RIVERSGOLD REPORTS STRONG GOLD HITS AND SECURES $2.15M CAPITAL RAISE

Kalgoorlie drilling results highlight shallow gold as JV partner commits to 100M shares

Riversgold Ltd (ASX:RGL) has reported promising gold assay results from its Northern Zone Gold Project near Kalgoorlie, Western Australia, while also securing a $2.15 million capital raise at $0.01 per share. The raise includes a 100 million share subscription from joint venture partner MEGA Resources.

Initial 2026 assays have confirmed continued shallow gold mineralisation, with standout intercepts including:

8m @ 5.81 g/t gold from 46m (NZAC179)
7m @ 3.48 g/t gold from 48m (NZAC181)
5m @ 3.13 g/t gold from 41m (NZAC170)
4m @ 2.28 g/t gold from 43m (NZAC182)

Results from 16 additional drillholes are expected in two upcoming batches. Further drilling is scheduled to begin on 10 February 2026 to continue expanding the oxide gold mineralisation footprint.

The company also confirmed progress on mine approvals, with conversion to Mining Lease underway following a signed Heritage Agreement. Environmental assessments have commenced as part of the Mine Development and Closure Plan (MDCP).

David Lenigas, Executive Chairman of Riversgold, said:
I’m very pleased to welcome MEGA Resources, our Kalgoorlie Gold Project’s development partner, on as a Riversgold shareholder having subscribed for 100 million shares in this placing. We are all looking forward to moving our Northern Zone Gold Project towards gold sales later this year with MEGA Resources funding 100% of the development costs, as we announced in September last year.