Dr. Gerald Carlson reports

PACIFIC RIDGE RECEIVES $US500,000 FROM SANDSTORM GOLD FOR ROYALTY PACKAGE

Pacific Ridge Exploration Ltd. has received a payment of $500,000 (U.S.) from Sandstorm Gold Ltd. in consideration for the sale of a selected package of mineral royalties. This royalty package includes a 1.65-per-cent net smelter return (NSR) held by the company on the Spectrum gold property, located in northwestern British Columbia and owned by Skeena Resources Ltd., and a 1-per-cent NSR on Pacific Ridge's Eureka Dome and Gold Cap properties, located in Yukon's White Gold district. Also as part of the package, Pacific Ridge will transfer to Sandstorm its right to buy down royalties on its Mariposa and Sophie properties.

These transactions provide an immediate and non-dilutive means for Pacific Ridge to strengthen its treasury. The proceeds will be added to the company's working capital, and will be utilized for the evaluation and possible acquisition of new mineral project opportunities.

The company also announces that it is terminating its option on the King Solomon and Polar-Stewart properties.

The technical information contained within this news release has been reviewed and approved by Gerald G. Carlson, PhD, PEng, president and chief executive officer of Pacific Ridge, and a qualified person as defined by National Instrument 43-101 policy.

We seek Safe Harbor.