VANCOUVER, BC / ACCESS Newswire / April 7, 2025 / Rio Grande Resources Ltd. (CSE:RGR)(OTC PINK:RGRLF) ("Rio Grande" or "RIO" the "Company"), is pleased to announce it has successfully completed its exploration and sampling program conducted at the Winston Gold-Silver Project ("Winston" or the "Project") located the Black Range Mountains of Sierra County, New Mexico. The recent field campaign, conducted from March 24-28, 2025, collected 57 samples to be analyzed, and further, provides promising geological insights to advance the Company's understanding of the high-grade epithermal vein system.
Exploration Highlights:
Mineralized shoots were identified along bends in vein strike and are associated with ginguro banded vein phases containing dark gray sulphosalts and chalcopyrite, indicative of high-grade precious metal potential. This mineralization style is shown to be associated with economic gold and silver grades, particularly in epithermal or transitional vein systems. The presence of sulphosalts strongly suggests significant silver enrichment, while ginguro textures point to episodic high-grade deposition.
Surface mapping confirmed continuous vein strike lengths of several hundred meters to over 1 kilometer, with evidence that the precious metal horizon remains intact at depth despite post-mineral fault offsets.
A 3D geological model is under development, integrating quartz textures, mineral paragenesis, alteration, and geochemistry to target the precious metal horizon of the vein system.
Jason Barnard, President and CEO of Rio Grande, comments: "The findings from our March field program at the Winston Project underscore the exceptional potential of this district. The continuity of high-grade vein structures, combined with the geological indicators of preserved mineralization at depth, reinforces our confidence in the Project's ability to host significant gold-silver resources. Our team is now focused on integrating these results into a robust 3D model to guide our next phase of exploration, including the prospect of future targeted drilling. With gold and silver markets remaining strong, we are committed to advancing Winston strategically and efficiently to unlock value for our shareholders."
Figure1. Project Sampling Map; Recent Locations are Indicated by Yellow Triangles
Dr. Michael Feinstein, PhD, CPG, the Company's Qualified Person, notes: "The Winston Project exhibits classic low-to-intermediate sulfidation epithermal vein characteristics. Mineralization is controlled by structural complexities such as vein bends, dilation zones, and through a depth transition into the precious metal horizon, indicated by the development of sulphide-rich banding, sulphide breccias, and elevated metals content. The preservation of high-level quartz textures and the strike continuity of veins at surface suggest robust potential for ore-grade material at depth. Our ongoing work aims to refine drill targets based upon geochemistry, quartz textures, and alteration vectoring in combination with a structural reconstruction to pre-fault vein geometry.
Next Steps
The Company has submitted all 57 samples from the March program to ALS Global Laboratories for gold (fire assay) and multi-element (ICP-MS) analysis, with results expected to be released in the coming weeks. These assays, combined with ongoing 3D modeling, will focus on the Paymaster Fault Zone and associated veins, which will form the foundation for drill targeting and be used to prioritize follow-up sampling programs for the next phase of exploration.
Consulting Agreements
Rio Grande would like to announce that it has entered into two arms' length business and consulting service agreements. The first consulting agreement (the "First Agreement"), dated April 3, 2025, is for geological advisory services over a six-month term. The services include geological data processing and assay analysis, software mapping and modelling, administrative tasks including documentation review and preparation. The fee for these services is $3,750 USD per quarter in arrears, payable in common shares of the Company at a price per share equal to the 3-day VWAP on the day prior to issuance.
Further, the Company would like to also announce it has entered into a second consulting agreement (the "Second Agreement"), dated April 7, 2025, which includes business, operational, and financial advisory services over a 12-month term. The fee for these services is $12,500 CND per month, payable quarterly in arrears in cash or common shares at the sole election of Company. If the Company elects to pay in common shares, the number of common shares issued will be calculated equal to the 3-day VWAP on the day prior to issuance. Pursuant to Second Agreement, The Company has also granted 833,333 Restricted Share Units (the "RSUs") valued at $0.06 per RSU valued at $50,000 in accordance with the Company's Omnibus Long-Term Incentive Plan (the "Plan") dated December 20, 2024, and the policies of the Canadian Securities Exchange ("CSE"). The RSUs shall vest on the date that is twelve (12) months from the date of grant.
All share issuances are subject to a four-month and one day statutory hold period and final approval by the CSE.
Qualified Person
Technical information in this news release has been reviewed and approved by Michael Feinstein, PhD, CPG, who is a Qualified Person as identified by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Rio Grande Resources
Rio Grande Resources (CSE:RGR) is a burgeoning mineral exploration company focused on unlocking the high-grade gold and silver potential within its 3,000-acre drill-ready property in the Black Range of Sierra County, New Mexico. The company holds 100% interest in the Winston project group, which includes the 2 patented historic Ivanhoe & Emporia Claims, and Little Granite mines, all known for their past production of high-grade precious metals. Rio Grande Resources is led by a team of experienced professionals with expertise in mineral exploration and development, who are targeting large-scale precious metal discoveries within the property's well-documented low-sulfidation epithermal setting. To view the company fact sheet and corporate presentation please visit our website at www.riogranderesources.ca
Except for the statements of historical fact contained herein, the information presented in this news release and oral statements made from time to time by representatives of the Company are or may constitute "forward-looking statements" as such term is used in applicable United States and Canadian laws and including, without limitation, within the meaning of the Private Securities Litigation Reform Act of 1995, for which the Company claims the protection of the safe harbor for forward looking statements. Such forward-looking statements and forward-looking information include, but are not limited CSE and the proposed benefits of the Arrangement. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect," "is expected," "anticipates" or "does not anticipate," "plans," "estimates" or "intends," or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, continuity of agreements with third parties, the satisfaction of the conditions to the Arrangement, risks and uncertainties associated with the environment and delays in obtaining governmental approvals, permits or financing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings on SEDAR+. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities. Please refer to the Company's most recent filings under its profile at on SEDAR+ at www.sedarplus.ca for further information respecting the risks affecting the Company and its business.
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