Mr. Blaine Monaghan reports

PACIFIC RIDGE CLOSES FIRST TRANCHE OF BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$2.7 MILLION

Pacific Ridge Exploration Ltd. has closed the first tranche of its previously announced best efforts private placement for gross proceeds of $2,692,920 from the sale of (i) 11.39 million units of the company at a price of 20 cents per unit and (ii) 1,804,000 flow-through units of the company at a price of 23 cents per FT unit. Red Cloud Securities Inc. is acting as sole agent and bookrunner in connection with the offering.

Each unit consists of one common share of the company and one common share purchase warrant. Each FT unit consists of one common share of the company issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one warrant. Each warrant entitles the holder thereof to purchase one common share of the company at a price of 28 cents at any time from Nov. 5, 2025, to Sept. 5, 2028.

The company intends to use the net proceeds of the offering for the exploration of the company's Kliyul and RDP copper-gold projects in British Columbia, as well as for general working capital and corporate purposes, as is more fully described in the offering document (as defined herein).

Gross proceeds from the sale of FT shares will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act and, provided the tax act is amended as proposed by the Department of Finance press release on March 3, 2025, flow-through mining expenditures as defined in Subsection 127(9) of the Income Tax Act. Such gross proceeds will be renounced to the purchasers of the FT units with an effective date not later than Dec. 31, 2025, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of the FT shares.

In accordance with National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), the units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities of the company issuable from the sale of such units are freely tradeable in accordance with applicable Canadian securities legislation.

The FT units were issued to Canadian purchasers by way of the accredited investor and minimum amount investment exemptions under NI 45-106.

As consideration for their services in the first tranche, Red Cloud received aggregate cash fees of $132,596.40 and 651,480 non-transferable common share purchase warrants. Each Broker warrant is exercisable into one common share of the company at a price of 20 cents per broker warrant share at any time on or before Sept. 5, 2028.

The securities of the company issued and issuable from the sale of such FT units and the issuance of the broker warrants are subject to a statutory hold period and may not be traded until Jan. 6, 2026, except as permitted by applicable securities legislation and the policies of the TSX Venture Exchange.

Two directors (one of whom is also an officer) of the company participated in the offering, acquiring an aggregate of 100,000 FT units and 100,000 units. Participation by such insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to, or the consideration paid by, such insiders exceeded 25 per cent of the company's market capitalization.

There is an offering document related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The closing of the first tranche remains subject to the final approval of the TSX-V.

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 British Columbia. 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.

We seek Safe Harbor.