Mr. Blaine Monaghan reports

PACIFIC RIDGE ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION

Pacific Ridge Exploration Ltd.'s previously reported consolidation (see news release dated Jan. 8, 2025) of its common shares on the basis of one postconsolidation common share for every 10 preconsolidation common shares is anticipated to be made effective for trading purposes on Jan. 23, 2025.

"We believe that the consolidation will help us attract the capital needed to explore and advance the recently optioned portfolio of copper and gold projects located in America," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. Postconsolidation, Pacific Ridge will have approximately 17 million common shares issued and outstanding, a market capitalization under $5-million, and will own or control eight copper projects in premier copper mining in America and Canada. We will seek partners to continue advancing our Canadian copper projects -- over $20-million has been spent on these projects since 2021 -- while we focus on the recently optioned portfolio of copper and gold projects located in America."

The common shares will continue trading on the TSX Venture Exchange on a postconsolidation basis under the name Pacific Ridge Exploration and the trading symbol PEX. The new Cusip number and international securities identification numbers of the common shares will be 694798604 and CA6947986049, respectively. The consolidation is subject to approval by the TSX-V.

No fractional common shares will be issued in connection with the consolidation. In the event that a registered shareholder would otherwise become entitled to a fractional postconsolidation common share, then such fractional share interest shall be rounded down to the nearest whole number and the fractional share shall be eliminated.

The exercise price and the number of common shares issuable under any outstanding common share purchase warrants, stock options and any other similar securities will be proportionately adjusted upon the implementation of the consolidation, in accordance with the terms of such securities, based on the consolidation ratio.

About Pacific Ridge Exploration Ltd.

Pacific Ridge is one of North America's leading copper exploration companies. The company owns or controls eight copper projects in premier copper mining districts located in America and Canada.

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