12:57 PM EDT, 07/29/2025 (MT Newswires) -- Rockridge Resources (ROCK.V) on Tuesday said it signed an option agreement to acquire a property bordering one of its core high-grade gold assets.

Under the terms of the binding option deal, the company can earn 100% ownership of the 6,902 hectare property which sits adjacent to its Greywacke Gold Project in Saskatchewan's La Ronge Gold Belt. Rockridge will pay the current owner $40,000 in cash, $50,000 in shares and incur $200,000 in exploration expenses over four years to acquire full ownership.

"To execute on this, Trident is well-funded with over $11M in its treasury now consisting of cash and cash-equivalent assets. Over the next few months, the company will focus on its exploration work which includes drilling at Contact Lake to confirm the high-grade potential resources left behind by the former owner and testing the extension of the trend both along strike and at depth," chief executive Jonathan Wiesblatt said.

The company's shares were last seen down $0.02 to $0.68 on the TSX Venture Exchange.

Price: 0.68, Change: -0.02, Percent Change: -2.86