Mr. Blaine Monaghan reports

DRILLING UNDERWAY AT PACIFIC RIDGE'S RDP COPPER-GOLD PROJECT

Drilling is under way at Pacific Ridge Exploration Ltd.'s 100-per-cent-owned RDP copper-gold project, located in British Columbia's Golden Horseshoe at the southern end of the Toodoggone district.

In 2022, RDP returned one of B.C.'s best porphyry copper-gold intervals. Drill hole RDP-22-005 intersected 107.2 metres of 1.39 per cent copper equivalent (CuEq) or 2.06 grams per tonne 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) at the Day target (see news release dated Oct. 25, 2022). Pacific Ridge plans to drill a minimum of 1,500 m at the Day target this year.

"The Toodoggone, driven by Amarc Resource's recent Aurora discovery, is quickly becoming one of the world's hottest exploration districts," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "We are excited to return to RDP as the high-grade mineralization in drill hole RDP-22-005 is similar to what has been reported at Aurora."

The Day target

Day, just one of several targets at RDP, consists of a 100 by 150 m rusty weathering malachite-stained outcrop protruding from a boulder talus slope. Porphyry Cu-Au-Ag mineralization is hosted in a composite, hornblende-plagioclase sub-porphyritic diorite stock that intruded polymictic volcano-sedimentary rocks of the Lower Hazelton Group (Telkwa formation). Mineralization at surface is primarily chalcopyrite, with coarse blebby bornite noted in potassic alteration zones. Chalcopyrite occurs as disseminated blebs in groundmass, as disseminated grains on tight fractures, filling the centerline of quartz and quartz-magnetite veins (QMS veins), or as coarse replacements up to five by 10 centimetres in size.

Drilling results from 2022 to 2023 suggest that Day is westward-striking, steeply northward-dipping (80 degrees), and has a tabular or lenticular pipe shape with minimum approximate dimensions of 310 m east-west, 100 m north-south and up to 600 m vertical depth. Mineralization remains open to the west, north, east and at depth. Geophysical models (magnetic vector inversion and induced polarization) corroborate grade shell modelling and suggest the known occurrence at Day may be a structurally controlled intrusion that dips steeply northward towards a larger porphyry source at approximately 500 to 550 m depth. It lies at the centre of an MVI anomaly, and along a tight gradient zone between high-to-low chargeability and high-to-low resistivity.

About Pacific Ridge Exploration Ltd.

A Fiore Group company, Pacific Ridge's goal is to become British Columbia's leading copper exploration company. The Kliyul copper-gold project, located in the prolific Quesnel terrane close to existing infrastructure, is the company's flagship project. 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. The company would like to acknowledge that its B.C. projects are 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, exploration, of the company, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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