Golden Ridge Resources Commences Exploration at the Williams Gold Property, Located within New Found Gold Corp's Queensway South Gold Project

Golden Ridge Resources Commences Exploration at the Williams Gold Property, Located within New Found Gold Corp’s Queensway South Gold Project

Kelowna, British Columbia – TheNewswire - July 14, 2021 - Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV:GLDN) (OTC:GORIF) is pleased to announce its field crews have arrived on site and commenced the 2021 field program on the Williams Gold Property (“Williams” or “The Property”), located within New Found Gold Corp’s Queensway South Gold Project in the province of Newfoundland and Labrador (Figure 1).1

The first phase of the 2021 program will focus on prospecting, mapping and delineating precise trenching/channeling locations. Upon completion of this work the Company will immediately commence mechanized trenching and channel sampling. The program will target areas of interest identified by Golden Ridge’s successful 2020 geochemistry and prospecting program (Figure 2, see news release dated October 26, 2020).

The regionally important northeast-southwest trending Appleton Fault, which is associated with New Found Gold Corp’s Keats Main Zone discovery, strategically transects the middle of the Williams Property. Golden Ridge continues to be extremely encouraged by the recent drilling results from New Found Gold Corp’s Queensway Gold project located within the Central Newfoundland Gold Belt.

Highlights of the 2020 Williams Exploration Program

Newly discovered 2.4 kilometre long gold-in-soil anomaly spanning the southeastern margin of the Property with gold-in-soil values ranging up to 609ppb Au with 12 samples assaying over 50ppb Au (Figure 2). The anomaly remains open to the northeast and southwest and trends directly onto New Found Gold Corp’s Queensway South Gold Project.

A total of 56 rock samples were collected with results ranging from no significant values up to 44.2 g/t Au, with 7 samples exceeding 10 g/t Au and 14 samples exceeding 1 g/t Au (Figure 2). 2 Rock sampling also led to the discovery of a new polymetallic zone (“EQ Zone”) where two samples ran 362.1g/t Ag, 1.1g/t Au, 10.6% Pb, 2.6% Zn and 225.6g/t Ag, 2.9g/t Au, 6.0% Pb, 1.3% Zn.

3 kilometre long arsenic and antimony anomaly coincident with the gold-in-soil anomaly with arsenic values up to 960ppm and antimony values up to 28ppm.

“We are extremely excited to commence exploration at the Williams this year. With the Beaver Brook antimony mine in view to the west and the Appleton Fault traversing the Property at our boots, there is no question this is a Tier One exploration project that happens to be relatively unexplored.” stated Golden Ridge CEO, Michael Blady. “We would also like to thank Mr. Eric Sprott for his recent financing support and our partners in Newfoundland including, but not limited to, the Department of Industry, Energy and Technology, Government of Newfoundland and Labrador.”

1This news release contains information about adjacent properties on which Golden Ridge has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties

2 The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property.

Stock option grant

Golden Ridge has also granted options to purchase 2,100,000 shares of Golden Ridge to its directors, officers, and consultants. The options are exercisable at 32 cents per share for a period of five years from the date of grant.

Qualified Person:

Dr. Stephen Amor, PhD, PGeo, technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

Acknowledgments:

Golden Ridge Resources acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

About Golden Ridge Resources:

Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The Company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000-hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.

Golden Ridge Resources Ltd.

Mike Blady

Chief Executive Officer

Tel: (250) 768-1168

Website: www.goldenridgeresources.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Golden Ridge Resources Completes $1,450,000 Financing; Eric Sprott Acquires 5 Million Units

July 8, 2021 – TheNewswire - GOLDEN RIDGE RESOURCES LTD. (TSXV:GLDN) (“Golden Ridge” or the “Company”) has completed the previously announced financing (see new release of June 25, 2021) wherein the Company has issued today 5,370,370 units (the “Units”) at a price of $0.27 for gross proceeds of $1,450,000 (the “Offering”).

Each Unit consists of one common share and one-half of one common share purchase warrant (each whole warrant at “Warrant”) of Company. Each Warrant entitles the subscriber to purchase one additional common share for at an exercise price of $0.50 per common share until July 8, 2023.

Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation that is beneficially owned by him, acquired 5,000,000 Units for total consideration of $1,350,000. Prior to the Offering Mr. Sprott beneficially owned or controlled 6,000,000 common shares and 3,000,000 warrants of the Company. As a result of the current Offering, Mr. Sprott beneficially owns or controls 11,000,000 common shares of the Company and 5,500,000 warrants collectively (the “Sprott Warrants”), representing approximately 19.6% of the issued and outstanding common shares of the Company on a non-diluted basis and approximately 26.8% of the issued and outstanding common shares of the Company on a partially diluted basis, assuming the exercise of the Sprott Warrants.

The Units were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Golden Ridge, including on the open market or through private acquisitions, or sell securities of the company, including on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other factors that Mr. Sprott considers relevant from time to time.

A copy of Mr. Sprott’s early-warning report will be filed under Golden Ridge’s profile on SEDAR and may also be obtained by calling Mr. Sprott’s office at 416-945-3294 (200 Bay St., Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

Mr. Sprott has provided an undertaking not to exercise the Sprott Warrants (if doing so would result in his non-diluted ownership interest exceeding 20%) until the Company has obtained such shareholder approval at the Company’s next annual general meeting to be held on or before December 18, 2021.

Mr. Sprott is an insider of the Company and as such his participation in the Offering is considered a related party transaction under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSX Venture Exchange Policy 5.9 (which incorporates by reference MI 61-101). The Company is relying on exemptions from the minority shareholder approval and formal valuation requirements applicable to related party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Units to be purchased on behalf of Mr. Sprott nor the consideration to be paid by him exceeds 25% of the Company’s market capitalization.

Proceeds raised from the Offering will be used for general working capital and to further the Company’s Newfoundland project portfolio.

All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period under applicable securities laws expiring on November 9, 2021.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Golden Ridge

Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000 hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.

ON BEHALF OF THE BOARD OF DIRECTORS OF

GOLDEN RIDGE RESOURCES LTD.

“Mike Blady”

Mike Blady

President and Chief Executive Officer

For more information regarding this news release, please contact:

Mike Blady, CEO and Director

T: 250-717.3151

W: www.goldenridgeresources.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking Information”, as such term is used in applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. There can be no assurance that the Fundamental Acquisition will be completed as proposed or at all.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Golden Ridge Resources Announces $1.45M Financing with a Strategic Investment from Eric Sprott

TheNewswire - June 25, 2021 - GOLDEN RIDGE RESOURCES LTD. (TSXV:GLDN) (“Golden Ridge” or the “Company”) is pleased to announce it intends to complete a non-brokered private placement financing for $1,450,000 (the “Offering”), including a strategic investment by Eric Sprott.

The Offering will include 5,370,370 units (each a “Unit”) at a price of $0.27 per Unit. Each Unit will comprise of one common share and one-half of one common share purchase warrant (each whole warrant at “Warrant”) of Company. Each Warrant will entitle each subscriber to purchase one additional common share for a 24-month period from the date of issuance at an exercise price of $0.50 per common share.

Proceeds raised from the Offering will be used for general working capital and to further the Company’s Newfoundland project portfolio. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

All securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period from the date of issuance under applicable securities laws.

Mr. Sprott, the subscriber in the Offering, is considered a related party of the Company under Multilateral Instrument 61-101 as a result of him owning more than 10% of the currently issued and outstanding common shares of the Company. As a result, the issuance of common shares to Mr. Sprott, pursuant to the Offering, will be considered a related party transaction. The Company will be relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of Multilateral Instrument 61-101 on the basis that participation in the Offering by Mr. Sprott does not exceed 25% of the fair market value of the Company’s market capitalization.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Golden Ridge

Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000 hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia and has a portfolio of exploration projects in Newfoundland.

ON BEHALF OF THE BOARD OF DIRECTORS OF

GOLDEN RIDGE RESOURCES LTD.

“Mike Blady”

Mike Blady

President and Chief Executive Officer

For more information regarding this news release, please contact:

Mike Blady, CEO and Director

T: 250-717.3151

W: www.goldenridgeresources.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking Information”, as such term is used in applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. There can be no assurance that the Fundamental Acquisition will be completed as proposed or at all.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES