Riversgold’s Future Hinges on MEGA Approvals and AIS Farm-Out Success

Full Funding Partnership with MEGA Resources

Riversgold Ltd has taken a significant step forward in advancing its Northern Zone Gold Project, located just 25 kilometres east of Kalgoorlie, Western Australia. The company announced a binding Right to Mine and Co-Operation Agreement with MEGA Resources, a well-established mining services provider in the WA Goldfields. Under this agreement, MEGA will fully fund all mining, haulage, geological, and engineering services for the project, removing the need for upfront capital from Riversgold or its partner Oracle Power plc.

This arrangement not only alleviates financial risk for Riversgold but also aligns incentives through a 50/50 profit-sharing model. MEGA will cover all operational costs, including haulage and processing, while Riversgold and Oracle retain their ownership stakes of 80% and 20%, respectively. Additionally, 10% of monthly profits will be reinvested into further drilling and grade control, ensuring ongoing resource definition and expansion.

Promising Exploration and Drilling Progress

The Northern Zone project continues to impress with recent drilling confirming a substantial gold mineralised porphyry approximately 600 metres wide and 500 metres deep. Metallurgical test work has shown excellent gold recovery rates averaging over 92%, reinforcing the project's potential economic viability. Riversgold maintains an Exploration Target of 200 to 250 million tonnes grading between 0.4 and 0.6 grams per tonne gold, translating to an estimated 2.5 to 4.8 million ounces of gold.

Drilling efforts are intensifying with grade control rigs focusing on shallow, previously undrilled zones between known mineralised areas. These programs aim to delineate mineable resources ahead of a maiden Mineral Resource Estimate. MEGA targets commencing mining operations in the January quarter of 2026, pending final approvals and a binding ore purchase agreement with a processing mill.

Farm-Out Agreement Advances Canadian Saint John Project

In parallel, Riversgold has entered a farm-out agreement with Canadian-listed A.I.S. Resources Limited for its Saint John Copper/Gold/Silver/Antimony Project in New Brunswick, Canada. AIS can earn up to a 75% interest by funding staged exploration and drilling expenditures over four years, while Riversgold retains a 25% free-carried interest through to a decision to mine. This deal allows Riversgold to focus resources on its Australian projects while maintaining exposure to promising Canadian assets.

Capital Raising and Broader Portfolio Updates

To support its exploration programs and corporate activities, Riversgold successfully raised A$1.8 million through a placement to sophisticated investors. The funds will primarily advance the Northern Zone and Tambourah Copper-Gold projects, alongside ongoing business development. Other projects include the Wodgina East Iron Ore Project near the expanding Wodgina Lithium mine and the Onslow South Uranium Project, which lies adjacent to significant uranium resources in Western Australia.

Riversgold's strategic partnerships and capital position provide a solid platform as it moves towards resource definition and potential development milestones. The company’s approach balances risk by leveraging third-party funding while retaining meaningful stakes in its key projects.