Mr. Blaine Monaghan reports

PACIFIC RIDGE CLOSES FINAL TRANCHE OF C$8.5 MILLION FINANCING

Pacific Ridge Exploration Ltd., further to its news release dated June 26, 2026, has closed the final tranche of its previously announced private placement for aggregate gross proceeds of $8,456,400.02.

The total offering comprises: (i) 9.92 million hard-dollar (HD) units at a price of 20 cents per HD unit for gross proceeds of $1,984,000; (ii) 11,012,174 flow-through (FT) units at a price of 23 cents per FT unit for gross proceeds of $2,532,800.02; and (iii) 13.4 million charity flow-through (CFT) shares at a price of 29.4 cents per CFT share for gross proceeds of $3,939,600. The final tranche closed earlier today.

The company understands that following the closing of the final tranche, Minsur S.A., a leading Peruvian mining company, through its subsidiary, Cumbres del Sur S.A.C., has purchased, as part of a follow-on transaction to the issuance of the CFT shares, all of the common shares issued under the final tranche. Following completion of this transaction, Minsur, through its subsidiary, Cumbres, owns approximately 13.8 per cent of the issued and outstanding common shares of the company (on a basic basis).

"I'm very pleased to welcome Minsur as our newest and largest shareholder," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "Their investment is a strong endorsement of our projects, our team and our goal of becoming B.C.'s leading copper exploration company. With more than $9.0-million in the treasury, Pacific Ridge is well placed to continue advancing both the Kliyul copper-gold project and the RDP copper-gold project."

Jose Vizquerra, chief strategy and growth officer of Minsur, commented: "This investment reflects Minsur's conviction in the RDP copper-gold porphyry project and in the quality of British Columbia as a Tier 1 mining jurisdiction. We look forward to the results of Pacific Ridge's 2026 exploration program."

The company will use an amount equal to the gross proceeds from the sale of the CFT shares under the offering to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures (as both terms are defined in the Income Tax Act (Canada)), in respect of the company's projects in Canada. The qualifying expenditures will be incurred on or before Dec. 31, 2027, and will be renounced by the company to the initial purchasers of the CFT shares with an effective date no later than Dec. 31, 2026.

All securities issued under the offering are subject to a hold period expiring four months and one day from the date of issuance, pursuant to applicable Canadian securities laws. The offering remains subject to final acceptance of the TSX Venture Exchange.

The company has entered into an investor rights agreement (RA) with Cumbres, pursuant to which, subject to the terms and conditions of the IRA, and for so long as Cumbres and its affiliates hold at least 5.0 per cent of the issued and outstanding common shares of the company, the company has granted Cumbres: (i) a participation right to maintain its proportionate shareholding in the company in connection with future equity financings and non-cash transactions; (ii) a top-up right to subscribe for additional common shares following dilutive issuances; (iii) the right to receive participation rights substantially equivalent to those granted to any third party in connection with the purchase of the company's equity securities; and (iv) access to technical information regarding the company's RDP copper-gold project. The IRA will terminate when Cumbres's ownership falls below 5.0 per cent of the outstanding common shares of the company.

The company has also entered into a right of first refusal (ROFR) agreement with Cumbres, pursuant to which, subject to the terms and conditions of the ROFR agreement: (i) the company has granted Cumbres a right of first refusal, for a period of nine months, to acquire the RDP copper-gold project; and (ii) the parties have agreed to engage in good faith negotiations regarding a potential strategic transaction in respect of the RDP copper-gold project.

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 B.C. 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.