Mr. Michael Iverson reports

PROSPECT RIDGE RESOURCES ANNOUNCES HIGH GRADE SAMPLING RESULTS FROM DORREEN MINE AND EXPLORATION AT KNAUSS CREEK PROPERTY

Prospect Ridge Resources Corp. has released results of surface geological works at the Dorreen mine and surrounding area, situated within the company's fully owned flagship Knauss Creek property, located 35 kilometres northeast of Terrace, B.C. Those results are part of a continuing aggressive surface exploration campaign designed to follow up on historic showings and other targets across the entire property.

Key highlights

Sampling was completed at the Dorreen mine that was developed in 1924, 1926 and in 1952. Production information in historical reports is inconsistent. It is reasonable to estimate that about 700 tons at 16.8 grams per tonne gold, 58 g/t silver, 0.22 per cent copper, 2.1 per cent lead and 1.4 per cent zinc were mined from a quartz vein (not National Instrument 43-101 compliant).

Outcrop sampling of the quartz vein that remains accessible in the underground adits from the Doreen mine returned:

• 21.70 g/t Au (W384759);
• 22.80 g/t Au (W384760);
• 12 g/t Au (W384814);
• 11.55 g/t Au (W386163).

In addition, surface prospecting and mapping have discovered a number of new veins in outcrops. These veins are interpreted to form part of a larger network of veins covering a larger area than previously interpreted.

An outcrop sample collected 50 metres southwest, at 75 m higher elevation from the mine, returned:

• 7.12 g/t Au (W384720).

From two other adits located 100 m southwest, at 100 m higher elevation from the mine, outcrop samples collected gave:

• 36.20 g/t Au (W386156);
• 19.35 g/t Au (W384675).

Prospect Ridge chief executive officer Michael Iverson commented: "The consistent high-grade results achieved both within and above the mine reinforce our optimism about the mineral nature of this area, suggesting a mineralized system comprised of multiple veins. The veins identified not only host gold but also contain silver, copper, lead and zinc. These recent findings are in line with documented historical grades associated with the Dorreen mine.

"We are very pleased with the exploration work in this area and these high-grade results will require future follow-up. Additionally, similar work is being completed at other showings across the property and we expect to release those results in the near future."

Positioned west of the Knauss creek and elevated by about 100 m on the mountain's flank, the Dorreen mine is a network of four interconnected adits.

All accessible points were sampled, yielding 11 samples showcasing gold, silver and base metals.

While scouting the area, an outcrop with a quartz vein, containing pyrite, chalcopyrite, galena and sphalerite, was sampled (W384720) and gave 7.12 g/t Au, 108 g/t Ag, 0.53 per cent Cu, 4.74 per cent Pb and 1.45 per cent Zn. A gold equivalent of 11.41 g/t was calculated. This outcrop is located approximately 50 m southwest of the extremity of the mine and at 75 m higher elevation.

Further exploration, 100 m southwest and 100 m in elevation from the mine, led to the discovery of two more adits, the results of which are listed herein.

Cautionary statements

Outcrop samples are selective by nature and grades may not be representative of mineralized zones. True thickness or mineralization style and geological models cannot be determined with the information currently available.

Quality assurance/quality control

Rock samples were assayed for gold by standard 50-gram fire assaying with atomic absorption finish (Au-AA24) or gravimetric finish (Au-GRA22) or 1,000-gram metallic screening (Au_SCR24) at ALS Canada in Terrace, B.C. The samples were also assayed for 35 metals from an aqua regia digestion with inductively coupled plasma atomic emission spectroscopy finish (ME-ICP41). For samples with overlimit results in silver, copper, lead and zinc aqua regia with ICP finish was used (OG46 ore grade). A quality assurance/quality control program has been implemented and consists of inserting standards on a regular basis in the samples stream.

Qualified person

All scientific or technical information included in this news release has been reviewed, verified and approved by Yan Ducharme, PGeo, president of the company and a qualified person as defined by National Instrument 43-101. This news release was written by Mr. Ducharme.

About the Knauss Creek property

The fully owned Knauss Creek is about 35 kilometres northeast of the town of Terrace in the province of British Columbia, Canada. It is easily accessible by Highway 16 and a network of logging roads. It covers about 32 square kilometres and is contiguous to Prospect's optioned Holy Grail property.

Several gold, silver, copper, lead and zinc occurrences were found in the past. The most notable is the Dorreen mine where four adits were developed and, according to historical documents, around 700 tons of ore were mined out at an average grade of at 16.8 g/t Au, 58 g/t Ag, 0.22 per cent Cu, 2.1 per cent Pb and 1.4 per cent Zn from a quartz vein (not NI 43-101 compliant).

The southern tip of the Golden Triangle arrives just northwest of Prospect properties. The Bowser Lake and the Hazelton groups hosting most of the deposits and mines of this area are also underlying the Knauss Creek and Holy Grail.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources is a British Columbia-based exploration and development company focused on gold exploration. Prospect Ridge's management and technical team cumulate over 100 years of mineral exploration experience and believes the Knauss Creek and the Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast underexplored region.

We seek Safe Harbor.