Riversgold advances Kalgoorlie gold project as funding deal removes up-front costs in March quarter Proactive uses images sourced from Shutterstock

Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has advanced development plans at its Northern Zone Gold Project near Kalgoorlie during the March quarter, underpinned by a funding and mining agreement that removes up-front capital requirements and supports a pathway towards production.

Work at the project, located about 25 kilometres east of Kalgoorlie, focused on progressing approvals, expanding tenure and continuing drilling to define a growing gold system.

A key milestone was the execution of a Right to Mine and Co-Operation Agreement with MEGA Resources, which will fully fund development and mining in exchange for a 50% share of profits. The arrangement allows Riversgold and its partner Oracle Power Plc to move forward without up-front funding commitments.

Northern Zone Project Map showing proximity to the Kalgoorlie "Super Pit".

Kalgoorlie project gains momentum

Development activities at Northern Zone continued to build during the quarter, with several parallel workstreams under way:

Mine Development and Closure Plan (MDCP) progressing, supported by environmental studies and geotechnical drilling Preliminary heritage surveys confirming no identified heritage constraints across key tenements Conversion to a Mining Lease nearing completion Project footprint expanded to more than 8 square kilometres through new applications and acquisitions

Drilling continued to expand the mineralised footprint, with the system now interpreted as a broad porphyry-hosted gold body around 600 metres wide and extending to about 500 metres’ depth.

Recent results also highlighted high-grade potential within the system, including individual assays of up to 71 g/t gold from ongoing drilling.

Drill collar plan and selected significant drill intercepts. The composite gold grade interpolant contours are derived from all the RGL/Oracle drilling results up to March 2026.

Canadian partner advances Saint John project

Outside Australia, exploration commenced at the Saint John copper-gold-silver-antimony project in Canada, where partner A.I.S. Resources is undertaking a high-resolution helicopter-borne magnetic survey.

The program will map magnetic anomalies across the project area, which is considered prospective for iron oxide copper-gold (IOCG)-style mineralisation and offers exposure to a mix of precious, base and critical minerals.

Under the earn-in agreement, A.I.S. can secure up to a 75% interest by funding exploration and development, leaving Riversgold free-carried through to a decision to mine.

Saint John Project

Pipeline projects and funding position

At the Tambourah copper-gold project in Western Australia, a drilling program targeting the Hawkstone prospect has been designed, with execution pending heritage approvals.

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Location of the Tambourah Project and Key Infrastructure

Meanwhile, at Wodgina East, earlier reconnaissance work has identified potential channel iron deposits, with historical samples returning grades above 50% iron.

On the corporate front, Riversgold strengthened its balance sheet with a $2 million placement during the period, supporting ongoing exploration and development activities.

The company ended the quarter with $2.1 million in cash, representing about 4.5 quarters of funding based on current expenditure levels.

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