Mr. Blaine Monaghan reports

PACIFIC RIDGE PROVIDES AN OVERVIEW OF ITS PROJECTS AND PLANS

Pacific Ridge Exploration Ltd. has provided an overview of the company's objective, its project portfolio, and its exploration plans for 2024 and beyond.

"Since optioning its flagship Kliyul copper-gold project from Centerra Gold Inc. in 2020, Pacific Ridge's goal has been to become British Columbia's leading copper-gold exploration company," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "We now own, or control, five copper-gold porphyry projects located in the prolific Quesnel and Stikine terranes in north-central B.C. and are inarguably one of the province's leading copper-gold exploration companies. Pacific Ridge strongly believes that increased demand for copper, coupled with heightened political risk in Central and South America, will lead to more competition for copper-gold porphyry projects located in Tier 1 jurisdictions like B.C. Companies that own or control these projects will become increasingly prized."

Pacific Ridge's project portfolio includes the Kliyul copper-gold project, the Chuchi copper-gold project, the RDP copper-gold project, the Onjo copper-gold project and the Redton copper-gold project, all located in north-central B.C.

About Kliyul

Owned 100 per cent by Pacific Ridge, Kliyul is over 90 square kilometres in size and is located in the prolific Quesnel terrane, close to existing infrastructure. Kliyul hosts several compelling exploration targets, including the Kliyul Main zone (KMZ), which has been the company's focus since 2020. Pacific Ridge has completed more than 17,500 metres of diamond drilling at KMZ, and has expanded the known mineralized extents to 760 m east-west, up to 600 m north-south and up to 650 m vertical. KMZ remains open in every direction and at depth. Drill highlights include drill hole KLI-21-037, which returned 316.7 m of 0.79 per cent copper equivalent (CuEq), or 1.17 grams per tonne (g/t) gold equivalent (AuEq) (0.30 per cent copper, 0.70 g/t gold and 2.17 g/t silver) within 566.7 m of 0.51 per cent CuEq, or 0.75 g/t AuEq (0.20 per cent copper, 0.44 g/t gold and 1.31 g/t silver) (see news release dated Jan. 31, 2022).

Pacific Ridge plans further exploration work this year, including ZTEM (z-tipper axis electromagnetic) and MT (magnetotellurics) geophysical surveys. The surveys are expected to refine the KMZ porphyry deposit model and aid targeting for higher-grade mineralization and a porphyry centre, which will be a focus of future drilling.

About Chuchi

Chuchi is over 160 square kilometres in size, is road accessible and is located approximately 35 km northwest of Centerra Gold Inc.'s Mount Milligan mine. Chuchi is composed of three claim groups, Chuchi, under option from Centerra, and Chuchi South and Chuchi West, under option from American Copper Development Corp. Pacific Ridge can acquire up to a 75-per-cent interest in all three claim groups.

Chuchi has a long history of exploration by companies such as Noranda, BP and Rio Algom, including 8,886 m of drilling in 48 holes, of which 39 holes targeted the main BP zone. An additional 27 holes were drilled in 1991, including some drill holes in the Digger zone. Most of the drilling at Chuchi has been shallow, less than 150 m in length, with many of the drill holes ending in mineralization. Drill highlights include drill hole CH-91-42, which returned 50 m of 1.50 per cent CuEq, or 2.23 g/t AuEq (0.09 per cent copper and 2.10 g/t gold), within 229.2 m of 0.51 per cent CuEq, or 0.76 g/t AuEq, at the Digger zone (0.10 per cent copper and 0.61 g/t gold) (hole ended in mineralization) (see news release dated Dec. 11, 2023).

The results of Pacific Ridge's ZTEM survey in 2022 and induced polarization (IP) survey in 2023 suggest that there are underexplored high-grade centres within the BP-Digger zone that have not been fully delineated. Further, the core of the porphyry system has yet to be identified. Pacific Ridge believes that Chuchi offers a significant discovery opportunity and plans to launch its inaugural drill program as soon as it is practical to do so.

About RDP

Owned 100 per cent by Pacific Ridge, RDP is over 100 square km in size and is located 40 km west of Kliyul in the Stikine terrane. RDP was under option to Antofagasta Minerals SA but was recently returned to the company. From 2022 to 2024, Antofagasta financed 3,288 metres of diamond drilling in nine holes, 16 line km of IP surveys, rock sampling and soil sampling. Drill highlights include drill hole RDP-22-005, which intersected 107.2 m of 1.39 per cent CuEq, or 2.06 g/t AuEq (0.63 per cent copper, 1.10 g/t gold and 2.91 g/t silver), within 497.2 m of 0.66 per cent CuEq, or 0.97 g/t AuEq (0.37 per cent copper, 0.40 g/t gold and 1.60 g/t silver), at the Day target (see the news release dated Oct. 25, 2022, for further information).

Mineralization at the Day target remains open in every direction, except to the south, and appears to be a porphyry dike and pipe complex with strong east-west structural control, and a steep plunge to the north or northeast. The known mineralized extents currently measure approximately 290 m east-west, approximately 100 m north-south and up to approximately 600 m vertical depth.

Two thousand twenty-two to 2023 drilling results indicate that the mineralized porphyry intrusions are hosted in Lower Hazelton group volcanic rocks. As such, the main-stage porphyry core mineralization may occur at greater depth, toward the Takla-Hazelton group unconformity, or within underlying Takla group rocks. Drill hole RDP-23-007, a 300 m stepout from drill hole RDP-22-005, was terminated at a depth of 573 m, ending in strong porphyry copper-gold mineralization: 19 m of 0.45 per cent CuEq or 0.67 g/t AuEq (0.32 per cent copper, 0.19 g/t gold and 1.08 g/t silver) (see news release dated Nov. 23, 2023). Pacific Ridge believes that the Day target and other target areas at RDP continue to offer significant discovery opportunity.

About Onjo

Owned 100 per cent by Pacific Ridge, Onjo is over 146 square km in size, is road accessible and adjoins the western boundary of Centerra's Mount Milligan mine, which hosts 250 million tonnes grading 0.17 per cent copper (961 million pounds (lb) of copper) and 0.35 g/t gold (2,822,000 ounces of gold) in the proven and probable category. Onjo hosts skarn and alkalic porphyry copper-gold mineralization associated with monzonitic phases of the Witch Lake intrusions cutting Takla volcanic rocks, similar to the mineralization and host rocks at Mount Milligan mine. The style of copper-gold mineralization returned in historical drilling, combined with the presence of nearby skarn occurrences, leads the company to believe that past operators encountered the upper or peripheral levels of a tilted alkalic porphyry system and that Onjo has the potential to host an alkalic porphyry copper-gold deposit at depth.

Exploration in 2022 to 2023 included geological mapping, gridded soil sampling and geophysical surveys (ZTEM and IP). Currently, there is a two km by 1.7 km target area of interest, the Chica zone, which is located 20 km west of the Mount Milligan open pit. Chica contains three IP target areas over two km that coincide with anomalous porphyry pathfinder element geochemistry and surface mapping indicators. Further, it lies at the southeastern margin of multikilometre-scale aeromagnetic anomaly, as does the nearby Mount Milligan mine.

About Redton

Owned 100 per cent by Pacific Ridge, Redton is over 34 square km in size and adjoins the eastern boundary of NorthWest Copper Corp.'s Kwanika copper-gold deposit. Several target areas exist at Redton: Catchment Basin, East Swan, NEX, Redton East and Redton North. In 2022, after completing a targeted soil survey grid, the company identified a surface geochemical target, the NEX zone, which is of similar size and orientation as the Kwanika Central zone footprint. NEX zone is located 4.5 km east of Kwanika, following an interpreted arc-transverse lineament and an AeroTEM geophysical feature of interest.

Pacific Ridge is planning an induced polarization survey at Redton this year to help further refine future drill targets.

Yukon gold projects

Owned 100 per cent by Pacific Ridge, the Mariposa gold project is over 295 square km in size and is located in the White gold district, approximately 30 km northeast of Newmont Corp.'s Coffee gold project and approximately 40 km southeast of White Gold Corp.'s Golden Saddle. The geological setting of Mariposa is similar to Coffee and Golden Saddle in terms of the host lithologies, the structural controls and brittle style of deformation, and the nature of gold mineralization. Drill highlights include drill hole 11-MP-01, which returned 6.44 g/t gold over 11.1 m within 2.44 g/t gold over 39 metres (see news release dated July 28, 2011). Mariposa is available for sale or option.

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), 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.

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