Mr. Mike Iverson reports

PROSPECT RIDGE SECURES 100% INTEREST IN CAMELOT COPPER GOLD PORPHYRY PROJECT FROM OROGEN ROYALTIES INC. AND PROVIDES STRATEGIC EXPLORATION UPDATE

Prospect Ridge Resources Corp. has closed its acquisition of a 100-per-cent interest in the Camelot copper-gold project (see news release dated Sept. 2, 2025). The company also provides an update on advancing exploration programs across its Castle, Excalibur, Knauss Creek and Holy Grail projects, all located within highly prospective areas of north-central British Columbia.

Closing of Camelot acquisition

Prospect Ridge confirms that its previously announced purchase of a 100-per-cent interest in the Camelot copper-gold porphyry project from Orogen Royalties Inc. has been deemed to have been accepted by the Canadian Securities Exchange effective Sept. 9, 2025.

The company has completed the initial payment for the project of 243,180 shares at a deemed price of 10.2804 cents per share ($25,000) subject to a hold period expiring Jan. 10, 2026. An additional $175,000, payable in cash or common shares of Prospect Ridge (based on a 10-day VWAP (volume-weighted average price)), will be made at the company's sole discretion within six months and two days of the approval date. All shares issued by Prospect Ridge will be subject to a restricted resale period expiring four months plus one day after issuance in accordance with applicable securities laws.

Prospect Ridge will also grant to Orogen a 1-per-cent NSR (net smelter return) royalty. Prospect Ridge will be able to buy down 0.5 per cent of an underlying 1-per-cent NSR royalty for a one-time payment of $1-million. Prospect Ridge will also assume an annual advance royalty payment of $10,000 and a one-time payment of $30,000 upon completion of a National Instrument 43-101 mineral resource, payable to the underlying royalty holder.

This acquisition strengthens Prospect Ridge's foothold in a highly prospective copper-gold district and adds another flagship porphyry project to its growing portfolio. The company intends to conduct a 2,000-metre drill program this fall over a well-defined geophysical target. Discussions with qualified drilling contractors are currently under way.

Castle and Excalibur exploration programs

At Castle, Equity Exploration Consultants Ltd. and subcontractors have completed an approximately seven-line-kilometre induced polarization (IP) survey covering the north and west Castle gossan slopes. In addition, Equity has completed a program of prospecting and mapping over both the Castle and Abbey gossans. A 500-line-kilometre airborne magnetic survey over the entire project is scheduled to begin on Sept. 17, 2025.

At Excalibur, line brushing will begin within two weeks to support a 20-line-kilometre IP survey at a line spacing of 200 metres in the vicinity of the high-copper soil samples collected in 2019 and 2021 deemed to be associated with porphyritic intrusive bodies.

The objective of these initial programs is to generate multiple high-priority drill targets to support a minimum 2,000-metre diamond drill program at each project as early as the summer of 2026, subject to drill permitting.

Knauss Creek and Holy Grail programs

Prospect Ridge also confirms that field crews from Equity will be returning to the company's Knauss Creek and Holy Grail projects, located north of Terrace, B.C. for a one-week program of prospecting and mapping. The program will focus on three additional high-priority exploration targets.

The program will be staged from Prospect Ridge's fully equipped Terrace camp, utilizing its fleet of trucks and ATVs (all-terrain vehicles), along with helicopter support. Both projects are fully drill permitted and together cover a commanding 625.5-square-kilometre land package. The aim of the program is to identify and refine new drill-ready targets.

First nations land acknowledgment

Prospect Ridge acknowledges the traditional territories on which its projects are situated:

• Castle: Tahltan and Tsay Keh Dene First Nations;
• Excalibur: Lake Babine First Nation;
• Camelot: Williams Lake Indian Band, Xatsull First Nation and the Neskonlith Indian Band;
• Holy Grail and Knauss Creek: Gitxsan Hereditary Chiefs and Kitselas First Nation.

The company is committed to building constructive, respectful and mutually beneficial relationships with first nations based on trust, transparency and collaboration.

Qualified person statement

All technical data, as disclosed in this press release, have been verified by Dr. Ron Voordouw, PhD, PGeo, director of geoscience for Equity Exploration Consultants, a consultant to the company and a qualified person as defined under the terms of NI 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is dedicated to advancing its portfolio of properties that have the potential to extend the boundaries of the Golden Horseshoe across this vastly underexplored region.

We seek Safe Harbor.