Rio Grande Resources is a gold and silver exploration company with a single project, Winston, in Sierra County, New Mexico. The property runs to more than 3,000 acres across 149 mining claims in the Chloride Mining District of the Black Range Mountains, and takes in three historic past-producing mines: Ivanhoe, Emporia and Little Granite. All three produced high-grade gold and silver more than a century ago, and the ground has seen little modern exploration since the early 1980s.
Shares trade on the Canadian Securities Exchange under RGR and on the OTCQB in the United States under RGRLF. Odyssey Trust Company is the transfer agent, and the head office is at 250 to 750 West Pender Street in Vancouver.
Rio Grande was incorporated in July 2024 and began trading on January 31, 2025, after Foremost Clean Energy Ltd. spun the Winston gold and silver property out through a Plan of Arrangement. Foremost shareholders received two Rio Grande shares for every Foremost share they held, and Foremost itself retained roughly 19.95% of the new company, making it the largest single shareholder at the time. Rio Grande has operated as a standalone issuer since.
Winston is the company’s only project and covers the whole portfolio. It sits about 45 miles northwest of Truth or Consequences, New Mexico, and consists of 147 unpatented lode claims plus two patented claims at Ivanhoe and Emporia, 149 in total. Rio Grande controls a 100% interest subject to certain underlying royalties. The property is described as drill-ready, with targets defined on both patented and unpatented ground. Detail at https://riogranderesources.ca/the-winston-project/
Surface work has returned high-grade gold and silver from four separate areas. The best results by area are 66.2 g/t gold with 830 g/t silver along the Paymaster Corridor, announced June 18, 2025, then 41.2 g/t gold with 1,435 g/t silver at Poverty Creek, 46.1 g/t gold with 517 g/t silver at Emporia, and 26.8 g/t gold with 1,670 g/t silver at Little Granite, all announced February 19, 2026. The June 2025 program also traced roughly 1.5 kilometres of continuous mineralization along the Paymaster Fault Corridor and picked up several mineralized structures that had never been documented.
Not yet. Work to date has been surface sampling, geological mapping, structural analysis, historical data compilation and airborne geophysics, carried out with Dahrouge Geological Consulting Ltd., which was engaged in November 2025. That programme is designed to prioritise targets for a Phase 1 drill program, which has not started. The high-grade numbers reported so far come from surface and dump samples, not from drill core.
No. There is no mineral resource at Winston that complies with NI 43-101, and the company states plainly that historical reports of resources, reserves, grades, tonnages, widths and lengths do not meet NI 43-101 standards and should not be relied upon. Figures published for the Emporia and Ivanhoe exploration target come from studies between 1944 and 1989 and span an enormous range, from roughly 8,700 tons to 350,000 tons at widely varying grades, which is itself a signal of how little is settled. They are conceptual. There has been insufficient exploration to define a resource, and it is not certain that further work will produce one.
Mineralization at Winston is low-sulfidation epithermal, hosted in quartz and carbonate veins within altered volcanic rocks and formed close to surface. The style is well documented globally and is the same one behind several of the highest-grade gold-silver mines in the world, including Hishikari in Japan, Fruta del Norte in Ecuador and Midas in Nevada. Field programs have logged the textures that typically go with a productive system of this kind, including bladed quartz, drusy and comb quartz, amethyst, colloform banding and vuggy textures.
Little Granite is a past-producing high-grade gold and silver mine on four lode claims within the Winston block. Its main vein has been traced for more than 200 metres through past drilling and underground workings and remains open along strike to both north and south, and at depth. Historic reports suggest the vein widens to roughly 3 metres at depth. The precious metal horizon comes within a few hundred feet of surface, copper is present within it, and elevated lead and zinc are expected beneath the prospective zone. More at https://riogranderesources.ca/the-little-granite/
Ivanhoe and Emporia are past-producing gold-silver mines on two patented lode claims, meaning the land and its resources are privately held rather than federally owned. Rio Grande holds an option to earn a 100% interest in both. The main shaft reaches 384 feet with a 370-foot decline, and there is potential for larger tonnages of lower-grade stockwork surrounding the high-grade veins that were historically mined. Soil geochemistry and geophysical anomalies have been defined for follow-up along the bends and jogs of the Paymaster Fault. See https://riogranderesources.ca/ivanhoe-emporia/
The Paymaster Fault is a 25 kilometre structural trend and the most significant geological feature associated with the historical gold-silver vein deposits in the district. Bends and jogs along a fault like this create the pathways where hydrothermal fluid can move and precious metals can drop out, which is why the corridor is a focus for targeting. Mapping through 2025 and 2026 increasingly supports reading Winston as one connected district-scale system rather than a set of isolated veins.
New Mexico offers an established mining workforce and a permitting process the company describes as transparent. The Chloride district produced from 1880 until the silver crash of the 1890s, and mining stopped because prices fell, not because the mineralization ran out.
Jason Barnard is Chief Executive Officer and has raised close to $500 million in equity for mining and exploration companies across his career. Christina Barnard is President and ran the Plan of Arrangement that created Rio Grande as a standalone issuer. Curt Bouwman is Chief Financial Officer. Lindsay Bottomer, P.Geo., advises on geoscience with more than 45 years in exploration, and conducted the initial Winston site visit that flagged the camp’s potential. Both Jason and Christina Barnard also hold senior roles at Foremost Clean Energy, which remains a significant shareholder. Biographies at https://riogranderesources.ca/management-and-directors/
The company points to a strong precious metals market as the reason its timing works. It cites gold passing an all-time high above US$5,500 an ounce in January 2026 and silver reaching a record US$121 an ounce in the same month. Holding both metals gives leverage to each. Market figures move quickly, so treat any price quoted on the website as a snapshot of when it was written rather than a current quote.
A Phase 1 drill program is the next milestone. The Phase 2 surface program announced on May 21, 2026 collected 75 rock chip samples and 5 channel samples, 91 individual samples in total, along with 307 new structural data points, all aimed at narrowing down where to drill first. Integrating that with historical records, geophysics and mapping is what the company is using to rank targets.
Financial statements sit in the Investors section and news releases have their own page. As a Canadian Securities Exchange issuer, Rio Grande files its continuous disclosure on SEDAR+. Davidson and Company audits the accounts. Stikeman Elliott acts as Canadian counsel and Dorsey & Whitney as United States counsel.