Mr. Blaine Monaghan reports

PACIFIC RIDGE CLOSES HARD DOLLAR AND TRADITIONAL FLOW-THROUGH PORTIONS OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$4.5 MILLION

Pacific Ridge flow-through has closed the initial tranche of its previously announced private placement for gross proceeds of $4,516,800.02 from the sale of: (i) 9,920,000 hard-dollar units at a price of 20 cents per hard-dollar unit; and (ii) 11,012,174 flow-through units at a price of 23 cents per flow-through unit.

The charitable flow-through portion of the offering, which the company anticipates will be completed in early July, will be increased to comprise up to 13.4 million charity flow-through shares at a price of 29.4 cents per charity flow-through shares for gross proceeds of up to $3,939,600.

Each hard-dollar unit consists of one common share and one-half of one common share purchase warrant. Each flow-through unit consists of one 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 warrant that will also qualify as a flow-through share within the meaning of the Income Tax Act.

Each warrant entitles the holder to purchase one common share of the company at a price of 30 cents at until June 26, 2028.

The gross proceeds from the flow-through shares will be used for drilling at the Kliyul copper-gold project located in British Columbia. The net proceeds from the hard-dollar units will be used for general working capital and corporate purposes.

The gross proceeds from the sale of flow-through units 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 and flow-through mining expenditures as defined in Subsection 127(9) of the income tax act. Such qualifying expenditures will be renounced on a pro rata basis to each subscriber for flow-through units with an effective date of no later than Dec. 31, 2026, in accordance with the income tax act.

As consideration for arranging the offering, the company has paid finders' fees comprising a cash commission in the aggregate amount of $165,428 and warrants exercisable to purchase up to 735,730 common shares at a price of 30 cents until June 26, 2028.

The securities of the company issued from the sale of such hard-dollar units and flow-through units and any warrant shares and finder warrant shares issued upon exercise of the warrants and the finder warrants are subject to a statutory hold period and may not be traded until Oct. 27, 2026, except as permitted by applicable securities legislation and the policies of the TSX Venture Exchange.

About Pacific Ridge Exploration Ltd.

Pacific Ridge, a Fiore Group company, aims to become British Columbia's leading copper exploration company. The Kliyul copper-gold project, located in the prolific Quesnel terrane close to existing infrastructure, is the company's flagship project. In addition to Kliyul, Pacific Ridge's project portfolio includes the RDP, Onjo and Redton copper-gold projects, all located in British Columbia. The company acknowledges that its British Columbia projects are located in the traditional, ancestral and unceded territories of the Gitxsan Nation, McLeod Lake Indian Band, Nak'azdli Whut'en, Takla Nation and Tsay Keh Dene Nation.

We seek Safe Harbor.