Riverside Resources Options the Clemente Silver-Gold Project to Silver Viper Minerals Corp.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/866-tsx-venture/rri/27404-riverside-resources-options-the-clemente-silver-gold-project-to-silver-viper-minerals-corp.html

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 6, 2016) – Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99), is pleased to announce that it has signed an option agreement (the “Agreement”) with Silver Viper Minerals Corp. (“Silver Viper”) for the Clemente Project (the “Project”) in Sonora, Mexico. Silver Viper can earn an undivided 100% interest in the Project by paying $750,000 in cash, 2,000,000 Silver Viper common shares and incurring $4,000,000 in exploration expenditures within five (5) years. Riverside will retain a 2% net smelter returns royalty (NSR).

Riverside’s President and CEO, John-Mark Staude stated, “Riverside is pleased to advance the Clemente Project with a reputable group that has a track record of making discoveries in Mexico including La Preciosa with Orko Silver Corp. and Coneto and Sandra Escobar with Orex Minerals Inc. The Clemente area of Sonora has good surface access, is readily workable year-round, and is in close proximity to open pit gold mines in Sonora. Initial partner-funded exploration is anticipated to commence in the first half of 2017 and we look forward to potential drilling at Clemente in the near future.”

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