Vancouver, B.C. – November 23, 2023 - Pacific Ridge Exploration Ltd. (PEX: TSX Venture; PEXZF: OTCQB; PQWN: FSE) ("Pacific Ridge" or the "Company”) is pleased to announce results from this year’s diamond drill campaign at the RDP copper-gold project (“RDP” or the “Project”), located in northcentral British Columbia, 40 km west of the Company’s flagship Kliyul copper-gold project (“Kliyul”) (see Figure 1). Antofagasta Minerals S.A. (“Antofagasta”), a wholly owned subsidiary of Antofagasta PLC (ANTO: LSE), can earn a 75% interest in RDP by spending $10,000,000 on exploration over eight years and delivering a preliminary economic assessment report (See news release dated February 8, 2022). Pacific Ridge is the operator and supported the diamond drill program from Kliyul camp.

The 2023 diamond drilling program at RDP totaled 1,428 metres in three drill holes (RDP-23-007 to RDP-23-009) and tested the Day target (“Day”) and the Bird target (“Bird”) (see Figure 2). Two drill holes were completed at Day (RDP-23-007 and RDP-23-008) where drill hole RDP-22-005 returned 107.2 m of 1.39% copper equivalent* (“CuEq”) or 2.06 g/t gold equivalent**(“AuEq”) (0.63% copper, 1.10 g/t gold, and 2.91 g/t silver) within 497.2 m of 0.66% CuEq or 0.97 g/t AuEq (0.37% copper, 0.40 g/t gold, and 1.60 g/t silver) (see news release dated October 25, 2022). The two holes completed at Day were large step-outs over 300 m to the northeast and northwest from the collar location for RDP-22-005. In addition, a single diamond drill hole tested Bird (RDP-23-009), located approximately 2.0 km north of Day, where Pacific Ridge discovered porphyry copper-gold mineralization in a stream cutbank in 2022.

Highlights

· Drill hole RDP-23-007 at Day ended in strong porphyry copper-gold mineralization: 19.0 m of 0.45% CuEq* or 0.67 g/t AuEq** (0.32% copper, 0.19 g/t gold, and 1.08 g/t silver) (see Table 1). see & read more on
https://pacificridgeexploration.com/news-releases/pacific-ridge-hits-porphyry-copper-gold-mineralization-in-all-three-diamond-drill-holes-completed-at-the-rdp-copper-gold-project/