PEX.V · 2022-09-27 12:00:00

Pacific Ridge Completes 2022 Drill Program at the Kliyul Copper-Gold Project; Expands Kliyul Porphyry Copper-Gold Footprint

Exploration Programs

Pacific Ridge Completes 2022 Drill Program at

the Kliyul Copper-Gold Project; Expands Kliyul

Porphyry Copper-Gold Footprint

Vancouver, British Columbia--(Newsfile Corp. - September 27, 2022) - Pacific Ridge Exploration Ltd.

(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that it has

completed the 2022 diamond drill program at the Kliyul copper-gold porphyry project ("Kliyul" or

"Project"), located in the prolific Quesnel Trough in northcentral British Columbia (see Figure 1). The

Company completed 7014.7 m of drilling in 12 holes, the largest ever drill program at the Project, and

successfully expanded the known Kliyul porphyry copper-gold footprint.

"Our technical team has done an outstanding job identifying and unlocking Kliyul's promise," said Blaine

Monaghan, President & CEO of Pacific Ridge. "This year's results could demonstrate Kliyul's potential to

host a significant copper-gold porphyry deposit."

Highlights

All 12 drill holes encountered porphyry copper-gold style mineralization consisting of sulphide

minerals pyrite, chalcopyrite and lesser bornite;

Successfully expanded the known Kliyul porphyry copper-gold footprint and related hydrothermal

system to approximately 1,400 m east-west by 400 m north-south; and

Geophysics suggest that a large, underexplored porphyry system underlies the Valley Fault Trend.

Drilling Summary

All 12 drill holes encountered porphyry copper-gold style mineralization consisting of sulphide minerals

pyrite, chalcopyrite and lesser bornite (see Figure 2), in early-to transitional-stage veins and as

disseminations within a kilometre-plus scale Late Triassic/Early Jurassic paleo-hydrothermal system

centered on a multi-stage diorite porphyry intrusive dyke/plug complex. Step-out drilling to the south,

west, east, and north of the Kliyul Main Zone ("KMZ") successfully expanded the known Kliyul porphyry

copper-gold footprint and related hydrothermal system to approximately 1,400 m east-west by 400 m

north-south, following the east-northeast trending Valley Fault, and obliquely crossing Valley Fault to the

north (see Figures 3 and 4).

In addition to KMZ, four additional zones, interpreted as separate fault blocks, have been defined along

the Valley Fault Trend. KMZ is considered the highest standing block surrounded by downthrown blocks

with good deposit preservation potential. From west to east these include Kliyul West, East Wedge,

Kliyul East, and Kliyul North.

These fault block zones lie within a broad coincident geophysical anomaly that was more clearly defined

with a high-resolution helicopter-borne magnetic gradient, radiometric, and VLF-EM survey completed

by Precision GeoSurveys Inc. in 2022, comprising 423 line-kilometers flown at 75 m line-spacing. The

combined Kliyul geophysical anomaly now includes an approximately 1,200 x 800 m east-northeast

trending ring-shaped K/eTh radiometric anomaly; an approximate 800 x 500 m high magnetic anomaly

underlying KMZ and parts of Kliyul West and East Wedge; an outer moderate magnetic anomaly greater

than one 1-km in diameter; and an arc-shaped combined high chargeability and moderate-high

resistivity anomaly that spans the Kliyul system across all four zones (see Figures 5 and 6). The

magnetic, chargeability and resistivity anomalies are open at depth below 360 m.

Combined, the

geophysics suggest that a large, underexplored porphyry system underlies the Valley Fault Trend.

In addition to the drill program in the KMZ area, Pacific Ridge advanced several other interpreted

porphyry centres that occur along an under-explored 4 km long northwest-trending corridor of quartz-

sericite-pyrite (phyllic) alteration. The Company completed a 27 line-kilometre Induced Polarization (IP)

survey at 200 m spacing across the Ginger zone, Parish Hill/Bap Ridge zone, and M-39 zone (see

Figure 7). Pacific Ridge also conducted a mapping and rock geochemical sampling program over the

same areas. The Company plans to drill-test several of these targets in 2023.

Initial drill results from the 2022 drill program are expected in October.

Figure 1

Location of Kliyul