Riverside Resources Inc. has entered into a five-year option agreement with 1575540 B.C. Ltd. allowing the private company to acquire a 100% interest in the Revel carbonatite rare earth element project in southeastern British Columbia. Under the terms of the agreement, the optionee will provide aggregate cash payments of $450,000 and fund up to $2,200,000 in exploration expenditures.

The deal requires an initial cash payment of $40,000 upon signing and a firm commitment of $150,000 in exploration spending by the first anniversary of the February 18, 2026 effective date. Subsequent cash payments and exploration outlays scale across a five-year milestone schedule. If the option is fully exercised, Riverside will retain a 3% net smelter returns royalty on commercial production. The royalty agreement includes two buy-down rights: a first right to purchase 0.5% of the royalty for US$1,000,000 prior to January 1, 2033, and a second right to purchase an additional 1.0% for US$2,000,000 prior to January 1, 2035. If the option is not completed, 100% of the project returns to Riverside.

When Riverside originally acquired the property in October 2023 by staking 2,538 hectares mapped by the British Columbia Geological Survey, it held a 100% interest with no underlying royalties or encumbrances. Prior to executing the current agreement, the company expanded its land position at Revel by 30% in August 2026 to capture additional geological targets along strike from known mineralization within the 12-kilometre-long carbonatite-style rare earth system.

“Securing this option agreement for Revel is an excellent step forward for Riverside’s REE portfolio and we can immediately move forward with a high resolution geophysical survey of the project with partner funding to refine and expand the targets,” said John-Mark Staude, President and CEO of Riverside Resources. “The agreement brings dedicated funding to advance the 12-kilometre-long Revel carbonatite REE system while allowing our team to remain involved in the program and building value across our broader portfolio of British Columbia and Mexico projects. By retaining a 3% NSR, Riverside preserves meaningful long-term exposure to the discovery and development potential of the Revel Project.”

— John-Mark Staude, President and CEO

Riverside’s exploration team will continue to provide technical input and oversight during the option period as funded programs advance the property toward drill testing, with airborne geophysics and field exploration work planned during the summer of 2026.

Read the full announcement: Riverside Resources Executes Option Agreement for the Revel Carbonatite Rare Earth Element Project, British Columbia