GOLDEN RIDGE RESOURCES DRILLS 60.27m of 2.60 G/T AUEQ AT THE HANK PROJECT IN BC S GOLDEN TRIANGLE
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1 GOLDEN RIDGE RESOURCES DRILLS 60.27m of 2.60 G/T AUEQ AT THE HANK PROJECT IN BC S GOLDEN TRIANGLE Kelowna, British Columbia December 12, 17 - Golden Ridge Resources Ltd. ( Golden Ridge or the Company ) (TSXV: GLDN). Golden Ridge is pleased to report the second batch of assay results from its 17 drill program at the Hank Property ( Hank or the Property ) in northwestern British Columbia, Canada. HNK returned 2.60 g/t AuEq over meters, HNK returned 1.0 g/t AuEq over 78.23m within a broader intercept of 0.73 g/t AuEq over 1.48 meters and HNK returned 1.04 g/t AuEq over 60.9 meters with a broader intercept of 0.63 g/t AuEq over 2.31 meters. Holes 4-6 represent a -meter step-out along strike from holes 1 and 2 (previously reported on November 8, 17), while holes 7 and 8 (results from 9 pending) represent a >1.1 km step-out. Although unknown at this time, cross-sections demonstrate the intercepts to be near to true widths, as correlations between holes show the mineralized shear zones to be roughly perpendicular to the hole directions. Drilling Highlights: Consistent grade and continuous shear zone hosted mineralization between holes. Mineralization has now been intersected over a 1.1 km strike length in the Lower Alteration Zone ( LAZ ). Coarse visible gold observed in HNK ( m, 133 g/t Au) Significant Au-Ag-Pb-Zn grades surround the high-grade veins, resulting in long mineralized intercepts in each hole. Although unknown at this time, cross-sections suggest the intervals reported to be near true widths. Assays are pending for HNK where a newly discovered mineralized intrusion was intersected, with strongly altered volcanic rock along its contact, potentially representing a causative intrusion for the LAZ mineralization. Analytical results for the LAZ demonstrate that the grades increase toward its hanging wall contact, as opposed to the Upper Alteration Zone (UAZ) where the strongest grades occur at the footwall contact.
2 Table 1 - Hank 17 LAZ Drill Holes HNK HNK : Significant Intercepts Hole Length Hole ID From To Interval AuEq* (g/t) Au (g/t) Ag (g/t) Pb (%) Zn (%) AuEq x Interval (gm/t) HNK incl HNK incl incl incl incl HNK AND incl incl incl HNK incl incl incl incl incl AND HNK incl incl AND *Gold equivalent (AuEq) grades are calculated using day moving average metal prices of: gold US$1268/oz., silver US$17./oz., lead US$1.04/lb and zinc US$1.28/lb. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * Pb (%) * Zn (%) * The factors for silver (0.013), lead (0.62) and zinc (0.692) will change depending on the metal price. The metal price numbers listed above were used to determine the conversion factors presented herein. Metal recoveries have not been applied in the gold equivalent calculation. A single drill hole, HNK was collared southwest of the /440 zone of the UAZ to test its down dip extension. The alteration, mineralization and veining present in the /440 zone was not intersected in HNK , however low-grade mineralization was encountered over several significant intercepts. It is interpreted the /440 zone plunges either vertically or to the east, which will be tested in 18. In the LAZ, holes HNK to HNK have appreciable concentrations of lead and zinc associated with the gold and silver, whereas, gold and silver in HNK from the UAZ does not have a base metal association.
3 Table 2 - Hank 17 UAZ Drill Hole HNK : Significant Intercepts Hole Length Hole ID From To Interval AuEq ** (g/t) Au (g/t) Ag (g/t) HNK AND AND **Gold equivalent (AuEq) grades are calculated using day moving average metal prices of: gold US$1268/oz. and silver US$17./oz. Gold equivalent grade is calculated as AuEq (g/t) = Au (g/t) + Ag (g/t) * The factor for silver (0.013) will change depending on the metal price. The metal price numbers listed above were used to determine the conversion factors presented herein. Metal recoveries have not been applied in the gold equivalent calculation. Michael Blady, CEO of Golden Ridge stated: We are very pleased with the continuity of mineralization within the LAZ. To drill consistent grades between holes on each section over a strike length of 1.1 km is remarkable. Gaining an understanding of the controls on mineralization in the LAZ, including the discovery of a mineralized intrusion in HNK gives Golden Ridge a major advantage over historical operators, which only sparsely tested the zone. We look forward to receiving the remainder of the results from the 17 program. A drill plan view map, drill sections and select core photos are included in this news release and can be downloaded from Golden Ridge Resources Ltd. website at: QA/QC Procedures: All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment to ALS Global s sample preparation facility in Terrace, BC, certified reference material standards, blanks and field duplicates were inserted at a ratio of approximately 1 in every drill core samples. Samples were prepared in Terrace by crushing the entire sample to 70% passing -2mm, riffle splitting off 1kilogram and pulverizing the split to better than 8% passing 7 microns. After preparation in Terrace, the prepared pulps were shipped to ALS Global s analytical laboratory in North Vancouver, BC. The gold assays are determined by Au-AA26 fire assay method which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)). Any samples with a fire assay that report gold concentrations equal to or higher than 1.0 g/t Au are analysed by screen metallic method (Au-SCR24). Base metal assays are first determined using the ME-MS41 method, which reports results as parts per million (ppm). All analyses that reach the overlimits of ME-MS41 are reanalyzed with an Ore Grade method. The analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures. Qualified Person: C. Mark Rebagliati, P.Eng., a consultant to the Company, is a Qualified Person as defined under National Instrument 43-1 and has reviewed and approved the technical content of this news release. About Golden Ridge Resources: Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in British Columbia. Golden Ridge currently has an option to acquire a % interest
4 in the 1,700-hectare Hank gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia. Golden Ridge may earn the % interest by performing $1.7M of exploration work by the end of 18. For more information please contact: Golden Ridge Resources Ltd. Mike Blady Chief Executive Officer Tel: () Website: Cautionary Statement Regarding Forward Looking Statements This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information.
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6 409 E 409 E 409 E N N HNK E 409 E 409 E N N HNK HNK E 409 E N N E 409 E 409 E A A 1 m Lower Alteration Zone (LAZ) 1 m 6342 N 6342 N E E 6342 N E 6342 N 6342 N -12. m E +12. m E N 409 E 409 E 409 E N N 409 E 409 E N N 409 E 409 E 1 RL 1 RL 1 RL 1 RL 0 RL 0 RL HNK RL 0 RL m RL 90 RL HNK m over 73.48m 900 RL 900 RL 80 RL 80 RL 800 RL 800 RL m 30 HNK RL 70 RL over 16m 0.63 over 2.31m OVERBURDEN.60g/t 24.62g/t 409 E 409 E 36.21g/t 6342 N 6342 N E E 6342 N 6342 N Figure 2. Hank Project Cross- Section A-A E E E E News Release LEGEND Lower Alteration Zone Mineralized Shear Zones HNK over 73.48m (0.28g/t Au,.8g/t Ag, 0.08% Pb,0.17% Zn) HNK over 16m (0.28g/t Au, 4.0g/t Ag, 0.06% Pb, 0.% Zn) HNK over 2.31m (0.4g/t Au,.1g/t Ag, 0.03% Pb, 0.14% Zn) m 6342 N 6342 N
7 400 1 m HNK HNK B B 1 m HNK E E -12. m +12. m 4090 E N E 6343 N E 6343 N E Lower Alteration Zone (LAZ) 6343 N 6343 N N Figure 3. Hank Project Cross- Section B-B N E News Release E E E 6343 N E 6343 N 1 RL LEGEND Lower Alteration Zone Mineralized Shear Zones 1 RL 1 RL HNK over 1.48m (0.41g/t Au, 3.3g/t Ag, 0.% Pb, 0.32% Zn) 0 RL 0 RL HNK over 60.27m (2.14g/t Au, 6.9g/t Ag, 0.11% Pb, 0.4% Zn) MINERALIZED AUREOLE 0 RL 0 RL HNK ASSAYS PENDING m OVERBURDEN 2.60 over 60.27m.67g/t 7.40g/t 6.94/t 0.73 over 1.48m g/t.49g/t 13.09g/t BRITTLE CARAPACE INTRUSION 90 RL 90 RL 16.86g/t 900 RL 900 RL HNK m 7.33g/t ASSAYS PENDING 2.36g/t 4 80 RL 80 RL m HNK RL 800 RL m HNK RL 70 RL 6
SAMPLE ID SAMPLE TYPE Au (g/t) Ag (g/t) Cu (%) AuEq**(g/t)
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