Pacific Ridge Exploration Ltd announced a non-brokered private placement to issue non-flow through units at an issue price of CDA 0.07 per unit, flow-through units at an issue price of CAD 0.08 per unit and charity flow-through unit for the gross proceeds of CAD 0.115 per unit for the gross proceeds of CAD 2,000,000 on May 23, 2024. Each Unit will consist of one common share and and one Common Share purchase warrant and Each FT Unit and Charity FT Unit will consist of one Common Share and one Warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.12 for a period of 24 months following the issue date of the Offered Security.

The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange (the "TSXV"). Finder's fees will be payable in accordance with the policies of the TSXV. The securities issued under the Offering will be subject to a hold period ending on the date that is four months plus one day following the date of issue in accordance with applicable securities laws.