Company Announcements

VANCOUVER, British Columbia, March 12, 2024 (GLOBE NEWSWIRE) -- Ranchero Gold Corp. (“Ranchero” or the “Company”) (TSX.V:RNCH) is pleased to announce that further to its press releases on November 21, 2023 and February 26, 2024, it has closed its option agreement (the “Option Agreement”) with Recharge Resources Ltd. (“Recharge”) whereby Ranchero can earn a 100% interest in the Pinchi Lake Nickel Project (the “Pinchi Project”). For further information regarding the Option Agreement, see the Company’s press release dated November 21, 2023.

The Pinchi Project consisting of six mineral claims totaling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia. Further information on the project can be found in the National Instrument 43-101 Technical Report on the Murray Ridge (Pinchi Lake) Property dated February 8, 2024 filed on SEDAR+ (www.sedarplus.ca) under the Company’s profile.

In accordance with the Option Agreement, Ranchero has issued 835,000 common shares in the capital of Ranchero to Recharge. The common shares are subject to a four-month hold period ending on July 13, 2024 in accordance with applicable securities laws.

The Option Agreement remains subject to the final approval of the TSX Venture Exchange.

Qualified Person

Scientific and technical information in this news release has been reviewed and approved by Martyn Buttenshaw, a director of Ranchero, who is a "qualified person" as defined by National Instrument 43-101.

About Ranchero Gold

Ranchero is an exploration and development company currently focused on the Pinchi Project. Ranchero can earn a 100% interest in the Pinchi Project, consisting of six mineral claims totaling 3,917 hectares, situated approximately 15 to 30 km northwest of Fort St. James and 120 km northwest of Prince George in central British Columbia.

On behalf of the Board of Directors of the Company:

Jesus Noriega
Interim Chief Executive Officer and Director

For further information, please contact:

Jesus Noriega
Interim Chief Executive Officer and Director
52 1 (662) 437 8520
info@rancherogold.com

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.

Cautionary Note Regarding Forward Looking Statements

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), or that are not statements of historical fact, may be “forward-looking statements”. Forward-looking statements contained in this news release include, but are not limited to, statements regarding the potential exercise of the option to acquire the Pinchi Project, and the final acceptance of the TSX Venture Exchange to the Option Agreement.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties include but are not limited to: risks related to regulatory approval, including the approval of the TSX Venture Exchange and risks related to financial markets and mining companies generally. There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.