Mr. Blaine Monaghan report

PACIFIC RIDGE ALMOST DOUBLES SIZE OF KLIYUL COPPER-GOLD PROJECT

Pacific Ridge Exploration Ltd. has almost doubled the size of the Kliyul copper-gold project from approximately 52 square kilometres to approximately 92 square kilometres. The new mineral claims are contiguous and adjoin the western and southern sides of Kliyul. The project is located in the prolific Quesnel terrane in north-central British Columbia close to existing infrastructure.

Highlights:

• Size: Kliyul has almost doubled in size from approximately 52 square kilometres to approximately 92 square kilometres and now comprises 83 contiguous mineral claims.
• Targets: The claims cover a gossanous target area with a coincident 750-metre-by-500-metre aeromagnetic-high anomaly located 2.5 kilometres south of the Kliyul Main zone (KMZ) as well as other targets farther west.
• Logistics: The southeasternmost mineral claim connects to the Omineca road through forest service roads.
• Exploration: Pacific Ridge plans to undertake a ZTEM (Z-tipper electromagnetic) airborne geophysical survey over Kliyul in 2024 to better assess the claims and to further enhance drill targeting at KMZ.

"Acquiring these claims was important for several reasons," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "Yes, we have almost doubled the size of Kliyul, but, more importantly, the claims contain a number of underexplored porphyry targets, and the southeasternmost mineral claim connects to the Omineca road via forest service roads. This provides us with additional or alternative logistical options for the project."

Discussion of claims

In June, 2023, a sale-and-purchase agreement was completed for a single 160.63-hectare mineral claim located on the west side of Kliyul, south of Goldway Peak. Several polymetallic base metal and precious metal vein and gold quartz vein showings have been recorded in the British Columbia Mineral Inventory (Minfile) near this mineral claim.

Subsequently, in August, 2023, an additional sale-and-purchase agreement was completed for five claims totalling 4,074.77 hectares on the west and south sides of the project. The claims include a gossanous target zone and a 750-metre-by-500-metre aeromagnetic anomaly located 2.5 kilometres south of KMZ. This new target area lies within an eight-kilometre-long east-west to west-southwest linear cross trend of interest and is subparallel to the Valley fault trend. Furthermore, there is a pronounced six-kilometre-long geophysical linear trend, trending northwest-southeast to north-south in the Dortatelle fault area, with spatially related aeromagnetic anomalies of interest, coincident late Triassic quartz diorite plutons (similar type intrusions as associated with KMZ) mapped by the British Columbia Geological Survey and Development Branch in 2003 to 2004 and a two-kilometre-one-kilometre area of anomalous gold in soils (greater than 100 parts per billion) that was delineated by Hemlo Gold Mines Inc. in 1995 (British Columbia assessment report No. 24073). The southeasternmost mineral claim connects to the Omineca road through forest service roads and could provide additional or alternative logistical options for Kliyul.

Pacific Ridge plans to undertake a ZTEM airborne geophysical survey over Kliyul in 2024 to better assess the claims and to further enhance drill targeting at KMZ.

About Kliyul

Owned 100 per cent by Pacific Ridge, the Kliyul copper-gold project is over 90 square kilometres in size and is located in the prolific Quesnel terrane close to existing infrastructure. Kliyul hosts a number of compelling exploration targets, including the Kliyul Main zone (KMZ) which has been the company's focus since acquiring the project in 2020. Since then, Pacific Ridge has completed more than 17,500 metres of diamond drilling and has expanded the known extents of KMZ mineralization to 630 metres east-west, up to 600 metres north-south, and up to 600 metres vertical depth. KMZ remains open in every direction.

About Pacific Ridge Exploration Ltd.

The company's 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 British Columbia projects are located in the traditional, ancestral and unceded territories of the Gitxsan Nation, the McLeod Lake Indian Band, Nak'azdli Whut'en, the Takla Nation and the Tsay Keh Dene Nation.

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

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