Dr. Len Brownlie reports

PROSPECT RIDGE STAKES ADDITIONAL TARGETS AT EXCALIBUR FOLLOWING SUCCESSFUL INITIAL DRILL PROGRAM

Prospect Ridge Resources Corp. has expanded its 100-per-cent-owned Excalibur copper-gold porphyry project. The company has submitted a staking application to the British Columbia Ministry of Mining and Critical Metals which, if successful, will allow the company to secure prospective new targets adjoining the Excalibur project.

The application submission is currently progressing through the ministry's standard review process and covers an additional 385.6 hectares. The targets covered by the new application were identified through reprocessing of an existing regional airborne magnetic survey and have magnetic responses similar to targets that were successfully tested during the first-ever drill program on the Excalibur property, completed by the company in July and August, 2026.

CEO comment

"Expanding our footprint at Excalibur is a logical next step following the highly encouraging visual indicators from our initial drilling program," stated Len Brownlie, PhD, chief executive officer of Prospect Ridge. "Intersecting over 500 metres of alteration in our very first hole gives us a very positive indication of the potentially significant scale of this porphyry system. While the current industry-wide rush at the assay labs requires a bit of patience, our geological team is very encouraged by what we are seeing in the core. We moved quickly to secure this adjacent ground to ensure we capture the full upside potential of this asset for our shareholders."

Drilling confirms key porphyry indicators

The first-ever drilling campaign on the Excalibur property targeted two large, high-priority magnetic and chargeability zones originally defined by a 2025 ground geophysical survey and further supported by anomalous copper and gold values in soil. Visual observations from the first two holes are consistent with discovery of a new porphyry system:

• Hole EXC26-001: intersected an impressive 515 metres of variably intense hydrothermal alteration and pyrite-dominant disseminated sulphide mineralization;
• Hole EXC26-002: positioned 948 metres northeast of the first hole, this drill hole successfully intersected localized, structurally controlled silicification in the upper 131 metres, followed by patchy potassic alteration over the lower 333 metres.

Assay results update

Core samples from both Excalibur holes were submitted to ALS laboratories in mid-August. Due to an unprecedented surge in sector-wide exploration activity, preparation and assay laboratories across the region are currently experiencing peak demand and limited capacity. While this industry-wide backlog has extended standard processing timelines, Prospect Ridge is working closely with the lab and looks forward to sharing the assay results as soon as they are finalized.

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

The road-accessible, 28-square-kilometre Excalibur tenure is located within British Columbia's Babine porphyry belt, near the past-producing Bell and Granisle mines, and the evolving discovery stories at the Nak (American Eagle Gold/Teck/South 32) and Duke (Boliden/Amarc Resources) projects. The Excalibur property hosts at least 12 compelling magnetic targets in the same geological host rocks and, where soil and IP data are available, these targets are supported by chargeability responses coincident with copper/gold-in-soil anomalies.

The inaugural, discovery-focused drill program tested two high-priority magnetic and chargeability targets defined by a 2025 ground geophysical survey and supported by copper- and gold-in-soil anomalies. A total of four drill pads were prepared for this program, and two holes were successfully drilled to depths of 515 and 464 metres, before the program was paused.

Visual observations of porphyry style alteration and sulphide mineralization over measured core lengths include:

Hole EXC26-001 was drilled to a depth of 515 metres and intersected variably intense, hydrothermal alteration and disseminated pyrite-dominant mineralization along its entire length. Alteration and mineralization occur in both felsic intrusive and intermediate volcanic host units and are interpreted as consistent with a porphyry-type system. Visual estimates indicate that sulphide mineralization consists mostly of pyrite, locally increasing over intervals of 10 and 20 centimetres and associated with minor amounts of chalcopyrite and molybdenite (see core photos in news release dated Sept. 10, 2026).

Hole EXC26-002 was collared 948 metres northeast of hole EXC26-001 and intersected patchy, structurally controlled silicification over approximately 70 metres within the interval from 11 to 131 m core depth, followed by localized, moderately pervasive potassic alteration over a combined 225 metres within the interval from 131 to 464 metre depth. Trace amounts of pyrite-dominant sulphide mineralization occur throughout the hole, primarily as quartz-pyrite and pyrite veins, with rare occurrences of chalcopyrite, galena and sphalerite.

Prospect Ridge considers the visual results from these first-ever drill holes at Excalibur to be a highly encouraging indication of the property's porphyry potential.

Core from both drill holes were cut in half and sampled from top to bottom, with one-half sent to ALS laboratories for geochemical assay and the other half kept in the core box as reference. Analytical results are still outstanding as of the date of this news release. Drill casings have been left in both holes to permit rapid and cost-effective drilling of deeper targets. Further announcements on the results of the program, including assay results and plans to resume drilling, will be announced once assays have been received and interpreted.

Multiple 2026 catalysts

Prospect Ridge has successfully completed phase 1 drilling at Excalibur and, subject to permit approvals and weather conditions, is actively executing additional exploration activities across its broader portfolio, including a follow-up Camelot drill campaign planned for Q4.

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

Investor outreach: new interview with the Ellis Martin Report

Management of Prospect Ridge has recently recorded a new interview with the Ellis Martin Report to discuss the company's exploration plans and Excalibur results. The interview is available on YouTube.

Prospect Ridge acknowledges that the Excalibur project is situated within the traditional territory of the Lake Babine 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.

The company emphasizes that visual descriptions of drill core including estimates on mineralization and other geological indicators are only qualitative and not quantitative.

Photographic and text representations of mineralization are intended solely to provide an indication of the geological environment and the presence of a sulphide mineralized and/or alteration system. Readers are strongly cautioned not to rely upon these visual observations as a definitive indicator of grade, thickness or mineral distribution. Core samples are in process at an independent laboratory for testing, which is the only reliable method to establish definitive metal grades.

Qualified person statement

All technical information that forms the basis for the written disclosure in this press release, has been approved by Ron Voordouw, PhD, PGeo, chief operating officer 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 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.

We seek Safe Harbor.