Mr. Len Brownlie reports

PROSPECT RIDGE ANNOUNCES C$1.5 MILLION NON-BROKERED PRIVATE PLACEMENT OF CRITICAL METALS FLOW-THROUGH UNITS

Prospect Ridge Resources Corp. has arranged a non-brokered private placement to raise aggregate gross proceeds of up to $1.5-million.

The offering consists of up to 20 million critical metals flow-through (CMFT) units of the company at a price of 7.5 cents per CMFT unit for gross proceeds of up to $1.5-million.

Each CMFT unit will consist of one critical metals flow-through common share of the company that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant, with a whole warrant being exercisable to purchase one non-flow-through common share of the company at a price of 10 cents for a period of two years after closing. The warrants will be subject to accelerated expiry if the company's common shares trade or close on the Canadian Securities Exchange at 21 cents or more for 10 consecutive trading days.

The company intends to use the gross proceeds from the flow-through shares to incur, on its mineral projects in British Columbia, eligible Canadian exploration expenses that will also qualify as flow-through critical mineral mining expenditures under the income tax act. The company intends the bulk of the gross proceeds to finance a coming 2,500-metre drill program on the issuer's Camelot project, located near Horsefly, B.C. (see news releases dated Jan. 23, Feb. 25 and June 16, 2026), and for preparations for an extensive spring drill program at the company's Excalibur project located north of Smithers, B.C. (see news releases dated Sept. 10 and Sept. 24, 2026).

The gross proceeds from the sale of CMFT shares will be used to incur, on or before Dec. 31, 2027, resource exploration expenses that will constitute Canadian exploration expenses as defined in Subsection 66.1(6) of the income tax act, flow-through critical mineral mining expenditures as defined in Subsection 127(9) of the income tax act and, for British Columbia subscribers, British Columbia flow-through mining expenditures as defined in the Income Tax Act (British Columbia). The CMFT qualifying expenditures will be renounced on a pro rata basis to each subscriber for CMFT shares with an effective date of no later than Dec. 31, 2026, in accordance with the income tax act.

The closing of the offering is subject to certain closing conditions, including the receipt of all necessary approvals, including exchange acceptance. All securities issued will be subject to a statutory and/or exchange hold period of four months plus one day from closing. The company may pay finders' fees in compliance with applicable securities laws and exchange policies and subject to the receipt of any necessary regulatory approvals.

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 seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its Golden Horseshoe and Cariboo projects (located in north-central British Columbia) -- high-potential copper-gold systems positioned within one of Canada's most underexplored yet geologically endowed mineral belts.

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