Mr. Len Brownlie reports

PROSPECT RIDGE UPSIZES NON-BROKERED PRIVATE PLACEMENT OF CRITICAL METALS FLOW-THROUGH UNITS TO C$1.76 MILLION

Further to Prospect Ridge Resources Corp.'s press releases issued Oct. 2 and Oct. 13, 2026, it has increased the size of its non-brokered private placement from aggregate gross proceeds of up to $1.5-million, to $1.76-million.

The offering will now comprise up to 23,418,336 critical metals flow-through units of the company (the CMFT units) at a price of 7.5 cents per FT unit for gross proceeds of up to $1,756,375. A first tranche closing of 17,935,002 CMFT units for aggregate gross proceeds of $1,345,235.15 was completed on Oct. 13, 2026 (see news release of same date).

Each CMFT unit consists 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 FT 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 an upcoming 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, B.C .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 finder 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 north-central B.C. located Golden Horseshoe and Cariboo projects -- high-potential copper-gold systems positioned within one of Canada's most underexplored yet geologically endowed mineral belts.

We seek Safe Harbor.