Mr. Grant Ewing of Rockridge Resources reports

ROCKRIDGE COMPLETES ITS VTEM GEOPHYSICAL PROGRAM AT THE KNIFE LAKE COPPER PROJECT AND ANNOUNCES PLANS FOR DRILL PROGRAM

Rockridge Resources Ltd. has completed its geophysical program at its flagship Knife Lake project located in Saskatchewan, Canada. The company has also released its plans for a coming 1,600-metre-minimum drill program. Rockridge has an option agreement with Eagle Plains Resources Ltd. to acquire a 100-per-cent interest in the property that covers the Knife Lake copper-zinc-silver-cobalt VMS deposit. The contiguous claims total 32,663 hectares and are located approximately 50 kilometres northwest of Sandy Bay, Sask. A 357-kilovolt powerline runs within 16 km of the Knife Lake deposit area, greatly enhancing the project's infrastructure.

Winter geophysical program

Crews have now completed an airborne electromagnetic and horizontal magnetic gradiometer geophysical survey at the Knife Lake project using Geotech Ltd.'s VTEM Plus system. The survey was strategically located over the Scimitar and Gilbert Lake targets to investigate over 30 linear kilometres of prospective VMS stratigraphy which hosts the Knife Lake copper deposit.

Airborne geophysical results

Preliminary data from the survey have revealed several conductive features of significant interest; eight conductors have been prioritized for geophysical modelling based on their correlation with prospective stratigraphy and favourable geochemistry. These geophysical models will assist in targeting holes for the coming drill program.

2021 regional exploration program and priority target areas

The Knife Lake deposit contains typical VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. Therefore, the known deposit may represent a remobilized portion of a presumably larger primary VMS deposit based on general observations about the mineralogy, mineral textures and metal ratios in the deposit. Most of the historical work has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit. As a result, there is strong discovery potential both at depth and regionally.

Coming Knife Lake drill program

Rockridge has recently commenced the mobilization of crew and equipment to complete a minimum of 1,600 metres diamond drill program consisting of six to eight holes. Drilling will focus on discovering VMS style copper deposits along newly defined conductors and at depth, underneath the Knife Lake deposit. Infill drilling is also planned in the immediate area of the 2019 maiden resource. Downhole geophysics, borehole electromagnetics, will be utilized extensively throughout the program.

Knife Lake geology and history

The Knife Lake project is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is approximately 15 metres thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30 degrees to 50 degrees eastward over a known strike length within Rockridge's claim area of 3,700 metres, and a known average down-dip extension of approximately 300 metres.

The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. The mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted overturned fold.

The company completed 12 holes consisting of 1,053 metres of diamond drilling in the 2019 winter drilling program. This represented the first drilling on the property since 2001 and had two primary objectives: confirm the tenor of mineralization reported by previous operators and expand known zones of mineralization. Highlights from the drill program included previously reported hole KF19003 which intersected net-textured to semimassive sulphide mineralization from 11.2 m to 48.8 m downhole. This 37.6-metre interval returned 2.03 per cent copper, 0.19 gram per tonne gold, 9.88 g/t silver, 0.36 per cent zinc and 0.01 per cent cobalt for an estimated 2.42 per cent copper equivalent. Additionally, previously reported drill hole KF19001 intersected net-textured to fracture-controlled sulphide mineralization from 7.5 metres to 40.6 metres downhole. This 33.1-metre interval returned 1.28 per cent Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13 per cent Zn and 0.01 per cent Co for an estimated 1.49 per cent CuEq.

Knife Lake plan map and drill collar locations

Compilation and initial modelling indicate potential for expansion of the deposit at depth. The recent drilling focused on resource upgrade as well as infill drilling between historical holes. The program gave the company's technical team valuable insights into the property geology, alteration and mineralization that will be applied to future regional exploration on the highly prospective and underexplored land package.

The Knife Lake deposit is a near-surface VMS deposit starting a few metres below surface, and the deposit remains open at depth and along strike for potential resource expansion. Recently, Rockridge announced a maiden National Instrument 43-101 resource estimate for the Knife Lake deposit (see the news release dated Aug. 14, 2019) which consisted of an indicated resource of 3.8 million tonnes at 1.02 per cent CuEq at a 0.4-per-cent CuEq cut-off (3.8 million tonnes at 0.83 per cent Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 parts per million Co, 1,740.7 parts per million Zn). In addition, there is an inferred resource of 7.9 million tonnes at 0.67 per cent CuEq at a 0.4-per-cent CuEq cut-off (7.9 million tonnes at 0.53 per cent Cu, 2.4 g/t Ag, 0.084 g/t Au, 53.1 ppm Co, 1,454.9 ppm Zn). Refer to the NI 43-101 technical report on the mineral resource estimate for the Knife Lake property, Saskatchewan, dated Sept. 27, 2019, filed on SEDAR.

Qualified persons

Kerry Bates, PGeo, a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and a geologist employed by TerraLogic Exploration Inc., has reviewed and approved the scientific and technical disclosure in this news release relating the Knife Lake project.

Todd Keast, PGeo, a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and the Raney gold project manager for Rockridge Resources Ltd., has reviewed and approved the scientific and technical disclosure in this news release relating to the Raney gold project.

About Rockridge Resources Ltd.

Rockridge Resources is a publicly traded mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada and other mining-friendly jurisdictions. The company's Knife Lake project is in Saskatchewan, which is ranked as one of the top mining jurisdictions in the world by the Fraser Institute. The project hosts the Knife Lake deposit, which is a VMS, near-surface copper-cobalt-gold-silver-zinc deposit open along strike and at depth. The company's Raney gold project is a high-grade gold exploration project located in the same greenstone belt that hosts the world-class Timmins and Kirkland Lake lode gold mining camps. Rockridge's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships and the advancement of exploration projects in geopolitically favourable jurisdictions.

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