But finally, gold will be able to be used as collateral at market value.
Jay Taylor: Under “Basel III” Rules, Gold Becomes Money!
March 17, 2019
Excepted from Jay Taylor’s latest newsletter,
This also raises the question with regard to how much gold the U.S. actually holds as opposed to what it claims to hold. James Sinclair has always argued that the only way the world can overcome the debt that is strangling the global economy is to remonetize gold on the balance sheets of central banks at a price in many thousands of dollars higher. This would mean a major change in the global monetary system away from the dollar, as China has been pushing for the last decade or so.
If banks own and possess gold bullion, they can use that asset as equity and thus this will enable them to print more money. It may be no coincidence that as March 29th has been approaching banks around the world have been buying huge amounts of physical gold and taking delivery. For the first time in 50 years, central banks bought over 640 tons of gold bars last year, almost twice as much as in 2017 and the highest level raised since 1971, when President Nixon closed the gold window and forced the world onto a floating rate currency system.
It seems quite clear that someone or some group of individuals are motivated to cap the price of gold. Profit is a motive. In JPMorgan’s case, they have made billions by shorting gold and silver. The US Treasury and the Fed love to see cheap gold. A rising gold price usually is accompanied by rising interest rates and that is not in their best interest. But here is another reason, and it is tied to the new Basel 3 gold revisions.
Financial analysis published two weeks ago by a major Italian newspaper, Il Sole / 24 Ore (The Sun / 24 Hours), asserted frankly that central banks have been using gold futures and derivatives to suppress the monetary metal’s price so they can obtain more of the metal less expensively in advance of its remonetization under new rules promulgated by the Bank for International Settlements to take effect March 29.
Of course the new BIS rules, the “Basel 3” standards, declaring gold in the vault to be a superior asset, equivalent to cash and government bonds, are not news. What’s news here is that a mainstream financial news organization has nailed the deception and intrigue of central banks and accused them of rigging the international gold market.
Il Sole/24 Ore may be the first mainstream financial news organization to suggest that central banks are rigging the market so they might obtain more gold in anticipation of remonetizing it and pushing its price up, but the newspaper isn’t the first to reach this conclusion. The U.S. economists and fund managers Paul Brodsky and Lee Quaintance hypothesized as much in a study published in 2012 and called to your attention by GATA.
[Excepted from Jay Taylor’s latest newsletter]
In 2018, central banks added nearly 23 million ounces of gold, up 74% from 2017. This is the highest annual purchase rate increase since 1971, and the second-highest rate in history. Russia was the biggest buyer. And not surprisingly, the lion’s share of gold is flowing into central banks of countries that are in the sights of America’s killing machine-the Military Industrial Complex that Eisenhower warned us about in 1958.
The Bank for International Settlements (BIS), located in Basal, Switzerland, is often referred to as the central bankers’ bank. Related to this issue of central bank hoarding of gold is the fact that on March 29 the BIS will permit central banks to count the physical gold it holds (marked to market) as a reserve asset just the same as it allows cash and sovereign debt instruments to be counted.
There has been a long-term view that China and other nations dishoarding dollars in favor of gold have been quite happy about western banks trashing the gold price through the synthetic paper markets. But one has to wonder if that might not change, once physical gold is marked to market for the sake of enlarging bank balance sheets.
This also raises the question with regard to how much gold the U.S. actually holds as opposed to what it claims to hold. James Sinclair has always argued that the only way the world can overcome the debt that is strangling the global economy is to remonetize gold on the balance sheets of central banks at a price in many thousands of dollars higher. This would mean a major change in the global monetary system away from the dollar, as China has been pushing for the last decade or so.
If banks own and possess gold bullion, they can use that asset as equity and thus this will enable them to print more money. It may be no coincidence that as March 29th has been approaching banks around the world have been buying huge amounts of physical gold and taking delivery. For the first time in 50 years, central banks bought over 640 tonnes of gold bars last year, almost twice as much as in 2017 and the highest level raised since 1971, when President Nixon closed the gold window and forced the world onto a floating rate currency system.
But as Chris Powell of GATA noted, that in itself is not news. The move toward making gold equal to cash and bonds was anticipated several years ago. However, what is news is the realization by a major Italian Newspaper, II Sole/24 Ore, that “synthetic gold,” or “paper gold,” has been used to suppress the price of gold, thus enabling countries and their central banks to continue to buy gold and build up their reserves at lower and lower prices as massive amounts of artificially-created “synthetic gold” triggers layer upon layer of artificially lower priced gold as unaware private investors panic out of their positions.
This worthwhile commentary from Jay, which I’ve read in its entirety, was posted on the Zero Hedge website in abridged form at 11:29 a.m. EDT on Sunday morning — and the first reader that dropped it in my in-box was Judy Sturgis. Another link to it is here.
I write about bubbles and interest rates a lot. Recently a Fed bigwig wrote an article that stated the Fed cannot normalize policy EVER without blowing up all of the bubbles in the financial system. Keeping interest rates this low fosters speculation and will push the financial bubbles even further into never-never land. When this all comes to an end, it will be horrific. What better way to prepare for the inevitable than to own gold and silver? The bubbles are real. The debasement of currency and bonds are real. None of this is imagined. The Fed understands this and the danger in keeping rates low, but they finally are getting around to admitting that they have no choice.
Phoenix Capital
A Fed Insider Comes Clean on the Everything Bubble
The Fed just realized two things:
1)  It cannot normalize policy EVER without blowing up the Everything Bubble/ financial system.
2)  The Fed is well behind the curve when it comes to dealing with the next downturn.
Regarding #1, we’ve had some developments in the last month.
Recently, Dallas Fed President Robert Kaplan published an article on one of the Fed’s websites outlining the risks to the corporate bond market.
U.S. nonfinancial corporate debt as a percentage of GDP is now higher than the prior peak reached at the end of 2008…Nonfinancial corporate bonds outstanding in the U.S. grew from approximately $2.2 trillion in 2008 to approximately $5.7 trillion at year-end 2018…
Source: The Dallas Fed
Kaplan is here admitting that the US corporate space is now MORE leveraged to the real economy than it was in 2008. He notes, that as a result of this, the US economy is MUCH more sensitive to interest rates.
An elevated level of corporate debt, along with the high level of U.S. government debt, is likely to mean that the U.S. economy is much more interest rate sensitive than it has been historically.
Source: The Dallas Fed
Even more astonishing Kaplan stated that THIS was the reason why the Fed has decided to stop hiking interest rates!
In January I suggested this was the primary reason why the Fed made such an abrupt U-turn regarding monetary policy. It’s truly extraordinary that a Fed President is confirming this in public.
Remember, the primary mandate of the Fed is to maintain financial stability. This inherently means downplaying risks/ potential threats to the financial system/economy. So as much as you or I would like the Fed to be bluntly honest, the fact is that the Fed has to sugarcoat things to avoid panics.
With that in mind, the above admission by Fed President Kaplan is BEYOND extraordinary. Here we have the head of a regional Federal Bank admitting on record that the financial system, specifically the corporate bond market, is now MORE leveraged than it was in 2008 as direct result of Fed policy.
Even more astonishing for a Fed official, Kaplan is admitting that the US economy is now much more sensitive to interest rates. Put another way, the entire US economy/ financial system has become one gigantic bubble that requires extreme monetary policy (extraordinarily low interest rates) to NOT blow up.
This is literally the definition of the Everything Bubble.
If you aren’t actively taking steps to prepare for this, you need to start NOW.
On that note, we are putting together an Executive Summary outlining all of these issues as well as what’s coming down the pike when the Everything Bubble bursts.
It will be available exclusively to our clients. If you’d like to have a copy delivered to your inbox when it’s completed, you can join the wait-list here.
Best Regards
If you believe that there must be an endgame to all of this debt, money creation, and bubble-inducing madness, then I suggest that you also consider the following inevitable result on the precious metals market. Let me start by giving you an example. We have a client whose net worth is more than $350,000,000. He has already purchased $10,000,000 worth of gold. At the first sign of a credit collapse, interest rates rising rapidly out of control or of the dollar falling fast (having lost its Petro Dollar or Reserve Currency status), he is prepared to purchase an additional $50,000,000 worth of gold. If we had to go into the marketplace today and place an order of that size I don’t think we could fill it – at least not immediately. That would be just one order from one client.
When it becomes clear that the time to own gold and silver is actually upon us, one of two things will happen. The metals may not be available at all, you will have to pay a great deal more, and wait to take delivery.
We have already experienced several periods when gold or silver were not available from the primary distributors (Mints, Refiners, etc.). They were sold out and backordered. This happened when the prices dropped too low and while the demand rose. But when there is a stampede to buy gold and silver that is not precipitated by low prices, but rather by rapidly rising prices fostered by greed and fear of a collapse in the currency or credit markets, the demand will be much, much greater. You better have a very strong relationship with your dealer and hope that they can put you near the top of what will be a very long list of orders. This is not a scare tactic, it is a fact. It is exactly how the market will work. It will freeze up and supply will vanish, prices will rise. What is an ounce of gold or silver in scarce supply worth when people are desperate to unload their dollars to purchase it? Ask the people in Venezuela.
Are confident that you know how this must end up? The facts are adding up pointing to a very unhappy ending that is moving closer by the day. You should remind yourself that when you think it is convenient to take your position in gold and silver they may not be available for purchase, or if they are, you will have to wait a long time to take delivery paying a huge premium for the privilege of getting some precious metals at all.
I ask myself, why are we doing so much business in the last six months with gold and silver still so very much out of favor by the main stream? Because many of our clients are aware of what I just wrote (above). They understand that being early is the only safe option and they can see the handwriting on the wall. The stock market, the bond market and the dollar are ALL under pressure.
I will end this with a few comments from our friend Jim Sinclair – still “Mr. Gold” in our mind….
Jim Sinclair
WHEN WILL THE PARTY END?
The manipulators of paper gold can temporarily do anything. The operative word there in being temporarily.
The equation is gold versus run away insane debt levels, plus now we see QE in its true GLOBAL form as to INFINITY.
YOU NEED TO MAKE YOUR DECISION AND NOT OVER-INTELLECTUALIZE IT.
Do you really believe that fiat paper will maintain, and therefore store the value of what you have? Sorry, it simply will not.
As such GOLD is your savings account.
End of story!
Archived Newsletters
About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
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AGORA FINANCIAL Gold Speculator Portfolio Update

To get more great content from Agora Financial click here.
Riverside Resources (OTCBB: RVSDF)
Maintain Buy up to: $0.24
Position sizing: 1.5%

Riverside is a prospect generator that works mainly in northern Mexico, Sonora state. I’ve visited several of the company’s sites. In fact, I was down there this past weekend.

Shares traded down in the past month. Shares are slightly down over the past six months and year.

Riverside recently raised over $2 million via “oversubscribed” private placement. It’s a vote of confidence in the company and its CEO John-Mark Staude.

I visited a couple more Riverside mineral claims the other day down in Sonora. Let’s begin with this shot from the pickup truck… Indeed, you know you might be onto something when the roads are paved with copper ore!

IMG 1

Copper mineralization in road gravel. BWK photo.

The green stuff is malachite, mostly; it’s copper mineralization that coats gravel in an ancient outwash/conglomerate system. The source (the technical term is “up-gradient origin”) is a nearby, massive copper porphyry… a true mountain of copper ore.

There’s been a bit of historic mining in the area but not much. Indeed, most of the ore body has barely been picked over topside by miners of old, and almost none of it has felt the gentle touch of a drill bit. But Riverside has consolidated the hodgepodge of claims into a much better package for purposes of bringing in a partner. It’s ready to go now. (Note: I said “now.”)

During one stop along the field-trip route, John-Mark and I were literally walking on high-grade copper ore (the green stuff). Like this…

IMG 2

Your editor and Riverside CEO John-Mark Staude, walking on copper. BWK photo.

We were in the midst of a mineralized trend that’s literally miles-by-miles in dimension. It’s eastern Sonora, just west of the foothills of the mighty Sierra Madre mountain range. It’s volcanic caldera country — think of Yellowstone Park.

There’s placer gold mining in every streambed, water supply permitting. And there’s hard-rock mining to the east and west. The secret to success here is that much of the Riverside claim is buried, in some places under a thin layer of volcanic ash, like what you see here in this shot.

IMG 3

Your editor walks on volcanic ash, accompanied by a curious ranch dog. BWK photo.

Copper and gold. You want it? Right here… Riverside is absolutely ripe for a major combination with a larger company. The land position is second to none. The mineralization is vast, high grade, big size and eminently scalable. Company staff have done a splendid job of obtaining land position, permits, agreements with locals, nearby political support and more.

As a prospect generator, Riverside is in the business of developing multiple parallel stories, which add value. Stand by… That added value is likely to show up very soon! If you don’t own shares, get some. Maintain buy on Riverside up to $0.24.

RISE GOLD Intersects 90 gpt Gold Over 4.3 meters at Idaho-Maryland

New drill intercept in Idaho Vein assays 90.4 gpt gold / 4.27 m (2.6 oz per ton / 14.0 ft)New drill intercept includes 458 gpt gold over 0.81 m (13.4 oz per ton / 2.7 ft) Additional drilling targeting Idaho #1 Vein currently in progressMultiple 52 Vein intersections assayed up to 15.4 gpt gold over 1.63 m (0.45 opt / 5.3 ft)A shallow vein near surface assayed 8.5 gpt gold over 2.88 m (0.25 opt / 9.4 ft)

Vancouver, British Columbia–(Newsfile Corp. – March 19, 2019) – Rise Gold Corp. (CSE: RISE) (OTCQB: RYES) (the “Company“) is pleased to announce additional assay results from on-going diamond core drilling at the Idaho-Maryland (“I-M”) Gold Project.

The exploration drill program at the Idaho-Maryland continues to be successful. Recent drilling intersected the Idaho #1 Vein below historic mining areas and intersected the 52 Vein area prior to reaching the Idaho #1 Vein target. A shallow vein was also intersected at 259 m.

TABLE 1 – New Drill Hole Intercept Highlights

Hole
From (m)
To (m)
Gold
(gpt)
Intercept
Length
(m)*
Vein
Idaho #1 Vein
I-18-11
1381.86
1384.33
3.6
2.47
Idaho #1
I-19-13
1007.97
1013.09
5.5
5.12
Idaho #1
I-19-13A
1005.31
1009.57
90.4
4.27
Idaho # 1
Including
1008.77
1009.57
458.0
0.81
Near Surface
I-18-11
259.16
262.04
8.5
2.88
?
Including
261.14
262.04
18.8
0.90
52 Vein Area
I-18-11
975.50
976.70
19.2
1.20
52
I-18-11
992.25
993.88
15.4
1.63
52
Including
992.70
993.22
35.6
0.52
I-18-11
1046.17
1052.58
3.9
6.42
52
I-18-11
1142.33
1144.08
5.4
1.75
52
I-18-12
950.50
960.49
2.6
9.98
52

*The Company is not able to estimate true widths for the intersected mineralization until further drilling is completed.

Very high-grade gold mineralization was encountered in drill hole I-19-13A which assayed 90.4 gpt gold over 4.27 m (2.6 oz per ton / 14 feet). Rise Gold has interpreted this intercept to represent a significant down-dip extension of the historic Idaho #1 Vein. The intercept in I-19-13A is near the elevation of the lowest haulage level of the mine accessed by the existing vertical mine shaft.

FIGURE 1 – Visible Gold in Drill Intercept I-19-13A (in retained half core)

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To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2255/43502_b873fb6414782965_002full.jpg

The Idaho #1 Vein was the most productive and highest-grade vein of the I-M Mine. Historic production from the Idaho #1 Vein is estimated at 935,000 oz of gold with an average head grade of 38.7 gpt (1.12 opt) gold. Total historic production from the Idaho Veins is estimated at 1,621,000 oz of gold with an average head grade of 28.4 gpt (0.74 opt) gold.

Idaho #1 Vein Drilling

The mineralized intercepts in drill holes I-19-13 and I-19-13A consist of a quartz shear vein and extensive zones of quartz-sericite-pyrite alteration in the walls of the vein.

  • Drill hole I-19-13A was wedged from drill hole I-19-13 and the holes are offset approx. 1.5 meters apart at the vein intersection
  • The vein in I-19-13 assayed 5.5 gpt gold over 5.12 m (0.16 opt / 16.8 ft)
  • The vein in I-19-13A assayed 90.4 gpt gold over 4.27 m (2.64 opt / 14.0 ft)
  • The weighted average of both holes is 44.1 gpt gold over 4.69m (1.29 opt / 15.4 ft)
  • I-19-13A includes a sample which assayed 458 gpt gold over 0.84 m (13.36 opt / 2.7 ft)
  • The vein in I-19-13A contains coarse visible gold in some samples of retained half core
  • A 40 m wide zone of alteration surrounds the vein with an average grade of ~1.5 gpt gold and individual samples assaying up to 12 gpt gold

Drill hole I-18-11 intersected the Idaho #1 Vein approx. 525 m along strike to the north-west and 200 m below I-19-13A. The intercept consists of a quartz shear vein and extensive zones of quartz-sericite-pyrite alteration in the walls of the vein.

  • The vein in I-18-11 assayed 3.6 gpt gold over 2.47 m (0.11 opt / 8.1 ft)
  • A 100 m wide zone of alteration surrounds the vein with an average grade of ~1.1 gpt gold and individual samples assaying up to 8 gpt gold
  • Additional drilling in the area of I-18-11 may reveal coarse gold similar to I-19-13A

Drill hole I-18-13A and I-18-11 are located 120 m and 320 m vertically below the I2400 level, the lowest level of exploration on the Idaho #1 Vein. Historic drifts were driven from each end of the vein and reported to be in gold mineralization at the time the mine was shut down.

  • I2400L West: historic channel samples of the vein and wallrock averaged 19.9 gpt gold over 1.93 m (0.58 opt / 6.4 ft) for a distance of 165 m to the final shutdown face
  • Channel samples include assays up to 481 gpt gold over 1.16 m (14.0 opt / 3.8 ft)
  • I2400L East: drifting in the Idaho #1 Vein was reported to be “well mineralized” over a distance of 76 m to the final shutdown face

Drill hole I-18-12 was designed to test the down-dip extension of the mineralization encountered in I-18-11 but significantly deviated and did not reach the intended Idaho #1 Vein target.

Rise Gold is currently drilling the Idaho #1 Vein target between I-19-13A and I-18-11 and utilizing directional drilling to improve the accuracy of drilling and expedite the next intercepts.

A summary of drill hole assay results from recent exploration diamond drilling on the Idaho #1 Vein target are presented in Table 1 and illustrated in Figure 2. A photo of coarse visible gold in drill hole I-19-13A is displayed in Figure 1.

The Isometric drawing (Figure 2) showing the recent drill hole intercepts in the Idaho area can be downloaded from the following link.

https://riseg.sharefile.com/d-s8bc52c537474e41a

FIGURE 2 – Idaho Vein Intercepts – Isometric View

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To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2255/43502_b873fb6414782965_003full.jpg


52 Vein Area Drilling

Drill holes I-18-11 and I-18-12 drilled though the 52 Vein area en route to the Idaho #1 Vein target.

Important gold mineralization related to the 52 Vein was intersected in drill holes I-18-11 & I-18-12. The 52 Vein intercepts are located approximately 242 m and 125 m north-east of the previous drill intercept in drill hole I-18-10.

A similar style of mineralization to I-18-10 was encountered with a wide flat lying shear vein and high-grade extensional veins in the walls of vein.

Drill hole I-18-10 assayed 149.3 gpt gold over 6.8 m, including 2,190 gpt gold over 0.47 m and was previously reported by news release on Dec 13th 2018.

https://www.risegoldcorp.com/uploads/content/Dec13RiseGoldIntersects149gptgoldover6.8metersatIdahoMaryland.pdf

The current drill program is focussed on the Idaho #1 Vein target and therefore the 52 Vein intercepts are incidental to the Idaho #1 Vein drilling. The 52 Vein represents a large and compelling target for a focussed drilling program in the future.

A summary of drill hole assay results from recent exploration diamond drilling on the 52 Vein target are presented in Table 1 and illustrated in Figure 3.

FIGURE 3 – 52 Vein Intercepts – Plan View

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To view an enhanced version of Figure 3, please visit:
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Quality Control and Assay Methods

Richard Lippoth, M.Sc, CPG, the qualified person for the exploration drill results disclosure contained in this news release, has studied the drill core discussed in this news release and has reviewed the analytical and quality control results. Mr. Lippoth has reviewed and approved the scientific and technical contents of this news release.

Benjamin Mossman, P.Eng, CEO of Rise Gold, is the qualified person for the historic production disclosure contained in this news release. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com.

Rise has implemented a quality control program for its drill program to ensure best practice in the sampling and analysis of the drill core. This includes the insertion of blind blanks, duplicates and certified standards. HQ- and NQ-sized drill core is saw cut with half of the drill core sampled at intervals based on geological criteria including lithology, visual mineralization, and alteration. The remaining half of the core is stored on-site at the Company’s warehouse in Grass Valley, California. Drill core samples are transported in sealed bags to ALS Minerals analytical assay lab in Reno, Nevada.

All gold assays were obtained using a method of screen fire assaying. This procedure involves screening a large pulverized sample of up to 1 kg at 100 microns. Any +100 micron material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction result. The -100 micron fraction is homogenized and two sub-samples of 30-50 grams are analyzed by fire assay with AAS finish. If the grade of the material exceeds 10 gpt the sample is re-assayed using a gravimetric finish. The average of the two results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions.

About Rise Gold Corp.

Rise Gold is an exploration-stage mining company. The Company’s principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA. The Idaho-Maryland Gold Mine is a past producing gold mine with total past production of 2,414,000 oz of gold at an average mill head grade of 17 gpt gold from 1866-1955. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com. Rise Gold is incorporated in Nevada, USA and maintains its head office in Vancouver, British Columbia, Canada.

On behalf of the Board of Directors:

Benjamin Mossman
President, CEO and Director
Rise Gold Corp.

For further information, please contact:

RISE GOLD CORP.
Suite 650, 669 Howe Street
Vancouver, BC V6C 0B4
T: 604.260.4577
info@risegoldcorp.com
www.risegoldcorp.com

The CSE has not reviewed, approved or disapproved the contents of this news release.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks, uncertainties and assumptions related to certain factors including, without limitation, obtaining all necessary approvals, meeting expenditure and financing requirements, compliance with environmental regulations, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. Rise undertakes no obligation to update forward-looking statements or information except as required by law.

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RIVERSIDE RESOURCES Inc. Closes $2.8 Million Private Placement

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) is pleased to announce it has closed its previously announced private placement. The placement was over-subscribed and the Company issued 17,488,875 units at a price of $0.16 per unit for gross proceeds of $2,798,220 instead of the 9,375,000 units ($1,500,000) originally contemplated.

Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after July 20, 2019, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.

Management and insiders subscribed for 845,000 Units for $135,200 in total proceeds to the Company.

With respect to a portion of the funds raised in the private placement, the Company paid finders’ fees of $87,312 to Sprott Global Resource Investments Ltd., $20,076.80 and 12,000 Units to Haywood Securities Inc., 16,000 Units to Canaccord Genuity, and  $1,280 to PI Financial Corp.

All securities issued pursuant to the private placement and as finders’ fees will be subject to a four-month hold period expiring on July 20, 2019.

The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships.

The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone:  (778) 327-6671
Fax:  (778) 327-6675
Web:  www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.