Riversgold Ltd (ASX:RGL, FRA:RGV, OTC:RVSGF) has released a summary of activities for the quarter ended December 31, 2025, highlighting progress at its Kalgoorlie East Northern Zone Gold Project and a farm-out agreement at its Saint John copper-gold project in Canada, alongside a completed capital raise.
Kalgoorlie East – Northern Zone Gold Project, Western Australia
During the quarter, Riversgold executed a Right to Mine and Co-Operation Agreement with Western Australian Goldfields mining services provider MEGA Resources covering the Northern Zone Gold Project, located approximately 25km east of Kalgoorlie.
Under the agreement, MEGA will provide full funding for mining, haulage and operational activities, as well as geological and engineering services and management of project approvals. No upfront funding is required from the project owners, Riversgold (80%) and Oracle Power plc (20%).
Profits from operations will be shared equally between MEGA and the project owners, with 10% of monthly project profits—funded on a 50/50 basis—earmarked for reinvestment into expansion grade control and step-out drilling.
Progress toward mining approvals continued during the quarter, with the signing of a Heritage Agreement marking a key step in the conversion of the project tenure to a Mining Lease. Preparation of the Mine Development and Closure Plan (MDCP), along with associated environmental assessments, has commenced with Resource WA.
Previous drilling at Northern Zone has identified a gold-mineralised porphyry system approximately 600m wide and extending to around 500m depth from diamond drilling. Riversgold said recent drilling continues to intersect shallow gold mineralisation and expand the project’s gold footprint.
The company also expanded its landholding, acquiring 100% of granted tenement P25/2540 located around 500m north of the existing project area, and lodging an application for new tenement P25/2848 immediately to the east.
Drilling is scheduled to restart on February 10, 2026.
Saint John copper-gold-silver-antimony project, Canada
Riversgold also signed a farm-out agreement with Canadian-listed A.I.S. Resources Limited covering the Saint John Copper/Gold/Silver/Antimony Project in New Brunswick.
Under the agreement, AIS can earn up to a 75% interest, with Riversgold free-carried through to a decision to mine. On signing, Riversgold received 2,860,000 AIS shares.
To earn an initial 51% interest, AIS must spend C$400,000 on early exploration in year one and a further C$1 million on drilling in year two. To increase its interest to 75%, AIS is required to spend C$4 million across years three and four on drilling and early development activities.
Corporate
Subsequent to quarter end, Riversgold raised $2 million before costs through a placement to sophisticated investors completed in January 2026. A further $150,000 is proposed to be raised via a placement to directors and management on the same terms, subject to shareholder approval.