Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Non-Executive Director Ed Mead was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jan 19
Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 2.15 million. Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 2.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 200,000,000
Price\Range: AUD 0.01
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: AUD 0.01
Transaction Features: Subsequent Direct Listing Duyuru • Oct 08
Riversgold Limited, Annual General Meeting, Nov 26, 2025 Riversgold Limited, Annual General Meeting, Nov 26, 2025. Duyuru • Oct 01
Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.8 million. Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 400,000,000
Price\Range: AUD 0.0045
Discount Per Security: AUD 0.00027
Transaction Features: Subsequent Direct Listing Duyuru • Apr 12
Riversgold Limited Announces Assay Results from the Final Four Angled Reverse Circulation Drill Holes at the Northern Zone Intrusive Hosted Gold Project Riversgold Limited announced the assay results from the final four (4) angled reverse circulation (RC) drill holes of an 11 hole 1,289m program recently completed at the Northern Zone Intrusive Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia. A further 1,303 samples from a 1,805m vertical drill program have been submitted to the assay laboratory, with results expected over the coming weeks. These RC program results, continue to successfully intersect the mineralised host porphyry over an increasing footprint within the tenement. All eleven RC holes intersected gold mineralisation. The company will continue drilling to further its understanding of the project before proceeding with a Mineral Resource Estimate (MRE). Possible ore processing scenarios have been demonstrated by the recent success of Black Cat Syndicate Ltd. via their use of a turn-key funding, development and processing package at their Myhree/Boundary open pits, located 7km to the north of the Northern Zone Project. Conceptually, the Company draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, discerning similarities based on the PEA statement released by Saturn Metals, which suggests the potential for a sizeable low-grade heap leach operation. Saturn Metals Limited has released a Preliminary Economic Assessment (PEA) on the Apollo Hill Gold Project which is located 175km due north of Northern Zone. With a resource estimate of 118Mt at 0.53g/t gold, totalling 2.03Moz1, this development serves as a benchmark for the company aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project. Duyuru • Apr 03
Riversgold Limited Announces Gold Results Continue to Shine at Kalgoorlie East Project Riversgold Limited announced that it has received further assay results from five (5) reverse circulation (RC) drill holes of an 11 hole 1,289m program recently completed at the Northern Zone Intrusive Hosted Gold Project, located 25 km east of Kalgoorlie in Western Australia. A further 1,303 samples from a 1,805m vertical drill program have been submitted to the assay laboratory and are expected over the coming weeks. This totals 36 drill holes for 1,756 samples in at the assay laboratory. Possible ore processing scenarios have been demonstrated by the recent success of Black Cat Syndicate Ltd. via their use of a turn-key funding, development and processing package at their Myhree/Boundary open pits, located 7km to the north of the Northern Zone Project. Conceptually, the Company draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, discerning similarities based on the PEA statement released by Saturn Metals, which suggests the potential for a sizeable low-grade heap leach operation. Saturn Metals Limited has released a Preliminary Economic Assessment (PEA) on the Apollo Hill Gold Project which is located 175km due north of Northern Zone. With a resource estimate of 118Mt at 0.53g/t gold, totalling 2.03Moz1, this development serves as a benchmark for its aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (89% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€4.10m market cap, or US$4.58m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (40% increase in shares outstanding). Duyuru • Sep 20
Riversgold Limited Receives the First Batch of Assay Results from Aircore Drilling Riversgold Limited announced that it has received the first batch of assay results from aircore (AC) drilling undertaken during Riversgold's third 2024 aircore program at the Northern Zone Intrusive Hosted Gold Project, located 25km east-south-east of the Kalgoorlie Super Pit in Western Australia. Following on from its successful aircore programs completed in May and July 2024, Riversgold engaged drilling contractor, Australian Aircore Drilling (Mick Shorter), to undertake a third aircore program for a further 30 holes in late August and early September 2024. 1,826m of AC drilling was completed at Northern Zone in the most recent drilling campaign bringing the total number of metres drilled this year to 5,501m of AC drilling and 1,363m of reverse circulation drilling. The AC holes were drilled using a blade to drilling refusal. The cuttings were logged by RGL geologists, and both the detailed logging and assays continue to show that a significant gold mineralisation event has taken place within the project area. All historical and recent drilling data for a total of 167 drillholes at the Northern Zone Project has now been uploaded into Leapfrog software and has enabled the Company to generate a gold grade model. Leapfrog will now be used to guide the next round of drilling, as the company ntinue to build the project. Results from the first 8 holes of the most recent 30-hole program have been received with significant intercepts including: 4m @ 0.63 g/t Au from 27m (NZAC081) 5m @ 1.5 g/t Au from 30m (NZAC054) 1m @ 1.04 g/t Au from 63m (NZAC081) 1m @ 0.33 g/t Au from 50m (NZAC054) 1m @ 0.3 g/t Au from 32m (NZAC082) 1m @ 0.72 g/t Au from 63m (NZAC054) 1m @ 0.32/t Au from 27m (NZAC083) 4m @ 1.05 g/t Au from 30m (NZAC080) 2m @ 0.94 g/t Au from 36m (NZAC083) 1m @ 0.91 g/t Au from 50m (NZAC080) 1m @ 1.95 g/t Au from 34m (NZAC060) 2m @ 2.72 g/t Au from 33m (NZAC056) 2m @ 1.22 g/t Au from 56m (NZAC060) Significant shallow gold intercepts from the July AC program include2: · 16m @ 4.69 g/t Au from 30m (NZAC033) · 3m @ 3.32 g/t Au from 35m (NZAC030) · 4m @ 6.9 g/t Au from 39m (NZAC029) · 9m @ 1.2 g/t Au from 31m (NZAC048) RC drilling targeted the shallower, up dip portion of the mineralised system, yielding several significant intercepts, including3: 18m @ 4.14g/t Au from 36m (NZRC001) 8m @ 0.57g/t Au, from 221m (NZRC005) 54m @ 0.38g/t Au from 158m (NZRC004) 9m @ 0.85g/t Au, from 176m (NZRC006) 14m @ 0.76g/t Au, from 226m (NZRC004) 22m @ 0.41g/t Au, from 272 metres to EOH 15m @ 0.66g/t Au, from 160m (NZRC005) (NZRC006) Significant results from the maiden 2023 diamond drill traverse included4: 110m @ 0.6 g/t Au from 208m (RSDD02) 25m @ 0.44g/t Au from 231m (RSDD003) 5m @ 3.03g/t Au from 221m 47m @ 0.48g/t Au from 216m (RSDD01) 1m @ 4.77g/t Au from 248m 8m @ 0.55g/t Au from 127m (RSDD02) 1m @ 5.26g/t Au from 262m 84m @ 0.42g/t Au from 315m (RSDD003) 13m @ 1.29g/t Au from 274m 4m @ 0.52g/t Au from 34m (RSDD04) 16.4m @ 0.45g/t Au from 83.6m (RSDD003) 8m @ 0.43g/t Au from 77m (RSDD04) 13m @ 0.48g/t Au from 135m (RSDD003) 4m @ 0.47g/t Au from 92m (RSDD04) 11m @ 0.49g/t Au from 197m (RSDD003) Significant results from 2021 and prior RC drilling include5: 154m @ 0.58g/t Au from 98m (21OPRC004) incl 4m @ 5.39g/t Au from 182m 142m @ 0.42g/t Au from 62m (BNRC081) 330m @ 0.49 g/t Au from 30m (BNRC066) incl 54.79m @ 1.15g/t Au from 213m 117.7m @ 0.35g/t Au from 120.3m (BNRC034) 66m @ 0.89g/t Au from 30m (BNRC069) 38m @ 0.47g/t Au from 73m (BNRC084) 29m @ 1.84g/t Au from 33m (BNRC017) The above results indicate that the company is successfully continuing to probe the porphyry over an increasing footprint within the tenement. the company drilling to further its understanding of the project before proceeding with a Mineral Resource Estimate (MRE). Mineralisation remains open in multiple directions, necessitating further drilling campaigns. Saturn Metals Limited has released a Preliminary Economic Assessment (PEA) on the Apollo Hill Gold Project which is located 175km due north of Northern Zone. With a resource estimate of 105Mt at 0.54g/t gold, totaling 1.839Moz6, this development serves as a benchmark for its aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project. Conceptually, the Company draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, discerning similarities based on the PEA statement released by Saturn Metals (ASX 7 August 2023), which suggests the potential for a sizeable low-grade heap leach operation. Duyuru • Sep 16
Riversgold Limited, Annual General Meeting, Nov 28, 2024 Riversgold Limited, Annual General Meeting, Nov 28, 2024. Duyuru • Jul 24
Riversgold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.85 million. Riversgold Limited has completed a Follow-on Equity Offering in the amount of AUD 1.85 million.
Security Name: Odinary Shares
Security Type: Common Stock
Securities Offered: 241,915,363
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Security Name: Odinary Shares
Security Type: Common Stock
Securities Offered: 94,448,273
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Duyuru • May 13
Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.85 million. Riversgold Limited has filed a Follow-on Equity Offering in the amount of AUD 1.85 million.
Security Name: Odinary Shares
Security Type: Common Stock
Securities Offered: 241,915,363
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Security Name: Odinary Shares
Security Type: Common Stock
Securities Offered: 94,448,273
Price\Range: AUD 0.0055
Discount Per Security: AUD 0.00033
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Duyuru • Jan 15
Riversgold Limited Announces CEO Changes Riversgold Limited announced that Mr. Julian Ford, who has been the Company's CEO since July 2021, will step down from the role effective 26 January 2024. Mr. David Lenigas, the Company's Executive Chairman, will become both the Executive Chairman and CEO until further notice, supported by RGL's experienced mining executives Simon Andrew, Ed Mead and Oonagh Malone. Duyuru • Jan 11
Riversgold Ltd Provides Northern Zone Project Development Update Oracle Power PLC updated shareholders on the farm-in by Riversgold Ltd., on the Northern Zone Intrusive Hosted Gold Project, which is located 25km east of Kalgoorlie in Western Australia. Riversgold has spent AUD 273,299.26 to date on the exploratory works undertaken post farm in agreement. Heritage survey assessment is to be completed shortly and a programme of works is ready to be submitted thereafter. Further RC drilling is planned to expand the target cross section and advance the Project towards a targeted maiden Mineral Resource Estimate in 2024. Riversgold now has the option to withdraw as it has spent in excess of AUD 200,000 but is not expected to do so. The planned POW will move RGL towards the aggregate AUD 600,000 expenditure trigger, whereby the intended 80:20 joint venture structure between RGL and Oracle will be activated. Once the Proposed JV is in place, Oracle intends to fund its share of exploration and development costs in order to maintain its 20% interest in the potential prospect. Previously announced Exploration Target of 200Mt - 250Mt at a grade of 0.4 g/t Au - 0.6 g/t Au for an exploration target of 2.5Moz - 4.8Moz of gold. The Northern Zone Project is located 25km, east-south-east of the Kalgoorlie Super Pit and is readily accessed from the Bulong road, which is paved to within 9km of the prospect site. The last 9km consists of 4km of a high-quality haul road with the last 5km on a station road. The topography is flat lying, open scrub with several historical remnant gold and nickel excavation pits less than 5km from the prospect site. As announced in December 2023, drilling Contractor DDH1 completed the drilling at Northern Zone using a combination of HQ3 and NQ2 diamond drilling. The core was logged by contract geologists in Kalgoorlie, with oversight from RGL geologists. The detailed logging has shown that a gold mineralisation event has introduced significant micro-fracturing and quartz veining, with significant thicknesses of alteration also observed. A central cross section completed as proof of model has validated a portion of the project, with multiple untested areas. On 9 May 2023, RGL and Oracle announced the potential 80% earn-in to the Northern Zone Gold Project by Riversgold. RGL undertook a 4-hole diamond drill programme for 1,379m (with orientated core) to specifically test the exploration model of +100m wide gold mineralisation. Riversgold completed the drilling on 21 August 2023 and all of the core was sent to ALS in Perth for core photographs, cutting and assaying. Assays results were received and interpreted by Riversgold and the work confirms the original mineralisation model, style, widths and grades. Located 175km due north of Northern Zone, Saturn Metals Limited has released a Preliminary Economic Assessment on the Apollo Hill Gold project that has a resource of 105Mt @ 0.54 g/t gold for 1.839Moz. RGL views the Apollo project as an example of what are looking to achieve at Northern Zone, albeit with Northern Zone being a potentially larger project.ceptually, Riversgold sees similarities between Northern Zone and Saturn Metals' Apollo Hill project, based on the information in the PEA statement of a large low grade heap leach operation, to further develop the concept the plans to: Undertake further metallurgical test work to confirm the amenability of the mineralization to leaching and develop initial estimates of reagent consumption. Undertake further drilling towards defining a resource at Northern Zone, with step out drilling on 100m cross-sections especially towards the untested southeast areas. New Risk • Dec 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Share price has been highly volatile over the past 3 months (95% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (AU$46k revenue, or US$31k). Market cap is less than US$10m (€7.15m market cap, or US$7.85m). Minor Risk Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Duyuru • Dec 12
Riversgold Limited Receives Assay Results from Diamond Drilling Programme at the Northern Zone Intrusive Hosted Gold Project Oracle Power plc reported that its potential farm-in partner, Riversgold Ltd. (RGL), has received the assay results from a diamond drilling programme at the Northern Zone Intrusive Hosted Gold Project, which is located 26km east of Kalgoorlie in Western Australia. Highlights: Diamond drilling of entire gold-mineralised central cross-section to 450m vertical depth has validated previous Exploration Model. Previously announced Exploration Target of 200Mt - 250Mt at a grade of 0.4 g/t Au - 0.6 g/t Au for an exploration target of 2.5Moz - 4.8Moz of gold. High gold recovery of 92.9% (average) after 24-hour bottle roll cyanide extraction. Drill programme has: Confirmed the gold mineralisation style; Confirmed gold mineralisation widths and gold grades; and Structural orientation of the gold mineralisation; Significant results from 2023 diamond drilling confirmation programme include: 110m at 0.60 g/t Au from 208m (RSDD02) including 2m @ 2.64g/t Au from 208m, 5m @ 3.03g/t Au from 221m, 1m @ 4.77g/t Au from 248m, 1m @ 5.26g/t Au from 262m, 13m @ 1.29g/t Au from 274m, 16.4m @ 0.45g/t Au from 83.6m (RSDD003), 13m @ 0.48g/t Au from 135m (RSDD003), 11m @ 0.49g/t Au from 197m (RSDD003), 26m @ 0.44g/t Au from 231m (RSDD003), 47m at 0.48g/t Au from 216m (RSDD01) including 1m at 4.74g/t Au from 244m, 1m at 4.04g/t Au from 262m, 8m at 0.55g/t Au from 127m (RSDD02), 84m @ 0.42g/t Au from 315m (RSDD003) including 3.32m @ 2.73g/t Au from 332m, 4m @ 0.52g/t Au from 34m (RSDD04), 8m @ 0.43g/t Au from 77m (RSDD04), 4m @ 0.47g/t Au from 92m (RSDD04), Significant results from 2021 and prior RC drilling include: 154m at 0.58g/t Au from 98m (21OPRC004) including 4m at 5.39g/t Au from 182m, 142m at 0.42g/t Au from 62m (BNRC081), 330m at 0.49 g/t Au from 30m (BNRC066) including 54.79m at 1.15g/t Au from 213m, 117.7m at 0.35g/t Au from 120.3m (BNRC034), 66m at 0.89g/t Au from 30m (BNRC069), 38m at 0.47g/t Au from 73m (BNRC084), 29m at 1.84g/t Au from 33m (BNRC01). Duyuru • Nov 26
Riversgold Limited (ASX:RGL) entered into a purchase agreement from Redstone Metals Pty Ltd for AUD 0.2 million. Riversgold Limited (ASX:RGL) entered into a purchase agreement from Redstone Metals Pty Ltd for AUD 0.2 million on November 24, 2023. Consideration will be in the form of cash and Deferred Consideration. Duyuru • Oct 05
Riversgold Limited, Annual General Meeting, Nov 30, 2023 Riversgold Limited, Annual General Meeting, Nov 30, 2023, at 14:30 W. Australia Standard Time. Agenda: To consider the election of directors. New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.4m free cash flow). Share price has been highly volatile over the past 3 months (74% average weekly change). Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m (AU$567k revenue, or US$365k). Market cap is less than US$10m (€7.52m market cap, or US$7.95m). Minor Risk Shareholders have been diluted in the past year (23% increase in shares outstanding). Duyuru • Jun 14
Corcel plc Announces Initial Drilling Results from the Mt. Weld Rare Earth Element Joint Venture with Riversgold Limited Corcel Plc announced the initial drilling results from the Company's Mt. Weld rare earth elements joint venture with Riversgold Limited, located 1.5km west/north-west of Lynas Rare Earth Element's Mt. Weld rare earth oxide mine, near Laverton, Western Australia. Highlights: Initial composite RC drill samples assay up to 2,200ppm TREO; 52% of the planned initial 2,000m RC programme completed to date; Drilling program is on tenement P34/4489 - immediately to the west of Lynas' globally significant Mt Weld rare earth oxide mine. Drill Results: The Company's JV partner, Riversgold, has drilled 5 holes to date totaling 1,036m of an initial seven-hole (2,000m) reverse circulation drilling program on the joint venture tenement P34/4489. The program was designed to test several magnetic features confirmed through both airborne and ground magnetic surveying. The results from all 1m samples from the drill holes will be submitted for assaying shortly. The Mt Weld Project straddles the access road to Lynas' Mt Weld mine. The tenement is predominantly covered by recent transported sediments obscuring the underlying geology, with four discrete undrilled magnetic features (T1-T4). Drill Hole Locations completed to date at Mt Weld (P34/4489) Hole one was abandoned due to difficult ground conditions at 84m. All four remaining holes intersected the geophysical targets as modelled. The magnetic high was deemed to be highly magnetic, black mafic volcanics which were intersected at a width of 10 to 20m from 190 to 210m downhole. To ascertain if REEs were indeed present, the Company prepared four composite 4 metre samples from holes 2 to 4 which had intersected highly magnetic, black mafIC volcanics. These samples were dispatched to the assay lab for rush analysis prior to completing the drill program. The drilling in holes 4 to 5 was successful in intersecting the targeted interpreted magnetics, representing targets T2 and T3 in the announcement dated 2 May 2023. T1 was not drilled due to temporary flooding of the small creek where the target drill hole was located. On further assessment of the ground geophysics interpretation, T4 was downgraded to a be a secondary priority, although it is located closer to the operating Mt Weld Mine Site. In hole 5, which was drilled after the rush assay was despatched, but before the assay results were received, the drilling also intersected medium grained, pink intermediate porphyry interpreted as syenite. Syenite is the host rock at the neighbouring Wallaby Gold deposit currently being mined by Anglo American Gold. Duyuru • May 31
Riversgold Limited (ASX:RGL) singed a agreement to acquire to acquire 20% stake in Queen Lapage project (E25/538 and E28/2580), Venetian project (E25/540) and Jaws project (E25/539) from Serendipity Pty Ltd Riversgold Limited (ASX:RGL) singed a agreement to acquire to acquire 20% stake in Queen Lapage project (E25/538 and E28/2580), Venetian project (E25/540) and Jaws project (E25/539) from Serendipity Pty Ltd on May 30, 2023. As part of consideration Serendipity will take 100% ownership of Farr Jones project tenement (E25/541) in which it previously holding 20% stake and Riversgold will pay AUD 0.2 million in cash and issues 5,793,743 shares to Serendipity. Duyuru • Feb 11
Riversgold Limited Lithium Commences Drilling to Imminently at Mt Holland Riversgold Limited announced it has lodged a Program of Works (PoW) for a maiden drilling program on tenement E77/2784 for the Earl Grey Prospect, immediately adjacent to and potentially down dip of the globally significant Mt Holland Lithium Project being developed by Covalent Lithium in the Marvel Loch region of Western Australia. The initial PoW for up to 2,000 m reverse circulation (RC) holes with the option for diamond tails allows for 5 drill holes at up to 500m deep each and is designed to test for the potential extension of the Earl Grey Deposit1 to the north-west where it is interpreted to be open and extending at depth. Drilling will begin as soon as the PoW is approved by the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) and heritage clearance is received. Background: The Earl Grey Deposit is now owned by the Joint Venture company, Covalent, with owners SQM and Wesfarmers 50:50 partners. Kidman Resources Ltd. (Kidman) drilled out the Earl Grey Deposit in 2016, with the drill assay results published between September 2016 and December 2016. Kidman declared an initial Mineral Resource on 5 December 2016 of 78.5 Mt of Indicated and Inferred Resources at 1.44% Li2O1. Kidman subsequently updated this on 19 March 2018 to 189 Mt at 1.50% Li2O of Measured, Indicated and Inferred Mineral Resource2. The Kidman interpretation from this drilling phase indicated that the Earl Grey Deposit was open to both the north and the north-east, although it was dipping at about 20%. The northernmost extension drill hole for Kidman (KEGR112) intersected3: 11m at 1.13% Li2O from 324m; 9m at 1.27% L2 Li2O from 384m; and 10m at 1.81% Li2O from 395m. Duyuru • Jan 25
Riversgold Limited Provides Update on Lithium Soil Geochemical Results At the Mt Holland Lithium Project Riversgold Limited provided this update on very positive lithium soil geochemical results at the Mt Holland Lithium Project (the Project), located immediately adjacent to the globally significant Mt Holland Lithium Mine, currently under development by Covalent Lithium, the joint venture between Wesfarmers Limited and Sociedad Quimica y Minera de Chile S.A. (SQM) in the Marvel Loch region of Western Australia. Expanded geochemical sampling on the southern portion of the Mt Holland Project tenement has defined a clear 900m long lithium index anomaly, with multiple anomalies for lithium identified. The nominal 100 metre spaced soil sampling program results will be merged with DGPR results that are due shortly, to assist with further developing drill hole design. A Program of Work (PoW) is to be submitted shortly, with heritage notifications, with drilling aimed to be underway this quarter. The Pegmatite Index of Li+Cs+Rb+Sn+Ta is generated by factoring each element to have an equal weighting, and shows the central area has a major pegmatite dyke trending NNW with possibly another starting to appear in the NE corner. When all spot target zones generated by individual elements are overlain on the Pegmatite Index, they define a strong coherent target zone in the central portion of the sampled area between the two dolerite dykes. The contour plot of Li shows numerous spot highs to which inferred pegmatite dyke orientations have been added. Two clear low zones are identified; one in association with a mapped dolerite dyke with the second inferred to represent an unmapped repeat. The pattern of spot highs is typical of the response of "mineralisation" seen in sandplain regolith. Riversgold has an agreement to acquire an 80% interest in the lithium rights to Exploration Licence E77/2784. The tenement lies immediately adjacent to the globally significant Mt Holland Lithium Mine, currently under development by Covalent Lithium, the joint venture between Wesfarmers Limited and Sociedad Quimica y Minera de Chile S.A. (SQM). Kidman Resources, which discovered the Earl Grey lithium deposit at Mt Holland in 2016, originally identified an extension of the Bounty gold mine tailings storage facility (TSF) as the preferred tailings dam site for the Mt Holland Lithium Mine. However, sterilisation drilling between the Bounty gold open pit and the TSF in late 2017 identified several significant lithium intersections, including 17.6m at 1.67% Li2O from 146m, showing that lithium mineralisation extends east and potentially into E77/2784. Publicly available drilling data shows that a RAB hole drilled in 1993 by Normandy Exploration, targeting gold east of the Bounty gold mine, intersected 1.0m of pegmatite logged from 13.0m to 14.0m. The geological log description for the interval from 28.0 to 41.0m can be interpreted as potentially being a weathered expression of the same pegmatite, which suggests the possible presence of thick pegmatites within E77/2784. Kidman carried out geochemical sampling for lithium and cleared gridlines for a major drill program in 2016. However, the company's entire exploration efforts were soon diverted to resource definition and extension at the Earl Grey deposit and the exploration targets east of Bounty, now under Riversgold's tenure, were never followed up. A 2019 independent expert report from CSA Global commissioned by Kidman also identified the possibility for the Earl Grey pegmatite to continue at depth under the E77/2784 tenement. This target, newly coined "MHG" by Riversgold, is interpreted to lie at a depth of 300m below surface and could constitute an extension of the Earl Grey lithium deposit. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Simon Andrew was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 27
Insider recently sold €152k worth of stock On the 18th of August, Tolga Kumova sold around 6m shares on-market at roughly €0.025 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Apr 27
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Director Simon Andrew is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. 