Cecilia Gold-Silver Project

The Cecilia Project is a district scale gold and silver low sulfidation epithermal system centered on multiple mineralized rhyolitic flow-dome complexes. Mineralization is related to structures of N30W and N70E with high grades assayed at the intersection of these structures. One of the workings at the Cerro Magallanes dome returned high grades up to 133.7 g/t Au and 335 g/t Ag. In addition to the rhyolite domes the underlying sedimentary Cabullona group and Paleozoic limestone provide an environment for replacement style mineralization at depth. Riverside’s current analogues for Cecelia are Endeavor Silver’s Pitarrilla deposit and Fresnillo’s San Julian deposit, which contain 526 million oz Ag (Measured + Indicated 1) and over 230 million oz Ag respectively.

The Cecilia Project is located 40 km southwest of the Mexico-U.S.A. border town of Agua Prieta in Sonora, Mexico. The project is directly accessible by well-maintained dirt road from highway 17.

The Cecelia Project is currently under Option to Fortuna Silver Inc of Vancouver. The terms of the agreement are:

First Option: 5 years to earn 51% by spending US$3.75M in work and paying US$150,000 in cash payments to Riverside with required work of at least $500,000 in the first year for the Option and Riverside has the drill permits in hand.  Fortuna has paid Riverside the initial $25,000 on signing and pays $25,000 more on filing the agreement in Mexico.  Then pays Riverside $25,000 each year plus Riverside acts as operator for the program with a 10% management fee on top of the work spending commitments each year.

Second Option: Upon completion of First Option, Fortuna may elect to progress with a second option to earn to 80% by spending an additional $2.25M in work over 3 additional years.

Third Option: After completing Second Option, Fortuna may elect within 120 days to pay Riverside $5M cash and grant Riverside a 2% NSR where 1% NSR may be purchased before commercial production for $3M thereby Fortuna earning 100% interest in the project.

_{¹ https://edrsilver.com/news-media/news/endeavour-silver-announces-initial-mineral-resourc-4862/}

 
Figure 1: Interpretative cross-section of Cerro Magallanes rhyolitic dome