Day: March 17, 2017

“We achieved some significant milestones this quarter, largely at the expense of production results and reported earnings.” reported Robert Eadie, President of the Company. “Firstly, we moved the Altiplano Plant into operational status, thereby reporting its earning as part of Company operations, and achieved a modest positive cash flow from very low production thereby providing confidence that this operation will produce good cash flow under full capacity. Secondly, we completed the construction of the CIL plant at San Martin allowing us to process the higher grade carbonaceous ore from our mine. While we have experienced overall lower recovery and mine production as a result of issues with the initial start up of this plant, we have fully tested the CIL plant using purchased carbon and have proven that it is fully functional and operating as planned”.

Riverside Resources Inc. is pleased to announce it has closed its previously announced private placement. The placement was over-subscribed and the Company issued 6,257,367 units at a price of $0.55 per unit for gross proceeds of $3,441,552 instead of the 5,500,000 units $3,025,000 originally contemplated.