Vancouver, British Columbia–(Newsfile Corp. – August 6, 2020) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99) (“Riverside” or the “Company”) is pleased to announce that further to its press releases dated February 25, 2020 and April 1, 2020, the effective date for the spin-out of the Peñoles Project to its shareholders by way of a plan of arrangement (the “Arrangement”) with Capitan Mining Inc. (“Capitan”) is expected to occur at 12:01 a.m. on August 14, 2020 (the “Effective Date”). Pursuant to the arrangement, holders of common shares of Riverside on August 13, 2020 will receive one new common share of Riverside (each, a “Riverside Share”) and 0.2767 of a Capitan share (each, a “Capitan Share”). The existing common shares of Riverside are expected to be delisted on the TSX Venture Exchange (the “TSXV”) on August 13, 2020. Riverside Shares are expected to commence trading on the TSXV at the market opening on August 14, 2020. The CUSIP numbers for the new Riverside Shares and the Capitan Shares will be 76927D101 and 140703109, respectively.