Proactive investors

Projects:

Cliffs IOCG Exploration Alliance
In June 2010 Riverside signed an exploration alliance with Cliffs Natural Resources Exploration Inc. (“Cliffs”) that is tasked with identifying and acquiring Iron Oxide Copper Gold (“IOCG”) projects in north west Baja California state and western Sinaloa state to Oaxaca state, Mexico.  The alliance focuses on identifying major target areas using Riverside’s proprietary Mexico specific databases (with over $8,000,000 invested in development) with extensive field follow up to delineate a minimum of four IOCG deposits within an area of 1,500,000 km². The purpose of the Alliance is to create an affiliation that will benefit from the capital and operating experience of Cliffs, and Riverside’s substantial Mexican experience and exploration expertise. Cliffs will contribute US$750,000 to the Alliance on an annual basis, for a minimum of $1,500,000 to fund the Exploration program over a two year period, which can be extended upon mutual agreement. Once a project has been identified, Cliffs can choose to earn a 70% interest in the project by investing $4,000,000 into exploration of the project over four years.

The agreement is not a private placement, but rather a direct investment into the exploration programs for the identification of IOCG properties in Mexico. Projects identified and acquired through the Alliance will be progressed as joint ventures between Cliffs and Riverside. (Read More)

Kinross Exploration Alliance
Riverside signed a Precious Metals Exploration Alliance focused on the Mesa Central Region of Mexico. The general terms of the Alliance recognize Riverside's historic work in Mexico, as well as its proprietary database and on-going generative field programs. Under the terms of the Alliance, Kinross will invest US$800,000 and Riverside will invest US$300,000 to fund exploration in the Mesa Central Region over the next two years.

Riverside and Kinross have entered into this Alliance with the objective of identifying potential high quality precious metal deposits in the Mesa Central Region of Mexico. The agreement is not a private placement, but rather a direct investment into the identification and exploration programs for mineral properties in Mexico. As per the terms of the agreement, Kinross will contribute US$400,000 per year and Riverside will contribute US $150,000 per year, each over a two year period. The agreement also states that the Alliance can be extended upon mutual agreement. Projects identified and acquired through the Alliance will be progressed as joint ventures between Kinross and Riverside with varying initial ownership percentages depending on the nature of project. (Read More)

Sugarloaf Peak Gold Project

Riverside Resources Inc. has an option agreement to acquire a 100% interest in the Sugarloaf Peak Gold Project located west of Quartzsite, Arizona, USA from a private Arizona based company (April 17, 2008). The property covers over 12 km² and has been the object of intermittent drilling and small scale mining during the 1950's through 1990's resulting in a historic, non 43-101 compliant, estimated resource of more than 1.2 million ounces of 0.6 g/t gold average grade with higher grade zones to be delineated. This is an historic resource and the company has not yet completed sufficient work to confirm it and it therefore cannot be relied upon. In 2009 Riverside completed a drill program on the property that successfully substantiated a portion of the historic data, while testing the geologic model at depth. Drilling targeted the southern portion of the 4 km² surface gold anomaly and was not focused on duplicating previous work by twinning historic drill holes. Riverside completed five angled diamond drill holes on the property for a total of 1,125 meters to a maximum true depth of over 200 meters in any one hole. The drill program consistently intercepted gold mineralization comparable to operating mines in the region, which include the El Chanate Mine (operated by Capital Gold), the Herradura Mine (operated by Newmont), and the Mesquite Mine (operated by New Gold). (Read More)

Tajitos Gold Property

The greater than 229 km2 Tajitos Gold Project in Sonora, Mexico was acquired by combining the Company's Mexico Database, local geologic knowledge, historic production data, and extensive personal networks. Previous mining produced an estimated 50,000 ounces of high grade gold from veins by producing more than 200,000 tons of ore, during at least three operational campaigns over the past 100 years. Recent drilling by Penmont Mining Company intersected gold quartz veins and found mineralization extending beyond the veins into the wall rock zones on ground now optioned by Riverside from a private claim owner. Penmont's RC drilling did not give any core and thus further structural interpretations will be completed by Riverside as the Company progresses this newly acquired district. (Read More)

Closeup Tajitos rock with gold

Penoles Property

The Penoles Property is a 350 square km concession located in the Penoles Mining District, Durango, Mexico. The Penoles Mining District is where the mining company Compania Minera Industrias Penoles was founded 120 years ago and is located near the recent discoveries at Penasquito (Goldcorp) and  Juanicipio (MAG Silver) which are in the same Durango-Zacatecas metalliferous region. The concession has a diversity of deposit types, including the Jesús María Pb-Zn-Cu vein system, San Rafael Ag vein system, El Tubo Au vein System and the El Capitan disseminated epithermal gold system. Riverside completed core drilling at the El Capitan area (News Release October 20, 2008) and since that time has completed mapping, sampling, and targeting on three vein targets that extend over eight kilometers of strike length and have numerous historic mines, workings, and open cuts indicating there could be a number of potential drill targets on Riverside's property. (Read More)