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Riverside Resources Options Cecilia Project, Sonora, Mexico to Calu

RVSDF
  • Riverside Resources Inc. subsidiary Ravena Resources Corp. completed an option agreement with Calu Resources Corp. for the Cecilia Project in Sonora, Mexico.
  • Calu can earn a 100% interest in the project by making aggregate cash and share payments of C$1,200,000 and funding C$6,650,000 in exploration expenditures over five years.
  • Calu paid an initial C$50,000 cash commitment, with a required C$150,000 in exploration expenditures during the first 12 months.
  • Ravena will manage the exploration program and receive a 10% operations fee on eligible expenditures.
  • Riverside retains a 2.0% net smelter returns royalty, while Calu must grant Ravena an additional 0.5% royalty upon option exercise.
  • Calu holds the right to purchase the 0.5% royalty from Ravena for US$1,500,000 at any time before January 1, 2035.
  • Calu is a new private company planning a three-way amalgamation with Pender Capital to become public.
  • The Cecilia Project covers approximately 7,583 hectares near the US-Mexico border, with four key drilling targets identified and six additional permitted targets.
  • Riverside granted 1,650,000 stock options on September 4, 2026, exercisable at $0.41 per share, expiring September 4, 2031.
  • The company has no debt, fewer than 95 million shares outstanding, and focuses on gold-silver and copper assets in North America.