Mr. Blaine Monaghan reports

PACIFIC RIDGE INCREASES PRIVATE PLACEMENT

Due to strong investor demand, Pacific Ridge Exploration Ltd.'s previously announced non-brokered private placement has been increased from $1.86-million to $2.9-million.

Proceeds from the offering will be used for a follow-up drill program at the company's 100-per-cent-owned RDP copper-gold project and for general working capital. Drilling at RDP in 2022 returned 107.2 metres (m) of 1.39 per cent copper equivalent (CuEq) or 2.06 grams per tonne (g/t) gold equivalent (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) (see news release dated Oct. 25, 2022). RDP is located in north-central British Columbia, 40 kilometres (km) west of the company's flagship Kliyul copper-gold project.

The offering consists of units at a price of 14 cents per unit and critical mineral flow-through (FT) units at a price of 17 cents per FT unit. Each unit comprises one common share of the company and one common share purchase warrant. Each FT unit comprises one common share of the company issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one warrant. Proceeds from the sale of the FT units will be used for Canadian critical minerals exploration expenses at Pacific Ridge's B.C. projects. These expenditures will qualify as critical mineral flow-through mining expenditures within the meaning of the Income Tax Act (Canada).

Pacific Ridge previously announced closing of a first tranche of the offering by issuing 1,632,430 units and 618,823 FT units for gross proceeds of $333,740.11. The company expects to close the final tranche of the offering on or about May 30, 2025. Pacific Ridge may pay finders' fees of 7 per cent in cash on a portion of the offering. In addition, the company may issue finders' warrants, exercisable for a period of 36 months, to acquire in aggregate that number of non-flow-through common shares of the company that is equal to 7 per cent of the number of units and FT units sold under the offering at a price of 20 cents. The offering and payment of finders' fees are subject to TSX Venture Exchange acceptance.

About Pacific Ridge Exploration Ltd.

Pacific Ridge is one of B.C.'s leading copper exploration companies. The company'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, Pacific Ridge's project portfolio includes the RDP copper-gold project, the Chuchi copper-gold project, the Onjo copper-gold project and the Redton copper-gold project, all located in B.C. 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.

The technical information contained within this news release has been prepared under the supervision of, and reviewed and approved by, Danette Schwab, PGeo, vice-president of exploration of the company, and a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.