Ridgeline Minerals Corp. announced high- grade grade silver ("Ag") - lead ("Pb") - zinc ("Zn") - gold ("Au") intercepts with localized tungsten ("W") mineralization from the Chinchilla Zone at the Selena ("Selena") project, Nevada.
Highlight intercepts from two diamond core holes at the Chinchilla Zone include high-grade zones of 6.1 meters ("m") grading 480 grams per tonne ("g/t") Ag, 12.0% Pb, and 6.4% Zn, 0.1 g/t Au in SE22-045 and 0.5m grading 1,793 g/t Ag and 2.2% W in SE22-039. Both intercepts are hosted within 30-50 m wide zones of strongly oxidized carbonate replacement ("CRD") style alteration and mineralization. A total of 7 core holes were completed during the fall 2022 drill program with assays pending on the remaining 5 holes, which are located at the Juniper and Broken Egg targets. SE22-045: 32.5 m grading 153.42 g/t Ag, 2.51% Pb, 1.60% Zn, 0.09 g/t Au, starting at 235 m true
vertical depth ("TVD"); Including 6.1 m grading 480.52 g/t Ag, 12.0% Pb, and 6.39% Zn, 0.14 g/t Au in SE22-045; Including 0.7 m grading 1,347.73 g/t Ag, 28.89% Pb and 12.02% Zn, 0.11 g/t Au. SE22-039: 15.9 m grading 83.5 g/t Ag, 0.10% Pb, 0.14% Zn, 0.02 g/t Au, (No significant values of W) in SE22-039 starting at 230 m TVD; Including 0.5 m grading 1,793 g/t Ag, 2.2% W, 0.08% Pb and 0.15% Zn, 0.09 g/t Au. Drillhole SE22-045- SE22-045 returned the single best Ag-Au-Pb-Zn CRD drill intercept in the project's history; And if calculated on a silver equivalent ("AgEq") basis, the highlight intercept returned 6.1 m grading 1,137.20 g/t AgEq (metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1800 Au, no recovery factory applied). The core hole twinned and confirmed CRD mineralization originally intercepted in reverse circulation ("RC") drill hole SE21-025. Geometry of the zone and its proximity to the "feeder" fault intersected in SE22-039 suggests holes SE22-045 and SE21-025 intersected a high-grade "chimney" horizon that remains open along strike and dip. High-grade silver-tungsten mineralization in SE22-039 is hosted within a quartz-feldspar porphyry ("QFP") infilled fault zone and is the first instance of tungsten at Selena with additional infill drilling required to define the potential of this new mineralized zone. Porphyry hosted tungsten further supports the interpretation that Freeport-McMoRan's adjacent Butte Valley porphyry system is the source to CRD mineralization in the district. Stringer to semi-massive sulfide mineralization from 231.7 - 235.1 m is encouraging and suggests infill drilling may define additional zones of sulfide mineralization. The permitting of a Bureau of Land Management administered Plan of Operations ("PoO") is ongoing with an anticipated approval in Q2, 2023. The PoO will allow for two hundred (200) acres of proposed disturbance across the Chinchilla, Juniper and CRD targets and enable the Company to begin delineating a maiden resource at the Chinchilla zone as well as conduct exploration drilling from more
favourable drill pad locations at the Juniper and CRD targets. Ridgeline's technical team is in the process of remodeling the Chinchilla deposit to better reflect the "chimney" and "manto" style geometries observed in drilling to-date. Exploration at the Broken Egg and Revival targets are operated under separate five (5) acre Notice of Intent permits with minor revisions required in 2023 to continue advancing each target. Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of Ely, NV. The project shares a property boundary with the Butte Valley project, a $33 Million earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline's shallow- oxide 2020 Ag-Au-Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the
potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property.