Mr. Blaine Monaghan reports

PACIFIC RIDGE CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT

Pacific Ridge Exploration Ltd. has closed its oversubscribed non-brokered private placement by issuing 3,672,667 units at a price of 18 cents per unit for aggregate gross proceeds to the company of $661,080.06. Each unit consists of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to purchase one common share of the company at a price of 27 cents at any time on or before Sept. 28, 2025. The securities are subject to a hold period ending on Jan. 29, 2024.

Proceeds from the sale of units will be used for general working capital. In connection with the offering, Pacific Ridge paid finders' fees totalling $16,864.79. The offering and payment of finders' fees are subject to TSX Venture Exchange acceptance.

About Pacific Ridge Exploration Ltd.

Its goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's flagship asset is its 100-per-cent-owned Kliyul copper-gold project, located in the Quesnel terrane close to existing infrastructure. In addition to Kliyul, the company's project portfolio includes the RDP copper-gold project (optioned to Antofagasta Minerals SA), the Chuchi copper-gold project, the Onjo copper-gold project and the Redton copper-gold project, all located in British Columbia. Pacific Ridge would like to acknowledge that its B.C. projects are located in the traditional, ancestral and unceded territories of the Gitxsan Nation, McLeod Lake Indian Band, Nak'azdli Whut'en, Takla Nation and Tsay Keh Dene Nation.

We seek Safe Harbor.