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Ridgeline Minerals Executes Exploration Earn-In Agreement with Nevada Gold Mines at the Carlin-East Gold Project, Nevada
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About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Ridgeline Minerals Executes Exploration Earn-In Agreement with Nevada Gold Mines at the Carlin-East Gold Project, NevadaJoin us for a Virtual Carlin-East Site Tour at 2:30pm ET July 17, 2023. Register for Free HEREVancouver, British Columbia--(Newsfile Corp. - July 17, 2023) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (\"Ridgeline\" or the \"Company\") is pleased to announce that it has entered into a transaction with Nevada Gold Mines LLC (\"NGM\" or \"Nevada Gold Mines\"), a joint venture between Barrick Gold and Newmont Corp., pursuant to which NGM can acquire an interest in Ridgeline's Carlin-East gold project (\"Carlin-East\"); a 19.5 square kilometer land package located directly on-trend of NGM's Fallon discovery (previously North Leeville) to the north of the Leeville mine in the prolific Carlin-Trend mining district of Nevada (Figure 1). NGM can incur a minimum of US$4.5 million (of which US$1.5 million is guaranteed) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in Carlin-East and will have further options to increase its interest to a total 75% interest as outlined below. NGM will assume operatorship of the project immediately. Highlights of the proposed earn-in agreement are outlined below.Chad Peters, Ridgeline's President, CEO & Director commented, \"We are delighted to add a second earn-in agreement to our growing partnership with Nevada Gold Mines. This deal validates our business model as we continue to exhibit our ability to find and advance exploration opportunities in Tier-1 districts. Our partnerships with Nevada Gold Mines now provide up to US$40 million in total potential exploration expenditures between the Swift and Carlin-East projects, which leverages NGM's proven track record of discovery while significantly reducing the exploration risk inherent with deep drilling in Nevada. We will continue to work closely with the NGM team with the goal of making the next major gold discovery in Nevada.Ridgeline's portfolio now offers a compelling mix of leveraged discovery potential through our partner projects as well as 100%-owned upside through our exploration pipeline of projects, led by our flagship CRD discovery at Selena and an emerging porphyry copper opportunity at Big Blue.\"Earn-In Agreement Highlights (all figures in USD)Reimbur...