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Riverside Resources Executes Option Agreement for the Revel Carbonatite Rare Earth Element Project, British Columbia

RVSDF
  • Riverside Resources Inc. entered into an option agreement with 1575540 B.C. Ltd. to potentially acquire a 100% interest in the Revel carbonatite rare earth element project in southeastern British Columbia.
  • The Optionee may acquire the project by making aggregate cash payments totaling $450,000 and incurring up to $2,200,000 in exploration expenditures over a 5-year period commencing February 18, 2026.
  • If the option is completed, Riverside retains a 3% net smelter returns (NSR) royalty; if not, the project reverts 100% to Riverside.
  • Milestone cash payments include $40,000 at signing, $60,000 at the 1st anniversary, $50,000 at the 2nd, $50,000 at the 3rd, $100,000 at the 4th, and $150,000 at the 5th anniversary.
  • Exploration expenditure requirements vary, with a mandatory $150,000 in year 1, escalating to $2,200,000 by year 4 unless gold prices are below $6,000/oz on January 1, 2029, in which case the requirement drops to $2,000,000.
  • Upon exercise of the option, the Optionee grants Riverside a 3% NSR royalty with buy-down rights to reduce the royalty to 2.5% for $1,000,000 prior to 2033, and further to 1.5% for an additional $2,000,000 prior to 2035.
  • Riverside will continue to provide technical input while the Optionee funds programs to advance the project toward drill testing of the 12-kilometre-long carbonatite system.
  • The Revel Project is located 20 kilometres from Seymour Arm, north of Revelstoke, within the Mount Grace Carbonatite, which hosts known rare earth element mineralization.
  • Next work includes airborne geophysics and field exploration expected in the summer of 2026, funded by the partner.
  • The scientific data was reviewed by Freeman Smith, P.Geo, a qualified person under National Instrument 43-101.