Pre-Discovery Explorer Launches $11M Nevada Drill Program

• Ridgeline Minerals operates a Nevada-focused hybrid exploration model with five projects being drilled in 2025, featuring US$11 million  in total ground expenditures - approximately 48% of their current market cap
• The company has partnered with major operators including Nevada Gold Mines (Barrick-Newmont JV) for $40 million in gold exploration and South32 for $20 million in CRD (Carbonate Replacement Deposit) exploration
• Ridgeline maintains carried interests to commercial production (25% for gold projects, specific terms for Selena CRD project) meaning no dilution for shareholders through development
• The company is targeting multiple deposit types: high-grade gold near existing infrastructure, deep CRD silver-lead-zinc deposits, and porphyry copper systems
• Management expects continuous drilling activity throughout 2025 with catalyst-driven news flow from May through early 2026 across all projects

Ridgeline Minerals, led by President and CEO Chad Peters, represents a compelling hybrid exploration company operating in Nevada's prolific mining districts. With five active projects and $11 million USD in committed drilling expenditures for 2025, the company has positioned itself at the forefront of Nevada exploration while maintaining minimal shareholder dilution through strategic partnerships with major mining companies.

The Hybrid Exploration Model

The cornerstone of Ridgeline's strategy is its hybrid exploration approach, which combines self-funded exploration with major partnerships. As Peters explains: 

"What that allows us to be is incredibly flexible based on market sentiment. In a bear market like we've been in... it was tough to raise money, so we lean into our deals with our partners and we saw anywhere from $5 to $10 million being spent every single year across multiple projects, all 100% funded by our partners."

This model has proven particularly valuable during the commodity downturn from 2021 through late 2024, allowing Ridgeline to maintain exploration momentum while preserving capital and minimizing dilution. With gold reaching all-time highs, the company is now leveraging its raised $4.5 million to pursue its own discovery opportunities.

“I look at Kenorland Minerals as a great example of a company that started with a very similar business model to us, made a big discovery... they're over $100 million market cap right now and climbing.”

Strategic Partnerships & Project Portfolio

Nevada Gold Mines Partnership

Ridgeline has secured two agreements with Nevada Gold Mines, the joint venture between Barrick and Newmont, totaling $40 million in committed exploration spending. These projects include:

• Swift Project: A $30 million deal where Nevada Gold Mines will spend $20 million through 2026, with $15 million already invested. The project sits 4 kilometers from a 23-million-ounce gold mine with existing drilling results of up to 1.5 meters at 10 grams per ton gold.
• Black Ridge Project: A $10 million agreement positioned 4 kilometers from the Leeville mine (10+ million ounces at ~9 g/t) and 2.5 kilometers from the 40-million-ounce Goldstrike deposit.

South32 Partnership at Selena

The Selena project represents a $20 million partnership with South32, targeting Carbonate Replacement Deposits similar to their $2 billion acquisition of Arizona Mining's Taylor deposit. Recent geophysical surveys have identified a kilometer-scale conductive anomaly identical to those at Taylor. As Peters notes:

"We're going to be drilling a $3.5 million US program being run by Ridgeline this year. So we'll make 10% management fee on every dollar spent."

Company-Operated Projects

Ridgeline is advancing two 100%-owned projects in 2025:

• Big Blue: A historic copper mine currently being drilled, targeting porphyry copper mineralization beneath previous workings that produced 98,000 pounds of copper at 6% average grade.
• Atlas: An oxide gold project with a 3-kilometer-long gold trend showing surface values up to 8 g/t, analogous to Gold Standard Ventures' North Dark Star discovery.

Technical Approach & De-Risking

Ridgeline's exploration methodology emphasizes thorough technical work before significant drilling campaigns. At Selena, the company completed 10,000 meters of "framework drilling" to understand geological controls before bringing in South32. The upcoming deep drilling program will target depths of 1,200-1,500 meters based on existing geophysical data. Peters highlighted the technical advantage: 

"We've already drilled up to 6 meters of 1,100 g silver equivalent in our original discovery... where we're drilling this year we're hoping to hit high-grade silver lead and zinc plus or minus gold, copper, tungsten."

Interview with President & CEO, Chad Peters

Infrastructure & Permitting Advantages

A key competitive advantage for Ridgeline's projects is their proximity to existing infrastructure and favorable permitting conditions. The Swift and Black Ridge projects are adjacent to operating mines with established processing facilities. Peters emphasizes: 

"We're in their backyard... What better place to put your exploration dollars than into making new discoveries right in your backyard near existing infrastructure?"

The Selena project holds an advanced exploration permit obtained in July 2024, sufficient for advancement through pre-feasibility studies. The company also holds water rights, critical for future development.

Financial Structure & Valuation Potential

Ridgeline's current market capitalization of approximately C$30 million positions it in what Peters describes as the "pre-discovery sweet spot." He references Kirkland Lake Gold (acquired by Agnico Eagle) as a comparable company that started with a similar hybrid model: 

The carried interest structure provides significant upside potential without dilution. As Peters explains: 

"These projects, mines can be hundreds of millions, if not billions of dollars, to put into production. Ridgeline would not suffer any meaningful dilution to see that project taken all the way from discovery to first gold pour."

2025 Catalyst Timeline

The company has established a robust catalyst schedule for 2025:

• May: Big Blue copper results
• June: Selena deep drilling commencement
• After May (not confirmed): Atlas oxide gold results
• September-December: Continuous results from partner-funded programs

The Investment Thesis for Ridgeline Minerals

• Exceptional Leverage to Discovery: With $11 million USD in 2025 drilling expenditures (48% of market cap), investors gain unprecedented exploration leverage with minimal dilution
• Major Partner Validation: Nevada Gold Mines (Barrick-Newmont) and South32 commitments totaling $60 million validate project quality and technical merit
• Multiple Discovery Opportunities: Five active projects targeting gold, silver-lead-zinc, and copper across Nevada's premier mining districts
• Protected Upside Through Carried Interests: 25% carried interest to production on gold projects eliminates dilution through development phase
• Near-Term Catalysts: Continuous drilling news flow from May 2025 through early 2026 across all projects
• Infrastructure Advantage: Projects adjacent to existing mines and mills significantly reduce development costs and timelines
• Nevada Jurisdiction: Tier-1 mining jurisdiction with established permitting processes and mining-friendly regulations
• Experienced Management: Team with proven track record in Nevada exploration, including members involved in major discoveries
• Pre-Discovery Valuation: Current C$30 million market cap positions company for potential multi-bagger rerating on discovery success
• Management Fee Income: 10% management fees on partner-funded programs provide operational funding without equity dilution

Macro Thematic Analysis

The precious metals sector is experiencing a significant renaissance as gold reaches all-time highs amid global economic uncertainty, currency debasement concerns, and geopolitical tensions. Nevada remains the premier gold mining jurisdiction globally, with major producers increasingly focused on replacing depleting reserves through exploration partnerships rather than expensive acquisitions.

Ridgeline's positioning capitalizes on this trend perfectly, as evidenced by Peters' observation: 

"The majors are just making tons of money right now... their margins are excellent. And I think a lot of them are looking at it and they're seeing the same writing on the wall where they realize they're going to be overpaying for assets... two years from now."

This creates an ideal environment for exploration companies with quality projects and established partnerships. The company's hybrid model provides exposure to both the exploration upside and the structural shift in how major mining companies approach resource replacement.