Earn-In Agreement Executed On The PWC Gold Project

Earn-In Agreement Executed On The PWC Gold Project

VANCOUVER – Riley Gold Corp. has entered into an exploration and venture option agreement with Kinross Gold Corporation, granting Kinross the right to earn up to a 75% interest in Riley Gold’s Pipeline West/Clipper Gold Project (PWC) by spending a minimum of US$20 million. PWC is located in Lander County, Nevada and consists of approximately 24.7 km² in the heart of the significant gold producing Cortez District (Battle Mountain – Eureka Trend). Kinross will assume operatorship of the project immediately as well as take a strategic 9.9% (on a partially diluted basis) equity interest in the Company through a private placement.