Vancouver, British Columbia--(Newsfile Corp. - April 8, 2024) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") is pleased to announce Mr. Paul Dobak has joined Riley Gold as a member of the technical advisory committee relative to its Nevada-based exploration including the Company's Pipeline West Clipper Gold Project ("PWC").
Riley Gold recently announced a USD$20M earn-in agreement on the PWC project with Kinross Gold Corporation. PWC constitutes a prospective exploration property for Carlin-type, disseminated and replacement gold deposits within a land package totaling approximately 24.7 square kms of unpatented mining claims and patented fee lands adjoining Nevada Gold Mines (a joint venture amongst Barrick Gold Corp. and Newmont Mining). PWC is situated along the Cortez Structural Zone of the exceptionally productive Cortez Trend within the Battle Mountain – Eureka Trend in north central Nevada (Figure 1).
Todd Hilditch, CEO, commented, "I am extremely pleased to welcome Paul to Riley Gold. The opportunity to learn from, and draw on, his wealth of experience in the mineral exploration field will be invaluable, particularly within the Cortez Trend, where the Kinross/Riley Gold PWC Project is located. Mr. Dobak has direct practical experience in Nevada's style of mineralization and deposits having worked with Barrick Gold Corporation in positions of increasing responsibility for 25 years and prior to that for Newmont Corporation as a Senior Geologist at the Carlin Mine."
About Paul Dobak:
Paul's experience with Barrick Gold includes 15 years as Chief Geologist – North America. In this very senior role, Paul supported the development of district exploration programs at Goldstrike, Cortez, Turquoise Ridge, Bald Mountain NV and Donlin Creek AK resulting in significant resource/reserve growth and the discovery of the Goldrush and Fourmile gold mines. From 2000-2005, Mr. Dobak was Chief Geologist – U.S.A Exploration where he oversaw the exploration and development of the Dee and Rossi projects resulting in the discovery of the Arturo gold mine and development of the Storm underground gold mine. He supported joint venture efforts at Round Mountain NV and district exploration efforts at Ruby Hill/Eureka NV after the Homestake acquisition. As Senior Geologist from 1995-2000, he lead and executed generative exploration programs for Carlin-type gold deposits in the Eastern Great Basin NV and volcanic-hosted deposits in the Western Great Basin NV. The programs resulted in the generation of grassroots and advanced stage gold projects including the acquisition of the Dee and Rossi properties on the Carlin Trend NV.
Prior to Barrick, Paul worked with Newmont for 8 years as a Senior Geologist in charge of exploration/development projects within the Lynn district of the Carlin-trend, including discovering the Northwest Extension at the Lantern deposit and completed the development work to bring Lantern to a production decision in 1995. Paul participated in the evaluation of the Yanacocha district in Peru and the Gaby Cu-Au porphyry in Ecuador.
Mr. Dobak is a senior-level geologist with an extensive range of technical and managerial experience from greenfields to advanced-stage exploration, acquisition, development, and production-related geological programs. He is a graduate of Colorado State University with a Master of Science Degree (Economic Geology) and completed his bachelor's degree at the University of California - Santa Barbara in geology.
Figure 1: PWC Location (project boundary approximate)
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Stock Option Grant:
The Company also announces that, pursuant to its stock option plan and subject to regulatory acceptance, it has granted an aggregate total of 1,180,000 incentive stock options to certain directors, officers, and consultants of the Company, subject to certain vesting provisions. These options will be exercisable at a price of $0.22 per common share and will expire on April 5, 2029.
About Riley Gold Corp.
Riley Gold is a mining exploration and development company focused in Nevada, USA. The Company's primary focus is on its Pipeline West/Clipper Gold Project located in the Battle Mountain Eureka Trend and the Tokop Gold Project located within the Walker Lane Trend. Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Todd Hilditch
Chief Executive Officer
Tel: (604) 443-3831
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.
Cautionary statement regarding forward-looking information
Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation (such statements being referred to as "forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR+ (sedarplus.ca). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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