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Prospect Ridge Resources Corp
Symbol PRR
Shares Issued 28,505,001
Close 2022-11-23 C$ 0.16
Recent Sedar Documents

Prospect Ridge completes earn-in for Knauss Creek

2022-11-24 09:38 ET - News Release

Mr. Yan Ducharme reports

PROSPECT RIDGE RESOURCES OBTAIN 100% OF THE KNAUSS CREEK PROPERTY

Prospect Ridge Resources Corp. has completed its earn-in of a 100-per-cent interest in the Knauss Creek property. The flagship property Knauss Creek is located 35 kilometres (km) northeast of Terrace, B.C.

Prospect Ridge accelerated the 100-per-cent earn-in by incurring all $1-million of exploration expenditures within the first year of the option agreement and accelerating the issue of the remaining 700,000 shares due under the option agreement. Prospect Ridge started prospecting the property near the end of the 2021 field season and resumed during the 2022 summer. Some exploratory drill holes were also executed on the project.

The Knauss Creek property, which covers of about 3,190 hectares, contains the Dorreen mine, the Jay veins (previously called Mint2B) and Hugin showings, as well as a few historical others.

The company is currently compiling and waiting for the results for this summer's campaign.

Qualified person

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

About the Knauss Creek and Holy Grail properties

The fully owned Knauss Creek and optioned Holy Grail properties start about 10 kilometres north of the town of Terrace in British Columbia, Canada. They are easily accessible by two highways and a network of logging roads. They are contiguous and form a horseshoe covering about 730 square kilometres.

The southern tip of the Golden Triangle arrives just northwest of the properties. The Bowser Lake and the Hazelton groups hosting most of the deposits and mines of this area are also underlying the Knauss Creek and Holy Grail.

Several gold, silver, copper, lead and zinc occurrences where found in the past. The most notable is the Dorreen mine and, according to historical documents, around 700 tonnes of ore were mined out at an average grade of more than 10 grams per tonne (g/t) gold (Au).

The properties hold several interesting gold showings, sometimes with silver, copper, lead and zinc.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources 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 Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast underexplored region.

We seek Safe Harbor.

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