Rockridge Amends Knife Lake Option Agreement

VANCOUVER, British Columbia, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0) (“Rockridge” or the “Company”) announces that it has amended the option agreement dated October 31, 2018 on the Knife Lake Project (the “Property”) whereas the due date on the second anniversary exploration expenditures on the Property has been extended an additional six months from January 2, 2021 to July 2, 2021. 

In consideration of the extension, the Company has agreed to issue 300,000 common shares to the vendor.  The amendment remains subject to the approval of the TSX Venture Exchange.  The shares will be subject to a hold period of four months and one day from issuance.

Knife Lake VMS Project Map:
http://www.rockridgeresourcesltd.com/_resources/projects/Knife_Lake_Re ...

The Company's Knife Lake Project is located in Saskatchewan, which is ranked as the #3 mining jurisdiction in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. There is strong discovery potential in and around the deposit area as well as at regional targets on the 85,196-hectare property.

Highlights:

• 2019 diamond drilling program plus historical drill core provided data for completion of the first NI 43-101 resource estimate for the Knife Lake deposit (see news release dated August 14, 2019).
• Knife Lake is a near surface VMS deposit starting a few metres below surface and the deposit remains open at depth and along strike for potential resource expansion.
• Indicated resources of 3.8 million tonnes at 1.02% CuEq (0.4% CuEq cut-off) or 3.8 MT at 0.83% Cu, 3.7 gpt Ag, 0.097 gpt Au, 82 ppm Co, 1740.7 ppm Zn Inferred resources of 7.9 million tonnes at 0.67% CuEq (0.4% CuEq cut-off) or 7.9 MT at 0.53% Cu, 2.4 gpt Ag, 0.084 gpt Au, 53.1 ppm Co, 1454.9 ppm Zn
• The deposit is a remobilized portion of a presumably larger “primary” VMS deposit; most of the historical work has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit.

Knife Lake Project Geology and History: