Riverside Resources and Questcorp Prepare Phase 2B Exploration Drill Program at La Union Project, Sonora

Riverside is set to begin fully funded RC drilling at La Union in November 2026.

What the company is saying

Riverside Resources Inc. is announcing the imminent start of its Phase 2B drilling program at the La Union Project in Sonora, emphasizing that the program is fully funded and operational preparations are underway. The company positions itself as operator, with Questcorp Mining Inc. funding exploration under an option agreement, highlighting a collaborative and de-risked approach. The narrative stresses a shift to reverse circulation (RC) drilling for improved speed and cost efficiency, following delays and limited recovery in prior core drilling due to faulted ground. The release focuses on two targets: Luis Hill, where a 1 km IP anomaly and sediment-hosted gold mineralization remain open, and Union Mine, where previous chip-channel sampling returned high grades of 20.2 g/t Au, 226 g/t Ag, and 2.7% Zn over 30 metres. Management, led by President and CEO John-Mark Staude, frames the program as a test of both technical targets and the RC drilling method itself, with the potential for larger future campaigns if successful. The tone is confident but measured, with technical data reviewed and approved by Julian Manco, P.Geo., as the qualified person. The announcement avoids overstatement, instead providing specific operational plans and referencing concrete past results.

What the data suggests

The company discloses that Phase 2B will comprise approximately 600 metres of RC drilling in two 300-metre holes, targeting Luis Hill and Union Mine. At Luis Hill, the planned hole will test a 1 km-long IP chargeability anomaly associated with sediment-hosted gold mineralization identified previously, with the drill hole designed to reach 350 metres depth. At Union Mine, the planned hole will follow up on a structure where chip-channel sampling yielded 20.2 g/t gold, 226 g/t silver, and 2.7% zinc over a continuous 30-metre interval. Previous Phase 2A drilling completed seven diamond drill holes totaling 530.1 metres, but faulting limited progress and recovery, with one hole (UND26-018) terminated at 70 metres before reaching its 150-metre target. The switch to RC drilling is intended to overcome these operational challenges and will be evaluated for future use. The program is fully funded by Questcorp under the option agreement, and Riverside is managing all fieldwork. The technical disclosure is specific, with named targets, hole IDs, grades, and operational rationale, but no resource estimates, economic studies, or financial statements are provided, as is typical for this exploration stage.

Analysis

The announcement is proportionate in tone, focusing on the operational and technical details of the upcoming Phase 2B drilling at the La Union Project. The majority of claims are forward-looking, such as the planned RC drilling, targeted anomalies, and expected improvements in drilling efficiency, but these are standard for an exploration-stage update and are supported by specific technical rationale and prior results. The program is described as 'fully funded' under an option agreement, and no large new capital outlay or speculative financial benefit is claimed. Preparatory work is already underway, and the next phase is expected to begin imminently (November 2026), placing the execution distance in the near term. There is no exaggerated language or overstatement of results; the technical disclosures are specific and reviewed by a qualified person. The gap between narrative and evidence is minimal, as the release does not promise outcomes beyond the scope of the planned drilling and references concrete prior results.

Risk flags

• ●Operational risk is present due to prior drilling challenges: Phase 2A encountered significant faulting that slowed core drilling and limited recovery, with one hole terminated early. If similar ground conditions persist, RC drilling may still face technical setbacks.
• ●Exploration risk remains high: While prior chip-channel sampling at Union Mine returned strong grades (20.2 g/t Au, 226 g/t Ag, 2.7% Zn over 30 m), these are surface or near-surface results and may not be replicated at depth or along strike in the planned holes.
• ●Methodological risk is acknowledged: The switch to RC drilling is intended to improve speed and cost, but its effectiveness in this specific geological setting is unproven and will be assessed during Phase 2B. If RC drilling fails to deliver the expected benefits, future programs may require further adaptation.
• ●Funding risk is currently mitigated by Questcorp's support under the option agreement, but continued funding for larger or subsequent programs is not guaranteed and will depend on Phase 2B outcomes.
• ●Disclosure risk is moderate: While technical detail is strong, the absence of resource estimates or economic studies means investors lack visibility on the project's potential scale or value beyond early-stage exploration results.

Bottom line

Riverside Resources is advancing to a fully funded, near-term RC drilling campaign at La Union, targeting both a large IP anomaly at Luis Hill and high-grade extensions at Union Mine. The operational plan is detailed and addresses prior setbacks by shifting to RC drilling, but the effectiveness of this method in local faulted ground remains to be proven. Strong chip-channel sampling results (20.2 g/t Au, 226 g/t Ag, 2.7% Zn over 30 m) provide encouragement, but these are not yet supported by subsurface drilling at scale. The program's success will hinge on whether RC drilling can access and confirm mineralization at depth and along strike. Investors should watch for actual drill results and any move toward a resource estimate as the next material catalysts. The most important takeaway is that Riverside is entering a critical technical test phase with funding in place, but project value remains unproven until drilling results are delivered.

Announcement summary

(TSXV:RRI) (OTCQB:RVSDF) (FSE:5YY0) Riverside Resources Inc. announced that its next phase of drilling at the La Union Project, Sonora is fully funded and planned to begin soon. Riverside is the operator of the project, with Questcorp Mining Inc. as the option partner under an agreement referenced in a May 6, 2025 news release. The Phase 2B program will use reverse circulation (RC) drilling, which is expected to advance holes faster and collect larger sample volumes compared to core drilling. Preparatory work, including road construction and drill pad setup, is underway following the end of the rainy season. Phase 2B will focus on two main targets: Luis Hill and the Union Mine. Approximately 600 metres of RC drilling are planned, split into two holes of about 300 metres each. At Luis Hill, one hole will test an Induced Polarization (IP) chargeability anomaly extending over 1 km along strike, coinciding with sediment-hosted gold mineralization identified in Phase 1 and remaining open along strike and at depth. At the Union Mine, one hole will follow up on a projected extension of the structure where previous chip-channel sampling yielded 20.2 g/t Au, 226 g/t Ag, and 2.7% Zn over a continuous 30-metre interval. The Phase 2B program is expected to begin in November 2026. Seven diamond drill holes totaling 530.1 metres were completed during Phase 2A, but significant faulting slowed progress and limited recovery, with hole UND26-018 at Luis Hill terminated at 70 metres before reaching its planned 150-metre depth. RC drilling is intended to increase penetration rates and improve access to priority targets, while diamond core drilling will be used where detailed geological information is required. The Luis Hill target hosts sediment-hosted gold mineralization in the Clemente Formation, with the IP survey in 2026 delineating a chargeability anomaly over 1 km along strike. The planned Phase 2B hole at Luis Hill will be a near-vertical, 350-metre-deep drill hole. At the Union Mine, Phase 2A hole UND26-013 intersected the continuity of the historic Sproul manto mine, with anomalous Pb and Zn values indicating proximity to the replacement body. The Phase 2B hole at Union Mine is planned to test the continuity of the structure at an 80-metre step-out along strike, supported by ground magnetic geophysics. Exploration is funded by Questcorp under the option agreement, and Riverside manages drilling as operator. The scientific and technical data in the release were reviewed and approved by Julian Manco, P.Geo., a non-independent qualified person to Riverside Resources Inc.

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