Ridgeline Minerals - Advancing High-Potential Projects in Nevada with Partnerships and Carried Interest Deals

• Ridgeline Minerals, led by Chad Peters, focuses on precious and base metal exploration in Nevada. They have partnerships with Nevada Gold Mines and have made significant discoveries, like the Selena project.
• The company  partnered with Nevada Gold Mines in two deals totalling $40 million for the exploration of their gold projects.
• The Selena project is Ridgeline's flagship project, hinting at a significant carbonate replacement deposit (CRD). CRDs, often found alongside copper deposits, have the potential for high-value discoveries.
• If Nevada Gold Mines meet certain milestones, they'll earn a 70% stake in some of Ridgeline's projects. Regardless of the outcome, Ridgeline retains a 25% interest, fully carried up to the first gold pour. Post-production, Ridgeline will receive profits from their 25% stake for the mine's lifespan.
• The company's strategy involves discovering and advancing projects to a point where they can be monetized or further developed by larger partners. This dual short-term and long-term value generation strategy is backed by significant stakeholders, including EMX Royalty and well-known names in the U.S. retail market.

About Ridgeline Minerals

Ridgeline Minerals is an exploration company focused on discovering new gold and silver deposits in the American West. Founded in 2018, Ridgeline has quickly established a track record of exploration success in Nevada.

The company pursues a hybrid explorer model, acquiring prospective land packages in underexplored districts of stable mining jurisdictions. Ridgeline's technical team takes a systematic approach to exploration, using cost-effective field techniques to advance projects.

In 2021, Ridgeline signed a US$30 million earn-in agreement with Nevada Gold Mines at its Swift project in Nevada. Partnerships like this reduce exploration risk while allowing Ridgeline to retain exposure to potential discoveries.

With a proven leadership team, strategic land holdings in productive districts, and technical expertise, Ridgeline is positioned to continue making new gold and silver discoveries in Nevada and Idaho. The company remains focused on acquiring and exploring large, highly prospective properties in underexplored regions of the Great Basin.

Interview with President & Chief Executive Officer, Chad Peters

Flagship Selena Project Offers Significant CRD Discovery Potential

The company's flagship project is the 100% owned 39 km2 Selena property in White Pine County, Nevada. Selena hosts a large carbonate replacement deposit (CRD) system with the potential to yield a major discovery.

CRDs are a highly prospective deposit style associated with copper porphyries and clustered along the western U.S. and into Mexico. Notable examples include the Taylor deposit and the Lisbon Valley project. Selena is located within a regional CRD belt and early exploration results have been encouraging, with drill intercepts up to 6 meters at 1,200 g/t silver equivalent.

With approximately $7 million spent on exploration to date, Ridgeline has identified multiple drill targets across a 5km trend. The company plans to advance Selena while maintaining 100% ownership, with the goal of eventually attracting interest from a mid-tier or major base metal producer to develop the project.

Carried Interest Deals De-risk Expensive Gold Projects

While Selena offers exceptional discovery potential, advancing large exploration projects fully through the company's own capital can be challenging. To derisk capital needs on deeper gold projects, Ridgeline has partnered with Nevada Gold Mines (NGM), a joint venture between Barrick and Newmont.

NGM can earn a 70% interest in the Carlin-East and Swift projects by spending $10 million and $30 million respectively. However, Ridgeline will retain a 25% carried interest in each project all the way through to the first gold production, with no repayment of earned-in expenditures required. This avoids dilution risk and allows Ridgeline shareholders to benefit from major discoveries, even with reduced ownership.

Insider and Strategic Shareholders Validate Upside Potential

Ridgeline Minerals has attracted support from high-profile industry investors including Rick Rule, Paul Stephens and EMX Royalty. Management and insiders hold approximately 10% of shares, providing alignment with shareholder interests. In an uncertain market environment, Ridgeline offers leveraged exposure to making new discoveries through carried interests, while advancing a flagship asset with strong technical upside.

Prospect Generator Model Provides Deal Flow and Optionality

Going forward, Ridgeline Minerals aims to replicate the attractive carry deals negotiated on the gold projects for other base metal opportunities. This allows the company to maintain exposure to potentially world-class discoveries without being constrained by capital access. Ridgeline can focus spending on flagship projects while benefiting from partners de-risking early-stage assets.

The recent staking of the Big Blue project provides another underexplored property in Nevada with similarities to Selena's early results. Attracting a partner here could unlock significant value. The technical team remains focused on leveraging their Nevada experience to identify overlooked projects ripe for new exploration.

Ridgeline's prospect generator approach provides multiple avenues to build shareholder value both in the near-term and long-term. The current portfolio balances discovery potential through Selena with carried interests in gold discoveries made by well-funded partners. With CRD deposits gaining more attention and Nevada remaining highly prospective, Ridgeline appears well-positioned to capitalize on an improving environment for exploration investing.

The Investment Thesis

• The flagship Selena project offers significant upside potential if a major CRD discovery is made. CRD deposits can contain exceptionally high grades over small areas, providing an opportunity for a transformational discovery.
• Carried interest deals on the gold projects to provide zero-cost exposure to major discoveries by Nevada Gold Mines. Ridgeline avoids dilution while benefitting from partners' exploration spending.
• Insider ownership and support from renowned resource investors validate the technical strength and upside potential of the portfolio. institutional backing is a positive sign.
• Prospect generator model provides multiple shots on goal and news flow through partner-funded programs. Additional carried interest deals could further reduce capital risks.
• Focus on Nevada provides access to a top-tier mining jurisdiction with major existing infrastructure. Many historical districts remain underexplored using modern techniques.
• An experienced technical team with local expertise gives Ridgeline an edge in identifying overlooked exploration opportunities in Nevada's prolific mineral belts.

Ridgeline Minerals offers leveraged exposure to potential high-grade discoveries in a premier mining district, while partner interests reduce shareholder dilution. For investors bullish on a CRD exploration play in Nevada, Ridgeline warrants consideration.