Mr. Richard Ginn reports

COMPLETION OF INITIAL PUBLIC OFFERING AND LISTING ON THE CSE

Copper Ridge Exploration Inc. has completed its initial public offering IPO) of 5,171,000 common shares of the company at a price of 10 cents per common share for gross proceeds of $517,100. The total number of common shares issued pursuant to the IPO include an additional 671,000 common shares from the overallotment option granted to the agent (as defined below), for additional gross proceeds of $67,100.

Pursuant to the agency agreement dated March 15, 2022, between Research Capital Corp. and the company, the agent has been paid a cash commission in the amount of $51,710, representing 10.0 per cent of the gross proceeds from the sale of the common shares pursuant to the IPO, together with a cash corporate finance fee in addition to reimbursement of certain expenses. Additionally, the company has granted compensation options to the agent and its subagents, entitling the holder thereof to purchase up to an aggregate of 517,100 common shares at an exercise price of 10 cents per common share, exercisable on or before June 13, 2024. Following the closing of the IPO, the company has 16,671,000 common shares issued and outstanding. The company's common shares are listed on the Canadian Securities Exchange and will begin trading on the CSE under the symbol COP on Tuesday, June 14, 2022.

The net proceeds from the IPO will be used for working capital and to carry out exploration of the company's Solitude Lake property.

The company is engaged in acquisition, exploration and development of mineral property assets in Canada. The company's sole property is the Solitude Lake property, located near the Savant Lake area of the Patricia mining division in Ontario. The company's objective is to conduct its exploration program on its Solitude Lake property, located near the Savant Lake area of the Patricia mining division in Ontario, and to locate and develop other economic precious and base metal properties of merit. The Solitude Lake property is located in the Thunder Bay district in Northwestern Ontario, two kilometres west of Highway 599, which runs north-south from Ignace to Pickle Lake in Ontario. The property is about 165 kilometres north of Ignace and 100 kilometres south of Pickle Lake.

For more information, please refer to the company's prospectus dated March 15, 2022, available on SEDAR, under the company's profile.