Mr. Yan Ducharme reports

PROSPECT RIDGE RESOURCES: A YEAR OF SIGNIFICANT GROWTH AND DISCOVERY

Prospect Ridge Resources Corp. has presented its year-end recap, outlining a series of significant achievements and discoveries that have marked 2023 as a year of exceptional progress in its exploration endeavours.

Key Highlights of 2023:

Impressive Prospecting Results on the Copper Ridge Showing at Knauss Creek: Following up on high-grade samples announced on January 26, 2023, the summer saw many prospecting days on the Copper Ridge, which extended the mineralized zones over an east-west strike length of 1250 m, a north-south strike of 500 m and a height difference of 250 m. Many new high-grade results up to 78.9 g/t Au, 2050 g/t Ag, and 17.75% Cu sampled on outcrop made this target drill-ready for 2024.

Acquisition of the Holy Grail Property: On February 8, the Company acquired 100% of the Holy Grail property, giving it full control over 730 square kilometers of ground in the Terrace area.

Leadership Additions: We strengthened our board with the appointment of Mr. Michael Michaud (currently Vice-president Exploration at Wesdome Gold Mines) and Mr. Yan Ducharme (currently President of Prospect Ridge) as Directors, and named Simon Ridgway (currently CEO of Rackla Metals, Volcanic Gold Mines and chairman of Radius Gold) as Chairman of the Company.

Discoveries at the Holy Grail Property: The prospecting results from the Holy Grail property, reported on June 21, were highly encouraging, with significant findings of gold, silver and copper, among other metals. This further established the property as a key asset in our portfolio.

High-Grade Sampling Results from Dorreen Mine: Our sampling of outcrops in and around the Dorreen Mine, part of the Knauss Creek property, are yielding promising results, as announced on September 14.

Discovery of Leon's Legacy: On September 27, we announced the discovery of a new mineralized zone named "Leon's Legacy" at the Knauss Creek property. This discovery underscored our ability to continually identify and explore new prospects within our existing properties.

Looking Ahead:

As we close a remarkable year, Prospect Ridge remains committed to advancing our exploration projects, which are now a solid foundation for continued growth and success in the years to come. We extend our heartfelt thanks to our dedicated team, shareholders and partners for their unwavering support, and look forward to a prosperous 2024.

Qualified Person

All scientific or technical information included in this news release has been reviewed, verified and approved by Yan Ducharme, P.Geo., President of the Company and a qualified person as defined by National Instrument 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. 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 under-explored region.

We seek Safe Harbor.