Riverside Resources and Questcorp Consolidate Key Mineral Concession for Union Project, Sonora, Mexico

Core Viewpoint - Riverside Resources Inc. has successfully consolidated the Famosa Area by acquiring three mineral concessions within the Union Project district in Sonora, Mexico, enhancing its exploration capabilities and ownership structure [1][2][4]. Group 1: Acquisition Details - The acquisition includes three mineral concessions: La Famosa, Dana 7, and Dana 7, with titles valid from 1994 to 2044 and 2003 to 2053, respectively [2]. - The total consideration for the acquisition was US$175,000, with a final payment of US$125,000 completing the purchase option [3]. - Notably, there are no net smelter royalties or other royalties attached to this transaction, providing a clear financial advantage [3]. Group 2: Strategic Importance - The consolidation of the Famosa Area strengthens Riverside's land position within the Union Project, which is characterized by carbonate replacement deposit (CRD) style mineralization and gold mineralization [4][5]. - This acquisition supports ongoing exploration efforts targeting CRD-style gold-silver-polymetallic mineralization, enhancing the potential for future mining activities [4][5]. Group 3: Partnership and Exploration - Riverside is advancing the Union Project in partnership with Questcorp, which has committed up to C$5.5 million in exploration expenditures [5]. - Previous exploration activities have confirmed the presence of gold and polymetallic mineralization across multiple targets, indicating a robust exploration environment [5]. Group 4: Company Overview - Riverside Resources Inc. is a well-funded exploration company with over C$5,000,000 in cash, no debt, and a strong portfolio of assets in North America [9].