Mr. Steve Balch reports

SPRUCE RIDGE RESOURCES LTD. ACQUIRES MINING CLAIMS AT EIGHT DOLLAR MOUNTAIN IN OREGON

Spruce Ridge Resources Ltd. has staked several mining claims at Eight Dollar Mountain, an area containing nickel laterite located in southwest Oregon, United States.

Steve Balch, president and chief executive officer, stated: "Eight Dollar should be considered a grassroots property, but we know it contains nickel laterite from historic exploration. We now have four properties in Oregon, two with historical nickel resources (Cleopatra and Red Flat), one with nickel sulphide intersections in drill core (Shamrock) and now more nickel laterite at Eight Dollar. We also retain our interest in the Great Burnt copper, and South Pond copper and gold properties in Newfoundland, currently under option to Benton Resources, and are one of Benton's largest shareholders."

Eight Dollar

Eight Dollar is located in Josephine county, southwest Oregon, just west of the town of Selma. A total of 115 mining claims were staked totalling 962 hectares (2,376 acres) covering most of the west side of the mountain. Information on Eight Dollar dates to 1942 when it was explored by the Freeport Sulfur Company. The area contains several discovery pits and shallow shafts. Over the years, discovery pits were enlarged, and access roads installed with some bulk samples taken by backhoe. The area was assessed as recently as 2018 by the Department of Geology and Mineral Inventories (DOGAMI). Commodities include nickel, cobalt and molybdenum. Several occurrences of nickel laterite have been mapped over a wide area at Eight Dollar, including within the claims staked by Spruce.

Qualified person

Stephen J. Balch, PGeo (Ontario), the company's president and chief executive officer, and a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this press release.

About Spruce Ridge Resources Ltd.

Spruce Ridge is a Canadian-based mineral exploration company focused on critical metal resources with nickel projects in Oregon, United States, and copper and gold projects in Newfoundland, Canada. The company also holds a significant portfolio of mining securities, including 3.6 million shares of Canada Nickel Company Inc., 10 million shares of Noble Mineral Exploration Inc., 15 million shares of Benton Resources Inc. and 2.5 million shares of Magna Terra Minerals Inc.

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