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Riley Gold Appoints Ted Wilton to Technical Advisory Committee

Wed 31st March, 2021 10:30am
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VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) -- Riley Gold
Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“Riley Gold” or the “Company”) is
pleased to announce the formation of a technical advisory committee (the
"Technical Advisory Committee” or “TAC”) to provide objective advice and
to consult with the Company on their respective areas of technical experience
relative to its Nevada-based exploration projects. In conjunction with the
formation of the Technical Advisory Committee, the Company is pleased to
announce that it has appointed Mr. Dean T. (“Ted”) Wilton as its first
member.

Todd Hilditch, CEO, commented, "The success of the Company is directly tied to
the quality of the people we are able to attract. I have known, and respected,
Ted for many years and am extremely pleased to welcome him as the inaugural
member of the TAC. The opportunity to draw on Ted's wealth of experience in
the mineral exploration field will be invaluable, particularly his experience
with reduced intrusion-related gold systems (“RIRG”) similar to Riley
Gold’s Tokop Project. Mr. Wilton has direct practical experience in this
style of mineralization and deposit in the Tintina Gold Belt (Alaska) having
worked with Kinross Gold at the Ft. Knox Mine as Chief Geologist and with
Victoria Gold at the Eagle/Dublin Gulch Deposit (now mine) as Vice-President
Exploration.”

Mr. Wilton is a senior-level geologist with an extensive range of technical
and managerial experience from "greenfields" to advanced-stage mineral
exploration, development, and production-related geological programs,
primarily for gold and uranium. He is a graduate of the New Mexico Institute
of Mining & Technology with a BGS degree in Geology and Mineral Engineering
and is a Certified Professional Geologist with the AIPG. In addition to his
extensive experience working in the United States, Mr. Wilton has
wide-ranging geographic experience including Australia, New Zealand, Russian
Far East, Southwest Pacific region, and Latin America. Mr. Wilton has managed
exploration programs that discovered eight ore deposits containing more than
ten million ounces of gold, in the Jerritt Canyon district of Nevada, Sulphur
District, Nevada and in the Eastern Goldfields region of Western Australia.

Tokop Project

Tokop potentially hosts a RIRG system, similar to large mines in the Tintina
Gold Belt of central Alaska and contiguous parts of the Yukon.  The best
known and most economically important of these include the Fort Knox and Pogo
gold mines in Alaska and the Eagle Mine of the Dublin Gulch Properties in the
Yukon. At Tokop, similarly to those mines, sheeted quartz veins in a
multi-phase, reduced, calc-alkaline granitoid intrusive, coupled with
widespread hydrothermal alteration, may host gold mineralization of
significant potential. Shear-hosted veins have been noted to extend for nearly
two kilometers along strike at Tokop. To date, grades within the vein systems
sampled ran as high as 34.4 grams per tonne (“gpt”) gold and 36.0 gpt
silver (historical sampling from previous owners). Limited assay returns of
newer sampling (9 out of 120 samples submitted) have returned values greater
than 16.0 gpt gold and 70.8 gpt silver. The remaining results of the sampling
program will be released upon receipt of all assay data, which is expected in
the first week of April, 2021.

About Riley Gold Corp.

Riley Gold is a mining exploration and development company focused in Nevada,
USA. The Company’s primary focus is on its two cornerstone assets: the Tokop
Gold Project located within the Walker Lane Trend and the Pipeline
West/Clipper Project located in the Battle Mountain Eureka Trend. Riley
Gold’s founders and leadership team have a proven track record of maximizing
shareholder value during each phase of the mining life cycle: exploration,
development, and production.

Qualified Person

This news release has been reviewed and approved by Charles Sulfrian, CPG.,
Consulting Geologist, of Riley Gold and a ‘qualified person’, as defined
by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
The Qualified Person has not completed sufficient work to verify the historic
information on Tokop, particularly in regards to the historical drill and chip
sample results. However, the Qualified Persons believe that drilling and
analytical results were completed to industry standard practices. The
information provides an indication of the exploration potential of Tokop but
may not be representative of expected results.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Todd Hilditch

Chief Executive Officer

Tel: (604) 443-3831

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.

Cautionary statement regarding forward–looking information

Certain disclosures in this release constitute "forward-looking information"
within the meaning of Canadian securities legislation (such statements being
referred to as "forward-looking statements"). Forward-looking statements are
statements that are not historical facts and are generally, but not always,
identified by words such as the following: expects, plans, anticipates,
believes, intends, estimates, projects, assumes, potential and similar
expressions. Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking statements, including statements regarding the exploration
program at Tokop, including results of drilling, and future exploration plans
at Tokop.  Factors that could cause actual results to differ materially from
these forward-looking statements include, but are not limited to, variations
in the nature, quality and quantity of any mineral deposits that may be
located, the Company's inability to obtain any necessary permits, consents or
authorizations required for its planned activities, and the Company's
inability to raise the necessary capital or to be fully able to implement its
business strategies. The reader is referred to the Company's public disclosure
record which is available on SEDAR (www.sedar.com).  Although the Company
believes that the assumptions and factors used in preparing the
forward-looking statements are reasonable, undue reliance should not be placed
on these statements, which only apply as of the date of this news release, and
no assurance can be given that such events will occur in the disclosed time
frames or at all.  Except as required by securities laws and the policies of
the TSX Venture Exchange, the Company disclaims any intention or obligation to
update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.

 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/81e3c9bf-815e-4ca0-99ad-02f41af13372)



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