Strategic Gold Asset Sale Sends Junior Miner Sharply Higher

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Tuesday, August 4, 2026

On a risk-on trading day, markets are surging on reports that an agreement to reopen the Strait of Hormuz could be announced imminently. With equities and most commodities trading sharply higher, we set out to identify an overlooked opportunity amid the broad rally. We believe we've found one standout candidate, a company that has just completed a significant transaction in the gold exploration sector and could be poised to attract increased investor attention.

Ridgeline Minerals Corp. (TSX-Venture: RDG) (OTCQB: RDGMF) has entered into an agreement to sell its Swift, Black Ridge, Bell Creek, and Atlas gold exploration projects to Nevada Gold Mines, a joint venture between Barrick Mining (NYSE: B) (TSX: ABX) and Newmont (NYSE: NEM), in an all-cash transaction valued at approximately C$32.7 million (US$23.15 million). Effective August 3, 2026, Nevada Gold Mines acquired a 100% interest in the projects, marking a significant milestone for Ridgeline as it monetizes its exploration success while substantially strengthening its balance sheet.

Following the sale, Ridgeline retains several key assets, including its interest in the Selena project under an earn-in agreement with South32, highlighted by the 2025 Chinchilla Sulfide CRD discovery. The company also retains approximately C$32.7 million in cash, C$3.0 million in Spartan Metals Corp. (TSX-Venture: W) (OTCQB: SPRMF) shares, the Big Blue copper-CRD project, the Coyote gold project adjacent to Black Ridge, and a 1% net smelter royalty on Spartan Metals' Eagle tungsten project, providing a strong foundation for future exploration and growth.

Chad Peters, Ridgeline's President, CEO & Director commented, "I'm very proud to announce today's transaction with our longtime partners at Nevada Gold Mines, which crystallizes significant value for Ridgeline shareholders. This deal further validates our hybrid prospect generator business model, representing a 26% premium to our 20-day VWAP and a more than 350% return on invested capital across the four transacted Projects."

Shares of RDG are currently up 32.35% at $0.225, while U.S. listed shares (RDGMF) are up 21.32% at $0.1605 in late-morning trading.

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