Pipeline West/Clipper Gold Project Exploration Update

VANCOUVER, British Columbia, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold” or the “Company”) is pleased to announce an exploration update at its Pipeline West/Clipper Gold Project (“PWC”) located in Lander County, Nevada. The project area consists of approximately 24.7 square kilometres (“sqkm”) in the heart of the Cortez section of the Battle Mountain – Eureka Trend and adjoins Nevada Gold Mines LLC which is a joint venture between Barrick Gold Corp. and Newmont Corporation.

The PWC 2022 fall exploration program included: a 3.8 sqkm soil survey (previously announced September 29, 2022) and extensive mapping conducted by Dr. Mike Ressel, P.Geo, covering up to 50% of the 24.7 sqkm PWC land package. In addition, Riley Gold continues to review and digitize historical work completed by previous operators and compile all current and historical work in order to define drill targets for expected drilling in 2023.

“We are pleased to have been advancing our exploration work this Fall/Winter at PWC and are excited to continue those initiatives into 2023. Having recently received an endorsement and support for our Nevada work, by way of an investment (News Released dated November 21, 2022), Riley Gold will utilize the Fall/Winter program results to develop drill targets for testing its PWC property within the Cortez District,” commented Todd Hilditch, CEO of Riley Gold. 

Soil Survey Completed:

A total of 1,046 soil samples and 104 rock chips were submitted to American Assay Laboratories of Sparks, Nevada for gold and multi-element chemical analysis with results pending. The soil survey program was conducted by North American Exploration, of Layton, Utah and was designed to augment historical soil and lithic sampling surveys completed by previous operators. The previous programs contained open-ended gold in soil anomalies within the PWC prospective target area depicted by the red ellipse (Figure 1).

Figure 1 - New Soil Grid Survey Area & Target Area
https://www.globenewswire.com/NewsRoom/AttachmentNg/ec3ca5ec-3572-4dda ...

Extensive Mapping Completed:

Geologic and alteration mapping at PWC was recently completed by Mike Ressel, PhD. The mapping covered approximately 12.2 sqkm (Figure 2) primarily within the main portion of PWC. Dr. Ressel has an extensive background (as described below) in the Cortez District and has published many academic papers regarding Carlin-type gold deposits in Nevada.