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Riverside and Alliance Partner, Antofagasta, Acquire Option to Earn 80 Percent Interest In the Swift Katie Property, British

Riverside and Alliance Partner, Antofagasta, Acquire Option to Earn 80 Percent 
Interest In the Swift Katie Property, British Columbia,
Canada 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/31/13 -- Riverside
Resources Inc. ("Riverside" or the "Company") (TSX
VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99), is pleased to announce
that Riverside Resources (BC) Inc., a wholly owned subsidiary of
Riverside, has signed a Letter of Agreement with Valterra Resource
Corporation ("Valterra"), for the exclusive right and option to
acquire an undivided 80% interest in the Swift Katie Property (the
"Property"). This agreement will be undertaken by the Riverside
Exploration Alliance with a wholly owned subsidiary of Antofagasta
plc ("Antofagasta"). Swift Katie is an 80km2 advanced
copper-gold-silver porphyry property located seven kilometres
southwest of the town of Salmo, BC, in the Nelson Mining District.
The Property has more than 70 drill holes (approx. 20,000 metres),
completed between 1987 and 2008, into a system that currently
measures approximately 1,900 metres of strike length by 900 metres
width and 600 metres depth with several directions remaining open for
further exploration upside. (See Project Details below for more
information) 
In consideration for paying the $40,940 outstanding Advanced Mininum
Royalty ("AMR") payment owed to the original owner by Valterra,
Riverside (BC) and its alliance partner (the "Alliance") will be
granted a six (6) month due diligence period to further evaluate the
Property. Upon the completion of the due diligence period, if the
Alliance decides to proceed with the Option, it can acquire an 80%
interest in the Property by incurring the following exploration
expenditures as outlined in the table below: 


 
----------------------------------------------------------------------------
                                                                    Property
                                                                Expenditures
Year                                                            (Cumulative)
----------------------------------------------------------------------------
On or before the 1st anniversary of Due Diligence Expiry Date    $   350,000
----------------------------------------------------------------------------
On or before the 2nd anniversary of Due Diligence Expiry Date    $ 1,000,000
----------------------------------------------------------------------------
On or before the 3rd anniversary of Due Diligence Expiry Date    $ 2,500,000
----------------------------------------------------------------------------
On or before the 4th anniversary of Due Diligence Expiry Date    $ 5,000,000
----------------------------------------------------------------------------

 
Once property expenditures of at least $5,000,000 have been incurred,
the Option will be exercised in full with an undivided 80% interest
earned by the Alliance. 
President and CEO of Riverside Resources, John-Mark Staude,
commented: "We are excited by the exploration upside at the already
established Swift Katie porphyry copper project. This project adds
significantly to our growing copper porphyry portfolio in BC and we
look forward to getting to work and unlocking further value at Swift
Katie for years to come." 
Additional Agreement Details:  
In addition to incurring $5,000,000 in exploration expenditures over
four (4) years, the Alliance has agreed to assume the future AMR
payments to the original private ownership group that optioned the
Swift Katie property to Valterra. The AMR payments are to be made on
June 30, 2014, December 31, 2014 and annually on December 31 on each
year thereafter. The amount of each AMR payment is $50,000, adjusted
annually in accordance with the Canadian Consumer Price Index with a
base date of December 31, 2006. AMR payments are deductible from
future payments of net smelter returns.  
The original option agreement with the underlying party also provides
for a 3% Net Smelter Return (NSR) royalty. At any time, the Alliance
can purchase two-thirds (2%) of this NSR for $3,000,000. 
Riverside and Valterra confirm their mutual intention to conclude and
execute the Definitive Agreement on or before the date that is 45
days from the Due Diligence Expiry Date, provided however that if the
parties do not execute the Definitive Agreement by such date this
letter agreement will remain binding on the parties and will continue
to govern their relationship and operations on the Property. 
Joint Venture:  
Upon the exercise of the Option, Valterra and the Alliance shall be
deemed to have formed a joint venture in which the Valterra shall
hold an initial 20% interest and the Alliance shall hold an initial
80% interest (the "Joint Venture"). The formal agreement governing
the Joint Venture, shall provide that in the event that Valterra's
interest in the Joint Venture is reduced to less than 10%, Valterra
will be deemed to have conveyed its interest to the other party in
consideration of the right to receive a 2% NSR, which can be
purchased by the other party at any time prior to the commencement of
commercial production for $2,000,000.  
About the Swift Katie Property:   
The Property is underlain by the prolific Quesnel Terrane, and covers
over 80km2 within a geologically favourable and metallogenically
highly endowed area of British Columbia that historically has hosted
several important mining camps. Three mineral showings are located
within the property and for many years were explored separately in
claims with different ownership; the claims were amalgamated into a
single property for the first time under Valterra. There have been
numerous geological, geochemical and geophysical surveys completed on
the property with some of the most significant work funded by
subsidiaries of Noranda and Falconbridge in the 1980s-90s, and by
Valterra Resources in 2007-2008. These programs identified several
exploration targets, with the most advanced prospect being the Katie
deposit, an alkalic copper-gold porphyry deposit which has been
tested by 72 shallow drillholes to date and remains open in several
directions. Historic drilling at the Katie occurrence covers an
approximately 2km x 1km area with several untested soil, IP, magnetic
and resistivity anomalies in close proximity to known mineralization. 
The property covers an 11km by 3km trend - highlighted by the recent
DIGHEM EM-Magnetic airborne geophysical survey - that remains
virtually unexplored (outside of the Katie occurrence) for
copper-porphyry targets to date and represents significant
exploration upside and potential for new discoveries. The Property is
located in an infrastructure-rich area of southern BC (roads, rail,
power, and proximity to the Trail smelter), where a milder climate
allows for a long field season, extensive road networks allow for
low-cost exploration, and is situated in a favourable region of the
province that has a strong community of knowledgeable and experienced
people on which to draw.  
Qualified Person and QA/QC:  
The scientific and technical data contained in this news release
pertaining to the Swift Katie Project was reviewed by Paola Chadwick,
P.Geo - BC Exploration Manager, a non-independent qualified person to
Riverside Resources who is responsible for ensuring that the geologic
information provided in this news release is accurate and acts as a
"qualified person" under National Instrument 43-101 Standards of
Disclosure for Mineral Projects.  
About Riverside Resources Inc.:  
Riverside is a well-funded prospect generation team of focused,
proactive precious and base metal discoverers with the breadth of
knowledge to dig much deeper. The Company currently has more than
$5,000,000 in the treasury and approximately 37,000,000 shares
outstanding. The Company's model of growth through partnerships and
exploration uses the prospect generation business approach to own
resources, while partners share in de-risking projects on route to
discovery. Riverside has additional properties available for option
with more information available on the Company's website at
www.rivres.com. 
ON BEHALF OF RIVERSIDE RESOURCES INC. 
Dr. John-Mark Staude, President & CEO 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Riverside Resources Inc.
John-Mark Staude
President & CEO
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com 
Riverside Resources Inc.
Joness Lang
Manager, Corporate Development
(800) RIV-RES1
(778) 327-6675 (FAX)
jlang@rivres.com
www.rivres.com
 
 
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