GLDN.V · 2018-08-14 12:00:00

Golden Ridge Drills a New Porphyry Cu-Au Discovery at Williams Zone; Hole HNK-18-001 Intersects 327 Meters Grading 0.31% Cu, 0.35 g/t Au, 1.94 g/t Ag; Additional Holes Drilled Along Strike Intersected Similar Mineralization, Additional Assays Pending

Drill Results

Golden Ridge Drills a New Porphyry Cu-Au Discovery at Williams Zone; Hole HNK-18-001 Intersects

327 Meters Grading 0.31% Cu, 0.35 g/t Au, 1.94 g/t Ag; Additional Holes Drilled Along Strike

Intersected Similar Mineralization, Additional Assays Pending

Kelowna, British Columbia – August 14, 2018 - Golden Ridge Resources Ltd. (“Golden Ridge” or the

“Company”) (TSXV: GLDN) is very pleased to announce a new alkalic Cu -Au porphyry discovery at its

Williams Zone prospect, located on the Company’s Hank project in BC’s golden triangle. HNK -18-001

intersected a broad interval of vein and disseminated Cu -Au-Ag mineralization, centered on a strongly

potassic altered monzonite intrusion. The newly discovered alkalic porphyry system is characterized by

bornite-chalcopyrite+/-digenite mineralized monzonite, intruding strong potassic altered intermediate

to mafic Stuhini volcanics hosting veined chalcopyrite and minor bornite mineralization. The steeply

dipping tabular monzonite intrusion has now been intersected in all four holes drilled in the Williams

Zone, indicating a strike of at least 200 metres. The Hydracore 2000 drills currently being utilized on the

Property have a maximum working depth of approximately 600 meters. The latest hole completed in the

Williams Zon e, HNK -18-007, ended in mineralized monzonite at 603.50 meters depth. Mineralization

appears to increase at depth. The system remains open along strike in both directions and at depth.

Assay results will be released as they are received. Photographs of min eralized intercepts from HNK -18-

001, for which assays have been received, as well as Williams Zone holes two and three (HNK -18-002

and HNK -18-005), for which assays are still pending, have been posted to the Company’s website. A

drilling plan view map (Fig ure 1) and cross -section (Figure 2) are presented below and have also been

posted to the Company’s website.

Highlights:

- New alkalic porphyry discovery has been intersected in multiple holes along a 200 meter strike

length to a depth of 585 meters below surface; open along strike and at depth.

- 0.31% Cu, 0.3 5 g/t Au, 1. 94 g/t Ag over 327.00 metres, from 72.00 to 399.00 metres in hole

HNK-18-001

o Including 0.45% Cu, 0.54 g/t Au, 3.33 g/t Ag over 75.10 metres from 105.00 to 180.10

metres.

o Including 0.45% Cu, 0.60 g/t Au, 2.90 g/t Ag over 62.50 meters from 259.50 to 322.00

meters

o Including 0.70% Cu, 0.90 g/t Au, 4.88 g/t Ag over 20 meters from 302.00 to 322.00

meters

- Potassic altered and mineralized monzonite has been intersected in the first four drills holes on

the Williams Zone, for which assays are pending for holes HNK-18-002, 005 and 007.

- The Williams Zone remains open along strike and at depth.

Table 1 – HNK-18-001 Significant Intercepts

Length (m)

Dip (deg) Hole ID From (m) To (m) Interval (m)1 Cu (%) Au (g/t) Ag (g/t)

425.81

-60o

HNK-18-001 72.00 399.00 327.00 0.31 0.35 1.94

incl. 105.00 180.10 75.10 0.44 0.54 3.33

incl. 259.50 322.00 62.50 0.45 0.60 2.90

incl. 302.00 322.00 20.00 0.70 0.90 4.88

1 The intervals reported in these tables represent drill intercepts and insufficient data is available at this time to state th e true thickness of

the mineralized intervals and all gold values are uncut.

Comment:

Chris Paul, Vice President of Explorati on fo r Golden Ridge, commented: "The size and grade of the

Williams Zone discovery are remarkable. Broad intervals of intense potassic alteration with bornite and

digenite indicate the presence of a large alkalic Cu -Au porphyry system at surface. Indications ar e that

only the top of the system has been intersected, including the presence of widespread phyllic (aka

quartz-sericite-pyrite) alteration at surface, which typically overlies porphyry Cu-Au systems, and exists

both above and lateral to the potassic altered monzonite at Williams. Copper mineralization also extends

for a considerable distance into the surrounding volcanic rocks, while the mineralized monzonite shows

good continuity along strik e and at depth. The initial magnetic survey conducted in 2017 suggested a

circular zone, 400 meters in diameter . It is now apparent that the mineralization forms a broad tabular

zone extending beyond at least the northern limit of the magnetic anomaly. The actual cause of the

circular magnetic anomaly remains unknown at this time, but is possibly a result of magnetite alteration

overlying a feeder stock at depth. We are very excited to continue testing the extens ions of the system

both along strike and at depth.”

IP Geophysical Survey on Williams Zone:

Two 3.0 km long IP lines, run on 250-meter centers across the Williams Zone have now been completed.

Processing of the field data is ongoing and preliminary results reveal a 0.8 km wide chargeability

anomaly, coincident with the ground magnetic anomaly at surface in the Williams Zone. The

chargeability anomaly plunges to the south , toward the Property’s lower alteration zone (LAZ) and

expands to over 1.6 km in width . Initial interpretations suggest that the quartz-sericite-carbonate-pyrite

alteration constituting the LAZ may represent a large alteration halo overlying the southern extension of

the Williams Cu-Au porphyry. The target remains open to the south, north and at depth, off the IP grid.

Additional lines are currently being planned.

Table 2 – Collar Information

Hole ID Assays UTM 83E UTM 83N Elevation Azimuth Dip Length (m)

HNK-18-001 Received 409367.9 6343935 1062 100 -60 425.81

HNK-18-002 Pending 409584.5 6343829 946.6 275 -60 453.24

HNK-18-005 Pending 409584.5 6343829 946.6 330 -60 550.77

HNK-18-007 Pending 409247.9 6343876 1070 45 -60 603.5

Quality assurance/quality control procedures:

All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment

to MS Analytical’s sample preparation facility in Terrace, B.C., certified reference material standards,

blanks and field duplicates were inserted at a ratio of approximately one in every 20 drill core samples.

Samples were prepared in Terrace by crushing the entire sample to 70 per cent passing minus two

millimetres, riffle splitting off one kilogram and pulverizing the split to better than 85 per cent passing

75 microns. After preparation in Terrace, the prepared pulps were shipped to MS Analytical’s analytical

laboratory in North Vancouver, B.C. The gold assays are determined by FAS-111 fire assay method which

reports results in parts per million (equivalent to grams per tonne). Any samples with a fire assay that

report gold concentrations equal to or higher than 10.0 g/t Au are analyzed by metallic screen method

(Au-SCR24).

Base metal assays are determined by IMS-230 4-acid digestion with ICP -AES/MS finish method , which

reports results as parts per million (ppm). All analyses that reach the overlimit of IMS-230 are reanalyzed

with an ore -grade method. The analytical results are verified with the application of industry -standard

quality control and quality assurance procedures.

Qualified Person

Exploration activities at the Hank Property are being supervised by Wade Barnes, the Company’s Project

Geologist and a Qualified Person as defined by National Instrument 43 -101. Wade Barnes is a PGeo

registered with the Association of Professional Engineers and Geoscientists of British

Columbia (APEGBC) and has verified the data, reviewed and approved this news release.

About Golden Ridge Resources:

Golden Ridge is a TSX -V listed exploration company engaged in acquiring and advancing mineral

properties located in British Columbia . Golden Ridge currently has an option to acquire a 100% interest

in the 1,700 -hectare Hank gold -silver-lead-zinc property located in the Golden Triangle district,

approximately 140 kilometres north of Stewart , British Columbia. Golden Ridge may earn the 100%

interest in the Hank property by performing $1.7 M of exploration work by the end of 2018. For more

information please contact:

Golden Ridge Resources Ltd.

Mike Blady

Chief Executive Officer

Tel: (250) 768-1168

Website: www.goldenridgeresources.com

Cautionary Statement Regarding Forward Looking Statements

This release includes certain statements that may be deemed to be "forward -looking statements". All

statements in this release, other than statements of historical facts, that address events or developments

that management of the Company expects, are forward-looking statements. Although management believes

the expectations expressed in such forward -looking statements are based on reasonable assumptions, such

statements are not guarantees of future performance, and actual results or developments may differ

materially from those in the forward -looking statements. The Company undertakes no obligation to update

these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should

change. Factors that could cause actual results to differ materially from those in forward-looking statements,

include market prices, exploration and development successes, continued availability of capital and

financing, and general economic, market or business conditions. Please see the public filings of the Company

at http://www.sedar.com/ for further information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

409300 E

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Figure 2. Hank

Project Cross-

Section A-A’

News Release 08-14-2018

100m

1.29g/t

1.28g/t

Stuhini Volcanic Rocks

Mineralized Monzonite

LEGEND

HNK-18-001

327m of 0.31% Cu, 0.35g/t Au, 1.94g/t Ag

75.10m of 0.44% Cu, 0.54g/tAu, 3.33g/t Au

incl.

62.50m of 0.45% Cu, 0.60g/tAu, 2.90g/t Au

20m of 0.70% Cu, 0.90g/tAu, 4.88g/t Au

425.8 m

HNK-18-001

Lim

it of Potassic Alteration

327m of 0.31%Cu, 0.35g/t Au, 1.94g/t Ag

incl.

75.10m of 0.44%Cu, 0.54g/t Au, 3.33g/t Ag

62.50m of 0.45%Cu, 0.60g/t Au, 2.90g/t Ag

20m of 0.70%Cu, 0.90g/t Au, 4.88g/t Ag

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