Vancouver, British Columbia--(Newsfile Corp. - August 5, 2026) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") announces that it has acquired an additional 5,000,000 common shares (the "Second Tranche Shares") of Spartan Metals Corp. (formerly Midasco Capital Corp.) ("Spartan Metals") pursuant to the terms of a share purchase agreement dated June 2, 2025 (the "Agreement") among Midasco Capital Corp. (now Spartan Metals Corp.), Ridgeline, Spartan Exploration Nevada Corporation and Ridgeline Exploration Corporation.
The Second Tranche Shares were issued to Ridgeline on July 31, 2026, in connection with the one-year anniversary of the closing of the sale by Ridgeline to Spartan Metals of all of the issued and outstanding shares of Spartan Exploration Nevada Corporation. The Second Tranche Shares were issued for no additional cash consideration, as they form part of the purchase price under the Agreement.
Immediately prior to the acquisition of the Second Tranche Shares, Ridgeline beneficially owned and/or exercised control or direction over 5,830,466 common shares of Spartan Metals, of which 600,000 common shares had been sold prior to the date of this news release (see News Release of July 14, 2026), resulting in holdings of 5,230,466 common shares. Following completion of the acquisition of the Second Tranche Shares, Ridgeline beneficially owns and/or exercises control or direction over an aggregate of 10,230,466 common shares of Spartan Metals, representing approximately 17.3% of the issued and outstanding common shares of Spartan Metals on a non-diluted basis.
Ridgeline acquired the Second Tranche Shares for investment purposes. Ridgeline may, from time to time, acquire additional securities of Spartan Metals or dispose of some or all of the securities of Spartan Metals that it holds, in the open market, by private agreement or otherwise, depending on market conditions and other factors relevant to Ridgeline's investment decisions, and subject to applicable securities laws.
An early warning report in respect of this acquisition will be filed under Spartan Metals' profile on SEDAR+ at www.sedarplus.ca. A copy of the early warning report may be obtained by contacting Ridgeline at the contact information set out below.
Spartan Metals' head office is located at:
202 - 3310 Carrington Road
West Kelowna, BC V4T 0G6
This news release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. The early warning report in respect of the Acquisition has been filed on SEDAR+ (www.sedarplus.ca) under Spartan's issuer profile. To obtain a copy of the early warning report filed by Ridgeline, please contact Chad Peters, P.Geo., President and CEO of Ridgeline at +1 775 304 9773 or refer to SEDAR+ (www.sedarplus.ca) under Ridgeline's issuer profile.
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal hybrid explorer with a proven management team and a track record of discovery in Nevada. The Company is fully financed and controls a 97km2 exploration portfolio across three highly prospective projects in Nevada, USA. Ridgeline's hybrid exploration model includes a US$20 million earn-in agreement with South32 Limited at the Company's flagship Selena CRD discovery as well as a mix of 100%-owned exploration assets (Big Blue & Coyote), royalties and marketable securities. More information about Ridgeline can be found at www.ridgelineminerals.com
On behalf of the Board
"Chad Peters"
President & CEO
Further Information:
Chad Peters, P.Geo.
President, CEO & Director Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308321
Source: Ridgeline Minerals Corp.
