Dr. Len Brownlie reports

PROSPECT RIDGE AIMS FOR DISCOVERY: DRILLING BEGINS AT THE EXCALIBUR COPPER-GOLD PORPHYRY TARGET

Drilling has commenced at Prospect Ridge Resources Corp.'s 100-per-cent-owned Excalibur copper-gold porphyry project in British Columbia's prolific Babine porphyry district. The initial discovery drill program at Excalibur is a significant first step in evaluating this undrilled, two-square-kilometre, soil-covered geophysical and geochemical target that is interpreted as a potential altered and mineralized porphyry complex.

Why Excalibur is a target worth watching:

• Textbook porphyry signature: A recently completed induced polarization (IP) survey revealed a large chargeability feature, interpreted as a classic pyrite-bearing halo flanking a series of magnetic highs, interpreted as magnetite-rich potassic alteration. These geophysical targets are supported by elevated copper-in-soil values and peripheral outcrops of pyrite-bearing hornfelsed sediments marking a potential copper-bearing porphyry system.
• A large exploration fairway: The 28-square-kilometre, undrilled and only partly explored property, has delivered a two-square-kilometre coincident chargeability, magnetic and multielement soil anomaly that points to the potential for a buried porphyry-style system of a scale attractive to major mine developers.
• A prime address in a proven district: Excalibur sits within British Columbia's Babine porphyry belt, 60 to 70 kilometres from the past-producing Bell and Granisle mines and 40 to 50 kilometres from exciting new discoveries such as Duke (Amarc Resources Ltd. and Boliden Mineral Canada Ltd.) and Nak (American Eagle Gold Corp., Teck Resources Ltd. and South32 Ltd.), representing the newly highlighted potential of this belt.

Management comment

Prospect Ridge president and chief executive officer Dr. Len Brownlie, PhD, commented: "Excalibur is an exciting new porphyry target in an established mining district. Our team's preparations since January have allowed us to assemble a high-quality operations team, including Equity Exploration Consultants and Alpha Drilling, along with solid local support to conduct this program during a very busy summer field season. For our shareholders, this program could provide a potentially transformational event in the form of a discovery of a new Babine-style copper-gold porphyry system."

Program and next steps:

• Drill program under way: The company is targeting three to four drill collar locations for an initial approximately 1,500-metre program. Drill plans will be adjusted as new results drive exploration. An additional 1,500 metres of success-based drilling is also available to be deployed in 2026, dependent on results. Drilling commenced July 12, 2026, with updates and results to follow as the story unfolds.
• A rock-solid technical foundation: Recent induced polarization and magnetic vector inversion modelling, multielement soil geochemistry, and peripheral pyrite-mineralized outcrop support a compelling buried porphyry target.
• Expansion of the supporting data sets to identify additional targets: In anticipation of positive drilling results, the company is preparing to execute additional target development work in 2026, including expansion of the magnetic and IP data coverage and additional soil sampling across the 28-square-kilometre mineral claims package.

About the Excalibur property

On the Excalibur property, suspected Bulkley and Babine-aged felsic intrusions cut Cretaceous stratified rocks, comprising Skeena group clastic rocks to the west and Kasalka group andesitic rocks to the east. A 50-metre-to-500-metre-wide-by-greater-than-1,600-metre-long, east-west trending, Babine feldspar-plus-or-minus-hornblende-plus-or-minus-biotite porphyry dike has been affected by a complex pattern of alteration, ranging from unaltered to propylitic and phyllic assemblages. Several outcrops of quartz-feldspar porphyry and granodiorite to the west of the current target are believed to be apophyses of the Bulkley stock documented south of the Excalibur property. Copper, gold and molybdenum mineralization is indicated by anomalous soil values over the overburden-covered targets.

Historical work includes mapping, soil sampling and geophysical surveys (1971 to 1972 and 2019 to 2022); Prospect Ridge added to that foundation with additional soil sampling and a six-line IP survey in 2025. The target remains entirely undrilled, providing a rare, wide-open canvas in a district with a proven mineral endowment.

The case for a buried porphyry system at Excalibur is compelling: anomalous copper, molybdenum and gold in soils; strong IP chargeability; and a high magnetic response flanked by the chargeability high. Together, these geophysical and geochemical signatures may be interpreted as mineralized potassic alteration zone ringed by a pyrite halo -- closely mirroring the geological setting of the nearby Granisle and Bell Copper porphyry deposits of the Babine plutonic suite.

Financed and positioned for 2026 drilling

Prospect Ridge enters this program fully financed and permitted for this phase of planned work, driving toward key milestones, with further updates and assay results to follow as work advances. The company is also aggressively advancing two other projects in its portfolio in 2026, with drilling planned for the Camelot project in the third quarter, making this a potentially pivotal year for shareholders.

First nations land acknowledgment

Prospect Ridge acknowledges that Excalibur is situated within the traditional territory of the Lake Babine First Nation. Prospect Ridge is committed to developing positive and mutually beneficial relationships with first nations based on trust and respect and a foundation of open and honest communications.

Qualified person statement

All technical information that forms the basis for the written disclosure in this press release has been approved by Dr. 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 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 some of Canada's most underexplored yet geologically endowed mineral belts.

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