Drilling Commences At The PWC Gold Project

VANCOUVER - Riley Gold Corp. reported that drilling is underway at the Pipeline West/Clipper Gold Project (PWC) by Kinross Gold U.S.A., Inc., a wholly-owned subsidiary of Kinross Gold Corporation. Riley Gold entered into an exploration and venture option agreement with Kinross. The Agreement grants Kinross the right to earn up to a 75% interest in Riley Gold's PWC project 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 is funding and operating PWC and has a strategic 9.9% equity interest in the Company acquired through a private placement.

Todd Hilditch, CEO, said, “We are excited to have partnered with Kinross and to have drilling underway at PWC. Technical meetings have identified exciting targets, based on geological and geophysical data interpretation, in areas that have never been drill tested. Having a partner with a proven track record of gold production from two mines in Nevada is extremely valuable from a technical and operational standpoint. Our PWC project is within the Cortez District that has a significant history of gold production and current reserves.”