Kinross Gold completes 2026 exploration update and drill planning at Riley Gold's PWC project, Nevada

Vancouver, British Columbia--(Newsfile Corp. - July 14, 2026) - Riley Gold Corp. (TSXV: RLYG) (OTCQB: RLYGF) (" Riley Gold " or the " Company ") is pleased to announce that the 2026 exploration program is underway at the Company's Pipeline West/Clipper Gold Project (" PWC "), located in the Cortez mining district of the Battle Mountain - Eureka Trend. PWC is operated by Kinross Gold U.S.A., Inc. (" Kinross "), a wholly-owned subsidiary of Kinross Gold Corporation (TSX: K) (NYSE: KGC), under an exploration earn-in agreement executed in March 2024 whereby Kinross has the right to earn up to 75% of PWC by spending USD$20,000,000. Highlights Kinross has defined 2026 high-priority framework drill target areas at PWC that have never been drill tested ( see Figure 1 below ); 2026 framework drill holes will be targeting gold-in-soil anomalies coincident with structural features known and newly interpreted this Spring 2026 on the property; Compiled geologic mapping, geophysical surveys, historical drill results, gold-in-soil survey results, new 2026 seismic survey data, new downhole geochemistry analysis (Spring 2026) and successful drilling in 2025/2024, have been uploaded in Leapfrog software supporting the new 2026 drill hole locations; Iterative and evolving geologic modeling and interpretation by Kinross also provides a supporting structural foundation and information for the 2026 exploration drill program.

Drill contracts have been awarded, and drilling will begin this summer. "We are pleased to have completed the 2026 drill-planning and look forward to the start of drilling. Drill planning requires the careful integration of evolving geological information, and Kinross, together with Riley Gold's PWC technical lead, Paul Dobak, has identified framework drill-hole locations for the next phase of work.

Based on results to date, the team has recognized favorable Wenban stratigraphy at explorable depths within PWC that is comparable to settings associated with major local gold deposits, including the Fourmile discovery in the Cortez Complex, owned and operated by Nevada Gold Mines LLC ("NGM")," commented Todd Hilditch, CEO of Riley Gold. 2026 Geological Initiatives Completed The following outlines recent geological work that has expanded upon evolving information from drill holes to date, along with surveys completed by Riley Gold and Kinross. Seismic Survey - In March 2026, Kinross contracted a third-party provider to complete a surface shear-wave velocity survey. The survey included four lines totaling 13.6 line-km, with 15 m channel spacing.

The seismic lines were designed to improve interpretation of geophysical anomalies and lower-plate delineation, using previous drilling as a constraint. Survey results and interpretations have contributed to the 2026 drill-hole location process. Seismic interpretation confirmed and sharply outlined structures and geological features to depths of 2.5 km that align with known near-surface gold-bearing structures and indicate additional lineaments that may represent new, untested structures.

Downhole Geochemistry Analysis - Down-hole lithogeochemistry analysis, conducted by consultants 3PXS, was able to characterize stratigraphy into 1) upper and lower plate units 2) recognize dolomitization and the "marble front" 3) pick out sulfidized horizons with white mica alteration and anomalous gold plus pathfinder elements. These geochemical tools will be helpful to vector towards higher grade mineralization in the upcoming drilling campaign. Plan of Operations - Additional steps for completion of the Exploration Plan of Operations ("EPO") for PWC remains ongoing.

Significant upcoming milestones include Biological Baseline Surveys as well as Cultural Resources Reports expected to be near completion in Q42026. Subject to approval by the Bureau of Land Management and the State of Nevada, the EPO would allow Kinross to conduct exploration activities across approximately 14 square kilometres (3,478 acres) within PWC. These activities may include access roads, overland travel routes, laydown areas and up to 400 drill sites, each with an approximate 100-foot by 100-foot working surface that includes drill pads and sumps. 2026 Drill Planning Overview Kinross has developed a comprehensive geologic model to compare PWC with several greater-than-five-million-ounce gold discoveries in the Cortez District.

Key Cortez District elements at PWC include 1) a NW trending metallogenic belt, 2) NW stepping, symmetrical, on echelon structures, 3) district deposits are within and straddle the "Cortez Window" into the lower plate rocks, 4) deposits occur symmetrically around Mesozoic Stocks and, 5) Goldrush/Fourmile deposits discovered in soil anomalies through the upper plate. Additional framework drill holes are being planned north and south of Kinross' initial 2025 drill holes, PW25-02 and PW25-03, and west of PW24-01 ( see Figure 1 below ). The planned drilling will test targets to the south along some of the highest-grade surface gold-in-soil anomalies, which coincide with an interpreted major structure identified through recent seismic work, previous geophysics, and geologic mapping.

Downhole geochemistry from 2024 and 2025 drilling has helped refine the team's understanding of the system and its similarities to regional gold deposits. The primary target remains a large, disseminated gold deposit peripheral to the Gold Acres stock, a geologic setting similar to NGM's Pipeline gold deposit. 2026 Kinross Drill Planning & Map Figure 1 -Drill Target Areas To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10015/305042_6b763eed145349ed_002full.jpg Kinross Agreement Overview Riley Gold entered into an exploration and venture option agreement (the " Agreement ") with Kinross on March 13, 2024. The Agreement grants Kinross the right to earn up to a 75% interest in Riley Gold's PWC by spending a minimum of US$20 million (see news release dated March 14, 2024 for details).

PWC is in Lander County, Nevada and consists of approximately 27.8 km² in the heart of the significant gold producing Cortez District (Battle Mountain - Eureka Trend). Kinross is funding and operating PWC and has a strategic 9.9% (on a partially diluted basis) equity interest in the Company acquired through a private placement. About PWC: PWC constitutes a very prospective exploration property for Carlin-type, disseminated and replacement gold deposits.

PWC consists of a land package totaling approximately 27.8 km² of unpatented mining claims and patented fee lands adjoining NGM. PWC is situated along the Cortez Structural Zone of the exceptionally productive Cortez Trend within the Battle Mountain - Eureka Trend in north central Nevada (Figure 2). The Cortez and Pipeline complexes (adjoining Riley Gold's PWC boundary) are top producers within Nevada, a State that consistently produced between 4-5 million ounces of gold a year.

Figure 2: PWC Location (project boundary approximate) To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10015/305042_6b763eed145349ed_003full.jpg Qualified Person Matthew Dumula, P. Eng. is an independent contractor and a 'qualified person', as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. About Riley Gold Corp. Riley Gold is an exploration and development company focused in Nevada, USA, with the Pipeline West/Clipper Gold Project located in the Battle Mountain Eureka Trend (within the Cortez District). Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.

FOR FURTHER INFORMATION, PLEASE CONTACT: Todd Hilditch Chief Executive Officer Tel: (604) 443-3831 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  http://www.sedarplus.ca/ Cautionary statement regarding forward-looking information. This press release contains statements which constitute "forward looking information" under applicable Canadian securities laws, including statements regarding plans, intentions, beliefs and current expectations of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking information.

Although Riley Gold believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Riley Gold can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties and the Company's future business activities may differ materially from those in the forward-looking information as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions and the ability to obtain the requisite approvals of the TSX Venture Exchange when necessary. Investors are cautioned that any such forward-looking information is not a guarantee of future business activities and involves risks and uncertainties.

Additional information on these and other factors that could affect Riley Gold operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website ( www.sedarplus.ca ).There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305042 Newsfile Corp. July 14, 2026 - 4:30 AM PDT News by QuoteMedia www.quotemedia.com