Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") is pleased to announce that drilling is underway at the Company's Pipeline West/Clipper Gold Project ("PWC") by Kinross Gold U.S.A., Inc. ("Kinross"), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC).

Riley Gold entered into an exploration and venture option agreement (the "Agreement") with Kinross on March 13, 2024. The Agreement grants Kinross the right to earn up to a 75% interest in Riley Gold's PWC project by spending a minimum of US$20 million (see news release dated March 14, 2024 for details). PWC is located in Lander County, Nevada and consists of approximately 24.7 km² in the heart of the significant gold producing Cortez District (Battle Mountain - Eureka Trend). Kinross is funding and operating PWC and has a strategic 9.9% (on a partially diluted basis) equity interest in the Company acquired through a private placement.

"We are excited to have partnered with Kinross and to have drilling underway at PWC. Technical meetings have identified exciting targets, based on geological and geophysical data interpretation, in areas that have never been drill tested. Having a partner with a proven track record of gold production from two mines in Nevada (Round Mountain and Bald Mountain) is extremely valuable from a technical and operational standpoint. Our PWC project is within the Cortez District that has a significant history of gold production and current reserves.
see & read more on
https://www.newsfilecorp.com/release/216010/