Mr. Blaine Monaghan reports

ZTEM SURVEY RESULTS PROVIDE VECTOR TO PORPHYRY CENTRE AND NEW TARGETS AT PACIFIC RIDGE'S KLIYUL COPPER-GOLD PROJECT

Pacific Ridge Exploration Ltd. has released the results of an airborne Z-axis tipper electromagnetic survey recently completed at the Kliyul copper-gold project. The results of the ZTEM survey bolster the company's confidence that the final drill hole of the 2023 exploration program, drill hole KLI-23-069, intersected a mineralized quartz diorite porphyry stock, believed to be the mineralizing or source pluton, north of the Kliyul Main zone (KMZ). Owned 100 per cent by Pacific Ridge, Kliyul is located in the prolific Quesnel terrane in north-central British Columbia close to existing infrastructure.

ZTEM highlights:

• 541 line kilometres of airborne ZTEM survey covered 85 per cent of Kliyul;
• Strengthens the company's confidence that the final drill hole of the 2023 exploration program, drill hole KLI-23-069, intersected a mineralized quartz diorite porphyry stock, believed to be the mineralizing or source pluton, north of KMZ;
• Indicate a potentially mineralized 700-metre north-northeast-trending corridor, the KMZ-Klip corridor, from KMZ to the southern margin of a large magnetic and resistivity high anomaly associated with the Darb Creek pluton, a satellite intrusion of the Hogem batholith;
• Pacific Ridge believes that KMZ is just one mineralized porphyry centre associated with a pipe-shaped body of zoned alteration mineralization extending from an interpreted porphyry source pluton at depth;
• Results of the survey will be used to identify a ZTEM signature of KMZ mineralization, as well as the geometry and geological controls of that signature to depths greater than a kilometre;
• The company plans to complete 3-D modelling of the ZTEM results and integrate these with existing geology, geophysics, geochemistry and drill hole data to define targets for future drilling.

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"The ZTEM results are very exciting," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "The results reinforce our belief that the final drill hole of the 2023 exploration program provided a vector for a higher-grade porphyry centre at KMZ. Further, the results indicate that the 700-metre-long KMZ-Klip corridor may be mineralized."

Kliyul highlights:

• Pacific Ridge has spent approximately $14.0-million on exploration at Kliyul since 2020 and acquired a 100-per-cent interest in the project in 2023.
• Kliyul is over 90 square kilometres in size and is located in the prolific Quesnel terrane close to existing infrastructure, approximately eight km to the Omineca Resource Road and a 230-kilovolt high-voltage power line.
• A six-kilometre-long porphyry copper-gold trend, composed of favourable geology, geochemistry, alteration and geophysics, exists at the project, but KMZ has been the focus since 2021.
• Drilling by Pacific Ridge has increased the mineralized extents of KMZ tenfold. Pre-2021, the mineralized extents measured approximately 350 metres east-west by approximately 150 metres north-south by approximately 400-metre vertical depth. After the past round of drilling, the known mineralized extents measure approximately 760 m E-W by approximately 600 m N-S by approximately 650-metre vertical depth. KMZ remains open to the north, west, east, southeast and at depth.
• The best drilling result in 2021 was 316.7 m of 0.79 per cent copper equivalent and 1.17 grams per tonne gold equivalent (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 and 0.75 g/t AuEq (0.20 per cent copper, 0.44 g/t gold and 1.39 g/t silver) from KLI-21-037 (see news release dated Jan. 31, 2022).
• The best drilling result in 2022 was 328.0 m of 0.64 per cent CuEq and 0.95 g/t AuEq (0.25 per cent copper and 0.57 g/t gold) within 526 m of 0.49 per cent CuEq and 0.74 g/t AuEq (0.25 per cent copper, 0.57 g/t gold and 1.25 g/t silver) from KLI-22-050 (see news release dated Jan. 18, 2023).
• The best drilling result in 2023 was 305.5 m of 0.59 per cent CuEq and 0.87 g/t AuEq (0.23 per cent copper, 0.51 g/t gold and 1.22 g/t Ag) within 540.3 m of 0.44 per cent CuEq and 0.65 g/t AuEq (0.19 per cent copper, 0.36 g/t gold and 0.65 g/t silver) from KLI-23-054 (see news release dated Aug. 23, 2023).
• Drill hole KLI-23-069, the last hole of the 2023 drilling program, returned 45.0 m of 0.58 per cent CuEq or 0.86 g/t AuEq (0.38 per cent copper, 0.28 g/t gold and 2.20 g/t silver) within 570.0 m of 0.27 per cent CuEq or 0.40 g/t AuEq (0.14 per cent copper, 0.18 g/t gold and 0.99 g/t silver). The 45-metre interval, at 584-metre downhole depth, is the deepest mineralized interval ever encountered at Kliyul, and provides a northward and down plunge vector for a higher-grade porphyry centre at KMZ.
• The project is located in the traditional territory of Takla Nation and Tsay Keh Dene Nation. The company has exploration agreements in place with these nations.
• The Kliyul mineral claims are in good standing until 2034.

Results of 2024 ZTEM survey

The ZTEM survey results support the drilling strategy to test a 250-metre diameter magnetic high anomaly in KMZ North that is centred 200 m northeast of drill hole KLI-23-069. The southern edge of this anomaly was tested by Teck Resources Ltd. in 2015 with drill hole KLI-15-035 returning 90.9 m (407.7-498.6 m) of 0.20 per cent copper, 0.23 g/t gold and 0.80 g/t silver. The western edge of the anomaly was tested by Pacific Ridge in 2022 with KLI-22-046 returning 59.0 m (371.0-430.0 m) of 0.89 per cent CuEq and 1.22 g/t AuEq (0.24 per cent copper, 0.87 g/t gold and 2.29 g/t silver) within 169 m (273.0 to 442.0 m) of 0.55 per cent CuEq or 0.75 g/t AuEq (0.20 per cent copper, 0.46 g/t gold and 1.65 g/t silver) (see Pacific Ridge news release dated Jan. 18, 2023). Both drill holes clipped the margin of the anomaly, which remains wide open.

Results indicate a northeast- to north-northeast-trending feature or zone on almost all electromagnetic frequencies (and depth of investigation to one kilometre or more) for total phase rotation and total divergence grids that coincide with the untested magnetic anomalies north of KLI-23-069. The electromagnetic trend continues for 700 m from KLI-23-069 to the southern margin of a large resistivity and magnetic high anomaly associated with the Darb Creek pluton, a 14-square-kilometre satellite intrusion of the Hogem batholith. This target area is 400 m east of a historical B.C. Minfile occurrence (094D 185) called Klip that records a northeast-striking shear zone within QSP-altered volcaniclastic rocks. A one-metre chip sample taken across the shear zone in 1985 yielded 3.8 g/t Au and 5.3 g/t Ag.

The ZTEM signature of KMZ mineralization is a moderate- to low-conductivity gradient zone that lies above a resistivity-high anomaly at depth, interpreted as a quartz diorite porphyry stock or top of a source pluton. This source intrusion is a marginal feature of the Darb Creek pluton, the southern margin of which spans 3.5 kilometres following the east-northeast-trending Valley Fault. In the ZTEM data, the Darb Creek pluton adjoins the northwest-trending Kliyul Creek intrusive complex that follows Divide Lake fault, and both are believed to be composite satellite intrusions of the Hogem batholith, located approximately 12 km to the south.

These data support an exploration model that interprets KMZ as a broad pipe-shaped body of zoned alteration mineralization with mineralized dikes and shear zones hosted in volcaniclastic rocks lying above a quartz diorite porphyry stock or source pluton at depth. The magnetite-biotite altered core of the zoned KMZ porphyry is approximately 250 m in diameter, and mineralization continues outward of this for up to 450 m on either side in peripheral chlorite-sericite and inner-propylitic zones. Other KMZ-type centres may be associated with this underlying pluton to the north along the 700-metre KMZ-Klip corridor. This coincides with an irregularity along the interpreted southern margin of the Darb Creek pluton.

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 several compelling exploration targets, including the Kliyul Main zone, which has been the company's focus since acquiring the project in 2020. Pacific Ridge has completed more than 18,500 m of diamond drilling and has expanded the known extents of KMZ mineralization to 760 m east-west, up to 600 m north-south and up-to-650-metre vertical depth.

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 also includes the Chuchi copper-gold project, the 100-per-cent-owned RDP copper-gold project, the 100-per-cent-owned Onjo copper-gold project and the 100-per-cent-owned Redton copper-gold project, all located in British Columbia. The company 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.

The technical information contained within this news release has been reviewed and approved by Danette Schwab, PGeo, vice-president, exploration, and a qualified person as defined by National Instrument 43-101 policy.

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