Golden Ridge Resources Ltd. announced commencement of a 2,500 station, till geochemistry program at the Heritage Project ("Heritage" or "the Property"), located within the underexplored Burin Peninsula Epithermal Gold/Silver Belt in southern Newfoundland. Several high- and low-sulphidation epithermal systems have been identified throughout the Burin Peninsula Epithermal Belt. Gold and silver mineralization within the Heritage Project area was first discovered in 2010 and early outcrop and float samples returned assays of up to 117 g/t gold in one sample, and 72 g/t gold and 1,168 g/t silver in another.2 Exploration since 2010 has resulted in the discovery of numerous additional mineralized showings throughout the 22,875-ha Heritage Project area, including the Eagle Zone, 500m in strike length, within the Point May Epithermal System.

In 2020 Golden Ridge completed 5,182m of drilling on Property, focused on the Eagle, Turpin, and Pinnacle Zones (all within the Point May Epithermal System) with broad and narrow mineralized intersections including 305 metres of 21.2 g/t Ag and 0.3 g/t Au and 3.36 metres of 202.33 g/t Ag and 4.59 g/t Au. The 2022 till geochemistry program will focus on and around previously identified geophysical and geochemical anomalies with the specific purpose of expanding the Eagle, Turpin, and Pinnacle Zones along strike, as well as generating additional targets. The program will be guided by the results of the 2020 high-resolution airborne magnetic survey, which proved highly effective due to the low topographic relief in defining potential geophysical anomalies.

Phase 1: 1,200 stations across two separate 200m x 25m grids centered on the Point May Epithermal System and the Peter's Brook Showing to establish more clearly the full strike length of the known mineralized zones. Phase 2: 1,000 stations on a coarser 400m x 50m grid over the underexplored portions of the Heritage Project area. Earlier prospecting and mapping located gold mineralization; however, this portion of the property lacks systematic geochemical coverage.

Phase 3: 300 stations on a 200m x 25m grid focusing on the Eagle's Claw showing of the Heritage Project. Historic rock samples in the area have yielded up to 4.0 g/t Au, however the Eagle's Claw area lacks systematic mapping, prospecting, and till-sampling coverage.