Golden Ridge Resources Discovers New Copper Zone Near Schaft Creek with Grab Samples up to 5.29% Copper

GOLDEN RIDGE RESOURCES DISCOVERS NEW COPPER ZONE NEAR SCHAFT CREEK WITH GRAB

SAMPLES UP TO 5.29% COPPER

Kelowna, British Columbia – January 8, 2020 - Golden Ridge Resources Ltd. (“Golden Ridge” or the

“Company”) (TSXV: GLDN) is pleased to report a new ly discovered 4.5 kilometre long copper-in-soil

anomaly (the “Hickman Zone”) on its Ball Creek Property (“Ball Creek” or the “Property”), under option

from Evrim Resources Corp., which extends west onto claims 100% owned by Golden Ridge (the “Hickman

Claims”) (Figure 1). To date, only eleven reconnaissance soil lines (276 total soil samples, 14 rock samples)

have been completed and the anomaly rem ains open to the northwest. No historic work is recorded on

the anomalous zone which was targeted in 2019 to test a colour anomaly lying just 6 kilometres southwest

of Teck Resources/Copper Fox Metals’ 1.8 billion tonne Schaft Creek Cu-Mo-Au-Ag porphyry deposit and

30 kilometres northeast of Newmont Mining/Teck resources 800 million tonne Galore creek Cu -Au-Ag

deposit.1 Outcropping c opper mineralization was discovere d within the roughly 4.5 kilometre by 1.5

kilometre northeast-southwest trending corridor, with select grab samples assaying up to 5.29% Cu.

Highlights:

• ~4.5km by 1.5km zone of strong copper-in-soil.

• 6km from 1.8 billion tonne Schaft Creek Deposit1.

• Rock samples up to 5.29% Cu (5 rock samples > 0.5% Cu) and soil sample results up to 7,170ppm

Cu (11 soil samples >1000ppm Cu).

Table 1 – Hickman Zone Highlight Grab Samples*

SAMPLE ID SAMPLE TYPE Cu (%) Au (g/t) Ag (g/t)

HICK-CP-02 Outcrop Grab 5.29 0.28 6.29

S023217 Float Grab 0.57 0.03 1.28

S023230 Float Grab 1.45 0.12 6.01

S023231 Outcrop Grab 0.59 0.24 1.99

G0750759 Float Grab 2.48 0.06 4.04

*Note: the reader is cautioned that rock grab samples and their respective photographs are selective by

nature and may not represent the true grade or style of mineralization across the Property.

Photographs of the above highlight grab samples have been posted to Golden Ridge Resources Ltd.

website at: http://goldenridgeresources.com/projects/hickman-photos/

The Company plans to follow-up on the new Hickman discovery with additional grid-based soil sampling

as well as detailed mapping and prospecting with the aim of advancing the zone to a drill-ready stage.

1Adjacent Properties – This news release contains information about adjacent properties on which Golden

Ridge does not have the right to explore or mine. Investors are cautioned that mineral deposits on

adjacent properties are not indicative of mineral deposits on the Company’s properties.

QA/QC Procedures:

All soil samples were dried and sieved to -180 micron (80 mesh) at ALS Global’s prep facility in Terrace,

BC. After preparation in Terrace, the prepared pulps were shipped to ALS Global’s analytical laboratory in

North Vancouver, BC. All soil assays are determined by AuME-TL43 method. A 25g aliquot of the prepared

pulp is cold digested with HNO3, then HCl is added and the sample is heated at 130˚C for 40 minutes.

Digestion is carried out in disposable plastic bottles to eliminate cross -contamination from digestion

vessels and heated via graphite block for even heating. The resulting solution is analyzed via ICP -MS and

ICP-AES and is corrected for inter element spectral interferences. Any samples with an assay that reports

gold concentrations equal to or higher than 1.0 g/t Au are analysed by an overrange method (Au-AROR43).

All rock samples were prepared by crushing the entire sample to 70% passing -2mm, riffle splitting off 1

kilogram and pulverizing the split to better than 85% passing 75 microns. After preparation in Terrace, the

prepared pulps were shipped to ALS Global’s analytical laboratory in North Vancouver, BC. The gold assays

are determined by Au-AA26 fire assay method which reports results in parts per million (ppm) (equivalent

to grams per tonne (g/t)). Any samples with a fire assay that report gold concentrations equal to or higher

than 1 .0 g/t Au are analysed by screen metallic method (Au -SCR24). Base metal rock assays are first

determined using the ME-MS41 method, which reports results as parts per million (ppm). All analyses that

reach the overlimits of ME-MS41 are reanalyzed with an Ore Grade method.

All analytical results are verified with the application of industry standard Quality Control and Quality

Assurance (QA-QC) procedures.

Qualified Person:

Dr. Gerald G. Carlson, PhD, PEng, technical advisor to the Company, is the Qualified Person as defined by

National Instrument 43-101 who has reviewed and approved the technical data in this news release.

About Golden Ridge Resources:

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

properties located in British Columbia. Golden Ridge owns a 100% interest in the 1,700 -hectare Hank

copper-gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140

kilometres north of Stewart, British Columbia. It also has an option to earn 80% in the 52,442 Hectare Ball

Creek Project which surrounds the Hank property.

Golden Ridge Resources Ltd.

Mike Blady

Chief Executive Officer

Tel: (250) 768-1168

Website: www.goldenridgeresources.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, constitute "forward-looking information" as such term is used in

applicable Canadian securities laws. Forward -looking information is based on plans, expectations and estimates of

management at the date the information is provided and is subject to certain factors and assumptions, including:

that the Company's financial condition and development plans do not change as a result of unforeseen events, that

the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship

with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and

other factors that could cause plans, estimates and actual results to vary materia lly from those projected in such

forward-looking information. Factors that could cause the forward-looking information in this news release to change

or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prov e not to be

valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition

and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the

geology, gr ade and continuity of mineral deposits, the possibility that results will not be consistent with the

Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and

development activities and to the Company as set forth in the Company's Management’s Discussion and Analysis

reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward -looking

information will prove to be accurate, as actual results and future events could differ materially from those anticipated

in such statements. Accordingly, the reader should not place any undue reliance on forward -looking information or

statements. The Company undertakes no obligation to update forward-looking information or statements, other than

as required by applicable law.

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.