Pacific Ridge Exploration Ltd. announced the remaining results from the 2022 drill program completed at the RDP copper-gold project, including drill hole RDP-22-003, which returned 59.4 m of 1.68% copper equivalent from the Day Zone. RDP is located in northcentral British Columbia, 40 km west of the Company's Kliyul copper-gold project. Pacific Ridge completed 1,860 m of drilling in six holes at RDP. Holes RDP-22-001 to RDP-22-005 were drilled at the Day Zone and RDP-22-006 at the Roy Zone. The drill program was funded by Antofagasta Minerals S.A., a subsidiary of Antofagasta PLC, who can earn a 75% interest in the Project by spending $10,000,000 on exploration over eight years and delivering a preliminary economic assessment report. Last drilled in 2011, this was the Company's first ever drill program at the Project. Highlights of the 2022 Exploration Program: Hole RDP-22-005 intersected 107.2 m of 1.45% CuEq (0.63% Cu, 1.10 g/t Au, and 2.91 g/t Ag) within 497.2 m of 0.68% CuEq (0.37% Cu, 0.40 g/t Au, and 1.6 g/t Ag), from surface (previously reported, see news release dated October 25, 2022, for further information); Hole RDP-22-003 intersected 59.4 m of 1.68% CuEq (0.78% Cu, 1.2 g/t Au, and 2.99 g/t Ag) from surface; Hole RDP-22-001 intersected 51.5 m of 1.01% CuEq (0.51% Cu, 0.65 g/t Au and 2.59 g/t Ag) from surface; The Day Zone mineralization remains open to the east, north, west, and at depth, and may be associated with a late-mineral bounding fault on its south or southwest side. Discussion of Drill Holes RDP-22-001 to RDP-22-005 at the Day Zone: Pacific Ridge completed five drill holes, totaling 1,392-metres, from a single drill pad at the Day Zone. A single drill pad was used for logistical reasons and to support an initial test of ideas regarding the orientation of the surface showing following prospect scale mapping. The Day Zone consists of a 100 x 150 m rusty weathering, malachite stained, outcrop protruding from a boulder talus slope. Porphyry Cu-Au-Ag mineralization is hosted in a composite, hornblende-plagioclase sub-porphyritic diorite stock that intruded polymictic volcano-sedimentary rocks of the Hazelton Group (Telkwa Formation). Mineralization at surface is primarily chalcopyrite, with coarse blebby bornite noted in potassic alteration zones. Chalcopyrite occurs as disseminated blebs in groundmass, as disseminated grains on tight fractures, filling the centerline of quartz and quartz-magnetite veins (QMS veins), or as coarse replacements up to 5x10 cm in size. RDP-22-001 (azimuth 180¦, inclination -80¦) tested the Day Zone steeply to the south. Potassic altered and mineralized diorite was intersected to 61 m depth followed by late-mineral diorite, andesite and gabbro dykes and magnetite-chlorite altered volcaniclastic andesite host rock to 96 m. From 96-120 m, drilling intersected a phyllic altered and pyrite mineralized sheared tuff-breccia unit and continued in
hematite-carbonate altered Telkwa Formation volcaniclastic rocks to end-of-hole. Drilling was shut down at 240 m. RDP-22-002 (azimuth 180¦, inclination -60¦) tested the Day Zone shallowly to the south. Potassically altered, Cu-sulfide mineralized and QMS veined diorite was intersected to 48 m. From 48-95 m, a chlorite-sericite altered late-mineral diorite with faulted contacts was encountered. The remainder of the drill hole was in volcaniclastic andesite of the Telkwa Formation and was shut down at 138 m. RDP-22-003 (azimuth 102¦, inclination -45¦) tested the continuity of the early-mineral diorite and Cu-sulphide mineralization shallowly to the southeast. Potassically altered, Cu-sulfide mineralized and QMS veined diorite was intersected to 73 m. The remainder of the drill hole was in late-mineral chlorite-sericite altered diorite and was shut down at 141 m. RDP-22-004 (azimuth 60¦, inclination -45¦) tested the continuity of the early-mineral diorite and mineralization shallowly to the northeast. Potassically altered, Cu-sulfide mineralized and QMS veined diorite was intersected to 73 m, followed by Cu-sulfide mineralization associated mainly with quartz-carbonate veining to 276 m. From 73 m to 263 m the host rock is described as either a polymictic breccia or breccia related to monzodiorite porphyry obscured by potassic alteration. Hematite is noted with magnetite in the potassic assemblage after 238 m. Host volcaniclastic rocks with phyllic and propylitic alteration overprints were intersected starting at 263 m. Drilling was shut down at 360 m. RDP-22-005 (azimuth 60¦, inclination -70¦) tested the geometry of Cu-sulfide mineralized early diorite and magmatic-hydrothermal breccia units more steeply to the northeast. See news release dated October 25, 2022, for further information. Modelling of drilling results suggest a generally east-west trending, steeply north-dipping porphyry Cu-Au system that remains open to the east, north, west, and at depth. The model is preliminary at this stage and not well constrained. The system appears to be cut-off on the south or southwest by a fault structure with late-stage dykes having exploited the same structure.