Ridgestone Mining — Capital/Financing Update 2021

Apr 26, 2021

TSX.V: RMI OTCQB: RIGMF FRA: 4U5

RIDGESTONE MINING PROVIDES TRADING ACTIVITY UPDATE

VANCOUVER, BC / April 26, 2021 / Ridgestone Mining Inc. ( TSX.V: RMI ) ( OTCQB: RIGMF ) ( FRA:4U5 ) (" Ridgestone ") announces that it has been made aware and requested by the OTC Markets Group to comment on recent trading and promotional activity concerning RIGMF’s common shares. The Company became aware of the promotional activities on April 21, 2021 when the OTC Markets brought it to the Company’s attention. The Company was advised that this promotional activity coincided with higherthan-average trading volume in the Company's stock. The source of the promotional activity appears to be coverage of the Company by Market Tactic that discusses Ridgestone and the copper industry.

The Company recently hired Think Ink Creative Digital Marketing (Online Media). Think Ink leverages leading-edge technologies to steer traffic to clients’ web properties, drive inquiries, and collect metrics regarding engagement with content. Services provided by Think Ink include SEM (search engine marketing), search retargeting, email campaigns, and social media optimization (e.g., using tactics such as geofencing). Think Ink is to be paid a flat fee of CAD $157,800 plus applicable taxes for a three-month term. It has been brought to the Company’s attention that Think Ink provided funding to Market Tactic for their coverage of the Company. As a result, the Company indirectly funded the article, however the Company was unaware of the article and had no editorial control over its content.

The Company feels that while the statements made in the marketing materials that have been brought to the Company’s attention were arguably promotional, they were in fact accurate statements based upon the Company’s previously filed and disclosed information.

The Company's recent press releases have reported on, and provided disclosure of legitimate and ongoing corporate activity only, and are not part of any promotional activities or campaign. Our operations are in the exploration stage. As an exploration stage enterprise, our focus must remain on developing our property interests to establish a commercially viable resource. This is where our attention and funds will remain focused. The Company encourages those interested in the Company to rely solely on information included in its press releases combined with its SEDAR filings, and disclosures made with OTC Markets Group. In addition, we strongly urge any prospective investors to obtain advice from a qualified investment professional prior to making any investment in our Company.

The Company made direct inquiries with its officers, directors, third party service providers and controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) and has confirmed that none of these parties have sold or purchased the Company’s securities in the past 90 days.

The following is a list of the third-party investor relations, marketing or related service providers engaged in the last 12 months, including each entity engaged during this period, the date they were engaged and a summary of services provided.

• The Company recently retained Think Ink Creative Digital Marketing (Online Media) as described above.

• On April 1, 2020, Ridgestone engaged MarketSmart Communications Inc. ("MarketSmart"), a Vancouver based corporate communications company. MarketSmart developed and implemented

RIDGESTONE MINING INC. info@ridgestonemining.com 503 – 905 West Pender Street, Vancouver, BC V6C 1L6 www.ridgestonemining.com

TSX.V: RMI OTCQB: RIGMF FRA: 4U5

a strategic corporate communications program to increase visibility and exposure for Ridgestone across Canada. MarketSmart had been paid $6,000 per month. The Market Smart contract was terminated at the end of July of 2020.

Pursuant to private placements through the facilities of the TSX Venture Exchange, the Company has issued the following shares and warrants in certain tranches that closed in January and February of 2021. The shares were issued at discount to market pursuant to private placement pricing policies of the TSX Venture Exchange and all securities issued were restricted and subject to statutory hold periods. The warrant exercise prices were at a premium to the market price at the time of grant and as such were not discounted:

• On January 15, 2021, Ridgestone closed the first tranche (the "First Tranche") of the non-brokered private placement and issued a total of 24,100,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $1,205,000. Each Unit in the First Tranche of the Private Placement consisted of one common share (each, a "Share") and one-half of one transferrable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitled the holder to purchase one additional common share of Ridgestone at a price of $0.075 per share for a period of one year from the date of issuance.

• On January 26, 2021, Ridgestone closed the remaining portion of the $0.05 per unit portion (the "$0.05/Unit Tranche") of the non-brokered private placement. Ridgestone issued a total of 13,900,000 Units at a price of $0.05 per Unit for gross proceeds of $695,000. Each Unit in the $0.05/Unit Tranche of the private placement consisted one Share and one-half of one Warrant. Each Warrant entitles the holder to purchase one additional common share of Ridgestone at a price of $0.075 per share for a period of one year from the date of issuance.

• On February 1, 2021, Ridgestone closed the $0.07 per unit portion (the "$0.07/Unit Tranche") of the non-brokered private placement. Ridgestone issued a total of 6,000,000 Units at a price of $0.07 per Unit for gross proceeds of $420,000. Combined with the two initial tranches, the private placement was completed for an aggregate issuance of 44,000,000 Units and gross proceeds of $2,320,000. Each Unit in the $0.07/Unit Tranche of the private placement consisted of one Share and one-half of one transferrable Warrant. Each Warrant entitled the holder to purchase one additional common share of Ridgestone at a price of $0.10 per share for a period of one year from the date of issuance.

The Company confirms that it has not issued convertible securities allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.

About Ridgestone Mining Inc.

Ridgestone is a Canadian mineral exploration company focused on its Guadalupe y Calvo (gold/silver) and Rebeico (copper/gold) projects located in Mexico.

For further information, please contact: Rad Rajaram – Manager Corporate Relations and Business Development Telephone: 416-732-0604

Email: radha@ridgestonemining.com

RIDGESTONE MINING INC. info@ridgestonemining.com 503 – 905 West Pender Street, Vancouver, BC V6C 1L6 www.ridgestonemining.com

TSX.V: RMI OTCQB: RIGMF FRA: 4U5

This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to any ongoing drilling programs, timing of such programs, or exploration results. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forwardlooking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forwardlooking statements, including those described in the Company's regulatory filings available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

Neither 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.

RIDGESTONE MINING INC. info@ridgestonemining.com 503 – 905 West Pender Street, Vancouver, BC V6C 1L6 www.ridgestonemining.com