Mr. Len Brownlie reports

PROSPECT RIDGE TO EXECUTE AGGRESSIVE 2026 EXPLORATION PROGRAM

Prospect Ridge Resources Corp. is advancing a catalyst-rich 2026 exploration season with discovery drill programs planned at both the Excalibur and Camelot copper-gold porphyry projects in British Columbia, and target development work planned at the Castle copper-gold porphyry project in the Toodoggone.

2026 exploration program highlights:

• Excalibur: High-priority magnetic and chargeability targets defined by a ground geophysical survey in 2025, and supported by highly anomalous copper and gold values in soil are planned to be tested by an inaugural 3,000-metre discovery-focused drill program in summer 2026. A multiyear area-based (MYAB) drilling permit is expected imminently.
• Camelot: Drilling results from 2025 provide vectors to potential mineralized porphyry centres and drone-based lidar (light detection and ranging) and magnetic surveys are under way to support target refinement for a planned 2,000-metre follow-up drill program in Q2/Q3 (second quarter/third quarter) 2026. An MYAB drill permitting is in process.
• Castle: Machine learning-based satellite hyperspectral alteration mapping is nearing completion to support a grid rock sampling program designed to vector toward mineralized alkalic centres. The sampling will be completed in parallel with a 3-D IP (induced polarization) survey to define high-priority drill targets. An MYAB drilling permit is in process now to support 2027 drill testing.

Len Brownlie, PhD, president and chief executive officer of Prospect Ridge, commented:

"Prospect Ridge enters 2026 with a new team, three great projects and exceptional momentum. Last year's programs delivered compelling copper-gold targets across multiple projects, highlighted by the discovery of a new copper-gold porphyry system at Camelot and the identification of a large-scale, multicentre target at Excalibur. With over $2.0-million of funding in place, multiple near-term drill catalysts and a market capitalization below $6-million, we believe the company is uniquely positioned for significant discovery-driven torque."

2026 exploration plans

Excalibur -- large-scale Babine copper-gold porphyry target

The road-accessible, 28-square-kilometre Excalibur tenure is located in B.C.'s prolific Babine porphyry belt near the past-producing Huckleberry, Bell and Granisle mines. The property hosts a compelling one-kilometre-by-two-kilometre chargeability and magnetic target that is coincident with a large copper-gold soil anomaly (1).

Prospect Ridge has completed all required archaeological, wildlife and ancillary permitting work in support of a planned 3,000-metre discovery drill program and anticipates final MYAB permit approval in the coming weeks.

Camelot -- Cariboo discovery follow-up program

In 2025, Prospect Ridge acquired a 100-per-cent (2) interest in the 26-square-kilometre Camelot tenure, located near Imperial Metals' Mount Polley mine and surrounded by the Vizsla Copper Woodjam property in the Cariboo mining district in B.C. (3). The initial exploration program intersected what could be the edge of a new copper-gold mineralized porphyry system, with follow-up modelling defining vectors to higher-temperature alteration and mineralization. CAM25-009 from the initial drill campaign returned anomalous copper and gold over a 157-metre core length grading 0.1 gram per tonne (g/t) gold and 0.1 per cent copper starting at the top of bedrock below the overburden cover. The alteration mineralogy and IP geophysics are consistent with an interpretation that drilling intersected the margin of a porphyry system. Importantly, all 10 drill holes returned anomalous copper and gold values, supporting the scale of the system across the property. Au-to-Cu (gold-to-copper) ratios, determined from core assays, show a 1:1 positive correlation, between gold (g/t) and copper (per cent) grades, and confirm that gold may represent a meaningful byproduct of copper mineralization (3).

In May, the company initiated a property-wide lidar and magnetic drone survey expected to enhance drill target refinement ahead of a follow-up drill program later in Q2/Q3 2026. In June, a focused core review now in progress is expected to provide additional detailed targeting insights.

Recent announcements by Imperial Metals Corp. (Mount Polley) (5), Viszla Copper Corp. (Woodjam project) (6) and Inomin Mines Inc./Sumitomo Metal Mining Canada Ltd. (Beaver/Lynx) (7) of exploration drilling campaigns on projects surrounding Camelot point to increasing exploration momentum across the district and highlight growing recognition of the region's discovery potential.

Castle -- Emerging Toodoggone porphyry target

At the 29-square-kilometre Castle tenure in the highly prospective Toodoggone mining camp, Prospect Ridge continues to advance a large alkalic porphyry target beneath an intensely altered and leached (lithocap) zone associated with coincident magnetic, chargeability and copper-gold-in-soil anomalies (4).

Current and planned work includes:

• Machine learning-based satellite hyperspectral alteration mapping by ALS Goldspot that is nearing completion and will be used to map alteration minerals associated with copper-gold porphyry mineralization and define geologic domains in advance of fieldwork;
• A grid rock sampling, spectroscopy and petrography program designed to define the footprints of and vectors toward mineralized alkalic porphyry centres;
• A distributed array IP survey to better define identified chargeable zones related to sulphide mineralization and assist in definition of high-quality drill targets.

The company has applied for an MYAB drill permit in preparation for a 2027 drill program on the highest-priority targets.

Financed with multiple 2026 catalysts

Subject to permit approvals and weather conditions, Prospect Ridge expects to begin drilling at Excalibur during early summer 2026, followed by additional exploration activities across its broader portfolio and a follow-up Camelot drill campaign in Q2/Q3.

With active exploration across three flagship projects, multiple high-priority targets and strong technical momentum, Prospect Ridge is positioned for a transformational year in 2026.

Investor outreach

Management of Prospect Ridge has recently recorded a new corporate video with Martin Gagel of Radius Research that is now available on the company's website and that provides further details on the company's plans for 2026.

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

• Castle: Tahltan First Nation and Tsay Keh Dene First Nation;
• Excalibur: Lake Babine First Nation;
• Camelot: Williams Lake First Nation, Xatsull First Nation, Neskonlith Indian Band, North Shuswap Tribal Council and Whispering Pines/Clinton 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, and local communities based on trust, transparency and collaboration.

Qualified person statement

All technical information that forms the basis for the written disclosure in this news release has been approved by Ron Voordouw, PhD, PGeo, director of geoscience for Equity Exploration Consultants Ltd., who is an independent consultant to the company and a qualified person as defined under the terms of National Instrument 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge 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.

Notes:

(1) See Prospect Ridge news releases dated Oct. 9, 2025, and Jan. 23, 2026.

(2) Subject to underlying NSR (net smelter return) royalties of 0.25 to 1.25 per cent.

(3) See Prospect Ridge news release dated Jan. 22, 2026, and Feb. 25, 2026.

(4) See Prospect Ridge news releases dated July 2, 2025, Oct. 9, 2025, and Jan. 13, 2026.

(5) See Imperial Metals news release dated Feb. 10, 2026.

(6) See Viszla Copper news release dated May 19, 2026.

(7) See Inomin Mines news release dated June 11, 2026.

We seek Safe Harbor.