Pacific Ridge Intersects 113.0 M of 0.48% Copper Equivalent or 0.71 g/t Gold Equivalent Within 485.7 M of 0.27% Copper Equivalent or 0.40 g/t Gold Equivalent at the Kliyul Copper- Gold Project
Pacific Ridge Intersects 113.0 M of 0.48%
Copper Equivalent or 0.71 g/t Gold Equivalent
Within 485.7 M of 0.27% Copper Equivalent or
0.40 g/t Gold Equivalent at the Kliyul Copper-
Gold Project
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2023) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) (FSE: PQWN) ("Pacific Ridge" or the "Company") is pleased to
announce results from diamond drill holes KLI-23-059 to KLI-23-062 from this year's exploration program
at the Kliyul copper-gold porphyry project ("Kliyul" or "Project"). Drill hole KLI-23-062 returned 113.0 m of
0.48% copper equivalent ("CuEq") or 0.71 g/t gold equivalent ("AuEq") (0.22% copper, 0.36 g/t gold,
and 1.65 g/t silver) within 485.7 m of 0.27% CuEq or 0.40 g/t AuEq (0.15% copper, 0.17 g/t gold, and
0.89 g/t silver). Kliyul is located in the prolific Quesnel Terrane in northcentral British Columbia close to
existing infrastructure (see Figure 1).
Pacific Ridge completed a total of 19 diamond drill holes (KLI-23-051 to KLI-23-069) totaling 10,284
metres at Kliyul this year, the largest ever exploration program at the Project. The Company announced
drill results for holes KLI-23-051 to KLI-23-054 in August with drill hole KLI-23-054 returning 305.5 m of
0.59% CuEq or 0.87 g/t AuEq (0.23% copper, 0.51 g/t gold, and 1.22 g/t silver) (see news release dated
August 23, 2023). Pacific Ridge announced drill results for holes KLI-23-055 to KLI-23-059 in October
with drill hole KLI-23-058 returning 103.5 m of 0.63% CuEq or 0.93 g/t AuEq (0.18% copper, 0.66 g/t
gold, and 0.93 g/t silver) within 388.5 m of 0.42% CuEq or 0.62 g/t AuEq (0.18% copper, 0.35 g/t gold
and 1.05 g/t silver) (see news release dated October 10, 2023). Results for the remaining seven drill
holes will be released once they are received and compiled.
Highlights
Drill hole KLI-23-062 returned 113.0 m of 0.48% CuEq or 0.71 g/t AuEq (0.22% copper, 0.36 g/t
gold, and 1.65 g/t silver) within 485.7 m of 0.27% CuEq or 0.40 g/t AuEq (0.15% copper, 0.17 g/t
gold, and 0.89 g/t silver).
Drill hole KLI-23-062 is the westernmost drill hole to be completed entirely within the Kliyul Main
Zone ("KMZ"). It was drilled vertically to test a gap between KMZ and KMZ West near the
intersection of the northwest trending Lui Fault and east-northeast trending Valley Fault and
extended
porphyry copper-gold mineralization 100 m to the northwest and southwest of the nearest
drill holes (see Figures 2 and 3).
Drill hole KLI-23-060 returned 61 m of 0.40% CuEq or 0.60 g/t AuEq (0.18% copper, 0.32 g/t gold,
and 1.67 g/t silver) within 100.0 m of 0.35% CuEq or 0.51 g/t AuEq (0.16% copper, 0.26 g/t gold,
and 1.38 g/t silver).
Drill hole KLI-23-060 was one of three holes, and the westernmost hole, drilled in an east-west
fence in KMZ North. KLI-23-060 tested an undrilled area more than 100 m away from any previous
drilling and extended porphyry copper-gold mineralization approximately 130 m west of KLI-23-
058, which returned 103.5 m of 0.63% CuEq or 0.94 g/t AuEq (0.18% copper, 0.66 g/t gold, and
0.93 g/t silver) within 388.5 m of 0.42% CuEq or 0.62 g/t AuEq (0.18% copper, 0.35 g/t gold and
1.05 g/t silver) (see Pacific Ridge news release dated October 10, 2023).
Drill hole KLI-23-060 provides further evidence that KMZ mineralization extends across the Valley
Fault. KLI-23-060 is 125 m north of the previous northernmost KMZ drill hole KLI-21-036, which
returned 291.7 m of 0.79% CuEq or 1.18 g/t AuEq (0.28% copper, 0.74 g/t gold and 2.04 g/t silver
within 437 m of 0.64% CuEq or 0.95 g/t AuEq (0.22% copper, 0.60 g/t gold and 1.62 g/t Ag) (see
news release dated December 1, 2021).
Drilling to date has expanded the known extents of KMZ mineralization to 630 m east-west, up to
600 m north-south, and up to 600 m vertical depth. KMZ remains open in every direction.
"I'm very pleased with this batch of drill results,"
said Blaine Monaghan, President & CEO of Pacific
Ridge
. "We continue to grow the known extents of KMZ mineralization and continue to prove that KMZ
mineralization pre-dates some of the mapped faults and is not constrained by these faults."
Figure 1
Location of Kliyul
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Figure 2
Plan View of KMZ with Magnetic Vector Inversion ("MVI") Amplitude Magnetics and Tilt
Derivative ("TDR") Anomaly Footprints
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Figure 3
Cross Section - Looking West-Northwest
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Table 1
2023 Kliyul Assay Results Summary for Drill Holes KLI-23-059 to KLI-23-062
Drill Hole
From(m)
To(m)
Width(m)
Cu(%)
Au(g/t)
Ag(g/t)
CuEq(%)*
AuEq (g/t)**
KLI-23-059
181.1
193.0
11.9
0.04
0.10
1.02
0.12
0.18
KLI-23-059
247.1
263.7
16.7
0.06
0.02
0.65
0.08
0.12
KLI-23-060
152.0
188.0
36.0
0.15
0.18
1.00
0.28
0.41
KLI-23-060
191.0
252.0
61.0
0.18
0.32
1.67
0.40
0.60
including
152.0
252.0
100.0
0.16
0.26
1.38
0.35
0.51
KLI-23-060
409.8
497.6
87.8
0.15
0.09
0.71
0.22
0.32
KLI-23-061
224.0
227.0
3.0
0.03
0.21
0.61
0.18
0.26
KLI-23-062
13.0
498.7
485.7
0.15
0.17
0.89
0.27
0.40
including
13.0
126.0
113.0
0.22
0.36
1.65
0.48
0.71
including
178.5
225.0
46.5
0.17
0.14
0.97
0.27
0.40
including
233.5
256.0
22.5
0.12
0.07
0.81
0.17
0.26
including
276.0
440.3
164.3
0.16
0.15
0.73
0.27
0.40
including
452.6
498.7
46.1
0.13
0.11
0.60
0.21
0.31
*CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x AuR/CuR x $Au x 0.032151) + (Ag(g/t) x AgR/CuR x $Ag x 0.032151)) / ($Cu x 22.0462).
**AuEq = ((Au(g/t) x $Au x 0.032151) + ((Cu%) x CuR/AuR x $Cu x 22.0462) + (Ag(g/t) x AgR/CuR x $Ag x 0.032151)) / ($Au x 0.032151).
Commodity prices:
$Cu = US$3.25/lb, $Au = US$1,800/oz., and Ag = US$20.00/oz.
There has been no metallurgical testing on Kliyul mineralization. The Company estimates copper recoveries (CuR) of 84%, gold recoveries (AuR) of
70%, and silver recoveries (AgR) of 65% based on the average recoveries from Kemess Underground, Mount Milligan, and Red Chris.)
Factors: 22.0462 = Cu% to lbs per tonne, 0.032151 = Au g/t to troy oz per tonne, and 0.032151 = Ag g/t to troy oz per tonne.
Click on the link below to view drill results from previous holes that Pacific Ridge completed at Kliyul,
holes KLI-21-036 to KLI-23-058.
2023-11-06_assay_summary_-_36_to_58.pdf
Discussion of Drill Holes KLI-23-059 to KLI-23-062
Drill holes KLI-23-059 to KLI-23-062 tested for northern and western extensions of KMZ and several
interpreted porphyry centres, Parish Hill and Ginger South (see Figure 4). Parish Hill is 1 km southeast
of KMZ within the 6-km-long Divide Lake Fault Trend (NW-SE) and Ginger South is 1.3 km west of KMZ
within the 2.5-km-long Valley Fault Trend (ENE-WSW).
Results indicate that mineralization in KMZ extends 100 m farther west into the Lui Fault-Valley Fault
intersection area, a junction between KMZ, KMZ West and KMZ North; and continues to the west in the
KMZ North in an area without any previous drilling.
KLI-23-062 returned 113.0 m of 0.48% CuEq or 0.71 g/t AuEq (0.22% copper, 0.36 g/t gold, and
1.65 g/t silver) within 485.7 m of 0.27% CuEq or 0.40 g/t AuEq (0.15% copper, 0.17 g/t gold, and
0.89 g/t silver). It was drilled vertically to test a gap area between KMZ and KMZ West near the
intersection of the northwest trending Lui Fault and east-northeast trending Valley Fault. It extended
porphyry copper-gold mineralization 100 m to the northwest and southwest of the nearest KMZ drill
holes, KLI-21-037 and KLI-15-032.
KLI-23-060 was drilled 135 m north of KLI-23-062 and returned 61 m of 0.40% CuEq or 0.60 g/t
AuEq (0.18% copper, 0.32 g/t gold, and 1.67 g/t silver) within 100.0 m of 0.35% CuEq or 0.51 g/t
AuEq (0.16% copper, 0.26 g/t gold, and 1.38 g/t silver). This was the westernmost of three drill
holes comprising an east-west fence across the KMZ North and tested an undrilled area more than
100 m away from the closest drill hole, KLI-15-032. It extended porphyry copper-gold
mineralization approximately 130 m west of KLI-23-058, which returned 103.5 m of 0.63% CuEq or
0.94 g/t AuEq (0.18% copper, 0.66 g/t gold, and 0.93 g/t silver) within 388.5 m of 0.42% CuEq or
0.62 g/t AuEq (0.18% copper, 0.35 g/t gold and 1.05 g/t silver) (see Pacific Ridge news release
dated October 10, 2023). KLI-23-060 provides further evidence that KMZ mineralization is not
constrained by the Valley Fault.
Large step-outs from KMZ to the southeast, Parish Hill, and to the west, Ginger South, encountered low
grade mineralization over narrow intervals related to skarn or D-vein occurrences. Reconnaissance
surface sampling at Parish Hill in advance of drilling confirmed mineralized garnet-epidote ± magnetite
skarn and mineralized quartz veins follow a key lithological contact in the Kliyul Creek volcano-
sedimentary host rocks near the southeastern end of Lui Fault (see Figure 4).
Figure 4
Kliyul Targets and Relative Magnetic Intensity (RMI) from 2022 Airborne Magnetics Survey
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Summary of Drill Holes KLI-23-059 to KLI-23-062
KLI-23-059
(azimuth 225°, inclination -58°, planned length 600 m, drilled length 607 m) was collared at
the Parish Hill target, 1 km southeast of KMZ within a broad moderate-intensity RMI aeromagnetic
anomaly that follows the Lui fault (see Figure 4). A northwest-trending 330 x 100 m lens-shaped MVI
magnetic high anomaly comes to surface here following a lithological contact between Kliyul Creek
sandstone-carbonate and volcaniclastic units that was mapped in 2021. This contact has Cu-sulfide
mineralized garnet-epidote ± magnetite skarn locally associated. The near-surface MVI magnetic high
anomaly dips steeply to the west and merges into a large magnetic high anomaly after 300 m depth that
could represent a porphyry deposit source of the surface skarn. Drilling tested this magnetic anomaly.
Lithology consists of intercalated volcaniclastic andesite, quartz diorite (up to 13.0 m wide) and
andesite dykes to 118.9 m. This zone is faulted, sheared and broken to about 90 m. From 118.9-
172.2 m there is an augite-phyric pyroxenite unit with a faulted footwall contact. From 223.5-340 m
is a zone of alternating plagioclase-phyric flows (up to 28.7 m wide) and a carbonate-volcaniclastic
fragmental unit. The remainder of the drill hole is coherent andesite with feldspar porphyry dykes
(up to 14 m wide) and a gabbro dyke (53.7 m wide) at 520.6 m.
Alteration is predominantly chlorite-sericite with lesser sericitic and propylitic to 50.0 m after which
propylitic alteration intensifies to moderate. Alteration of the pyroxenite unit includes dolomite, illite,
fuchsite; magnetite alteration starts at 128.1 m and biotite alteration increases after 143.5 m
towards the pyroxenite footwall contact at 172.4 m. In the footwall zone chlorite-sericite again
intensifies and magnetite is replaced by hematite; a shear zone at 181-183 m has a skarn altered
appearance and Fe-carbonate. Local garnet-epidote ± wollastonite ± K-feldspar skarn intervals
with carbonate occur from 223.5-275.8 m. Below the skarn zone, chlorite-sericite alteration
predominates with lesser carbonate and patchy potassic (magnetite ± K-feldspar) to 370.5 m,
after which propylitic alteration predominates to end-of-hole.
Mineralization includes disseminated chalcopyrite associated with skarn intervals. These locally
occur with D-veins (quartz-pyrite-chalcopyrite) at 252.0-253.3 m and 319.6 m and with
disseminated and stringer pyrite. Trace chalcopyrite and pyrrhotite is noted after 552 m to end-of-
hole.
The 11.9 m interval of 0.12% CuEq or 0.18 g/t AuEq (0.04% Cu, 0.10 g/t Au and 1.02 g/t Ag) from
181.1 m is associated with the skarn altered shear zone. It is also anomalous in tungsten (17.9
ppm). A deeper 16.7 m interval of 0.08% CuEq or 0.12 g/t AuEq (0.06% Cu, 0.02 g/t Au and 0.65
g/t Ag) from 247.1 m is a skarn zone with D-veins and is also anomalous in tungsten (68.3 ppm).
KLI-23-060
(azimuth 90°, inclination -85°, planned length 600 m, drilled length 617 m) was drilled in KMZ
North and was the westernmost of three drill holes comprising an east-west fence across KMZ North. It
tested an undrilled area over 100 m from any previous KMZ drilling.
Lithology is mainly volcaniclastic andesite (86%) with feldspar porphyry dykes (up to 64.1 m wide)
to 492.9 m. From 492.9-544.3 m is a zone of alternating feldspar porphyry (up to 11.8 m wide) with
hornblende andesite dykes (up to 26.3 m wide). From 544.3-613.0 m is volcaniclastic andesite
with quartz diorite dykes (up to 9.3 m wide).
Alteration is anhydrite-bearing inner-propylitic alternating with chlorite-sericite. Weak patchy
magnetite alteration starts at 122 m. At 409.8-419.2 there is a sericite cemented breccia and a
shear zone from 426.5-437.2 m with intensified inner-propylitic and chlorite-sericite alteration;
magnetite alteration becomes moderate strength to 509.5 m. From 509.5 m to end-of-hole local
sericitic and chlorite-sericite alteration predominate.
Mineralization includes disseminated and fracture-fill pyrite. Disseminated chalcopyrite starts with
magnetite alteration at 122 m. There is an apparent zonation of vein types with intermediate-stage
anhydrite ± epidote ± chlorite ± sulphide veins more predominant from 80.0-475.0 m, and then
early-stage quartz ± sulphide veins more predominant from 475.0 to end-of-hole. There is a zone
of D-veins between 576.6-586.9 m.
The 61 m interval of 0.40% CuEq or 0.60 g/t AuEq (0.18% Cu, 0.32 g/t Au, and 1.67 g/t Ag) from
191.0-252.0 m is associated with disseminated pyrite and chalcopyrite, weak magnetite, and
inner-propylitic alteration with anhydrite ± chlorite and epidote veinlets at the lower contact and
footwall zone of a feldspar porphyry dyke. Interestingly, a 30-cm-wide D-vein (quartz-pyrite-
chalcopyrite) with strong sericitic alteration at 584.3 m returned 7.96% CuEq or 11.83 g/t AuEq
(0.81% Cu, 10.25 g/t Au, and 35.5 g/t Ag) over a 2 m sample (see Table 1). Indium (0.66 ppm) and
tellurium (26.8 ppm) are also anomalous with the vein.
KLI-23-061
(azimuth 055°, inclination -57°, planned length 450 m, drilled length 299 m) was collared at
the Ginger South target approximately 1 km south of KLI-23-055, which tested the Ginger target, and 1.3
km west of KMZ. Ginger South lies near the intersection of the ENE-trending Valley Fault corridor with
the northwest-trending Parish Hill fault. This interpreted fault intersection is about 250 m north of the
planned drill hole collar and coincides with a >0.2 ppm Au-in-soil anomaly. Drilling tested a 150 m
diameter aeromagnetic high bullseye anomaly that coincides with a chargeability high. The drill hole was
terminated before target depth due to complications with transecting the Parish Hill fault zone, but
confirmed the fault exists as modelled.
Lithology is within the sandstone-carbonate subunit of the Kliyul Creek volcano-sedimentary rocks
and comprises alternating volcanic siltstone/sandstone (55%) with carbonate volcaniclastics
(26%). Additional units included volcaniclastic andesite and an augite porphyry dyke (18 m wide)
with lower contact chilled margin. The Parish Hill fault was encountered at 268 m and is interpreted
as a late-stage fault with 70% gouge and rock flour.
Alteration is chlorite-sericite with lesser sericitic and carbonate alteration. Patchy skarn alteration
starts at 84 m and continues to 170.4 m. Weak albite starts at 150.3 m and is bedding controlled.
Carbonate volcaniclastic rocks at 170.4 m are dolomite cemented.
Mineralization includes disseminated and vein-hosted pyrite. Pyrrhotite ± chalcopyrite starts after
38 m associated with late-stage quartz ± calcite veins. Disseminated pyrrhotite, chalcopyrite and
sphalerite occur locally.
The 3.0 m interval of 0.18% CuEq or 0.26 g/t AuEq (0.03% Cu, 0.21 g/t Au and 0.61 g/t Ag) from
224.0-227.0 m is associated with a massive white quartz D-vein (quartz-sericite-chlorite-pyrite).
Tellurium is also anomalous (5.8 ppm).
KLI-23-062
(inclination -90°, planned length 350 m, drilled length 563 m) is the farthest west drill hole to
be collared and completed entirely within KMZ. It was drilled vertically to test a gap between KMZ and
KMZ West near the intersection of the northwest trending Lui Fault and east-northeast trending Valley
Fault.
Lithology is mainly volcaniclastic andesite host rock to 295.3 m. Narrow dykes (< 2.8 m wide) of
feldspar porphyry and quartz feldspar porphyry occur at 150 m and 170.2 m. From 295.3-452.5 m
is a swarm zone of narrow dykes (1 m to 14.7 m wide) including quartz diorite, feldspar porphyry
and hornblende porphyry with intervening volcaniclastic andesite host rock. From 452 m to end-of-
hole, volcaniclastic andesite again predominates with local narrow dykes (1 m to 12.2 m wide) of
quartz diorite, feldspar porphyry and hornblende porphyry. A flat-lying ductile shear zone is noted at
517-521 m.
Alteration includes moderate patchy magnetite with overprinting sericit and chlorite-sericite to
142.0 m. After 142.0-170.2 m, magnetite is weak and patchy, occurring with chlorite-sericite and
local sericite ± albite ± quartz bleaching. From 170.2-452.5 m, in the dyke swarm zone, is a mix of
chlorite-sericite with inner-propylitic (epidote ± albite) alteration and patchy magnetite. From 452.5
m to end-of-hole, sericitic alteration and bleaching again intensifies with locally weak to nil
magnetite.
Mineralization includes disseminated and vein-hosted pyrite and chalcopyrite. Vein types are a mix
of intermediate-stage (epidote ± anhydrite ± sulphide) and early-stage (quartz ± magnetite ±
chlorite ± sulphide). Within the mineralized dyke swarm, intermediate-stage veins predominate.
Intermediate-to-late-stage pyritic D-veins occur with sericitic alteration at the shallow (hangingwall)
margin of the dyke swarm and may be related to a megacrystic feldspar porphyry dyke.
The 113.0 m interval of 0.48% CuEq or 0.71 g/t AuEq (0.22% copper, 0.36 g/t gold, and 1.65 g/t
silver) from 13-126 m is associated with moderately strong magnetite alteration with early-stage
and intermediate-stage veins. Within this interval at 54-84 m, Zn is anomalous (1,089 ppm) and
indium (0.20 ppm). The deeper interval of 0.27% CuEq or 0.40 g/t AuEq (0.16% copper, 0.15 g/t
gold, and 0.73 g/t silver) from 276.0-440.3 m is associated with intermediate-stage veins and
weak patchy magnetite.
About Kliyul
Owned 100% by Pacific Ridge, the Kliyul copper-gold project ("Kliyul" or the "Project") is over 60 km
2
in
size and is located in the prolific Quesnel Terrane close to existing infrastructure. Kliyul hosts a number
of compelling exploration targets, including the Kliyul Main Zone ("KMZ") which has been the Company's
focus since acquiring the Project in 2020. Since then, Pacific Ridge has completed more than 17,500 m
of diamond drilling and has expanded the known extents of KMZ mineralization to 630 m east-west, up to
600 m north-south, and up to 600 m vertical depth. KMZ remains open in every direction.
QA/QC (Quality Assurance/Quality Control)
Pacific Ridge's 2023 exploration program is being managed by Equity Exploration Consultants Ltd. of
Vancouver, B.C. The drill contractor is Paycore Drilling of Valemount, B.C. Half-core HQ (63.5 mm) or
NQ (47.6 mm) sawed samples from continuous intervals throughout the reported drill holes were sealed
on site and shipped to ALS Global Laboratories ("ALS") preparation lab in Kamloops or North
Vancouver, BC. Fire assay and multielement analyses were completed at ALS Minerals analytical
laboratory in North Vancouver. Drill core was crushed, pulverized and analyzed for 48 elements using a
four-acid dissolution followed by ICP-MS (ME-MS61) with over limits by ore grade four-acid dissolution
followed by ICP-AES (OG62), with a 30 g sample analyzed for gold by fire assay and atomic absorption
finish (Au-AA23). Blanks and commercially certified reference materials were inserted blind into the
sample stream with an overall insertion rate of 5%. Field duplicates representing a quarter core split of
the original sample are inserted at 2.5%. Pulp and crush duplicates are inserted at 5% insertion rate by
the laboratory. The QAQC results are reviewed as batches are returned from the laboratory and
appropriate actions are implemented where required. The QA/QC results for the reported drill holes are
acceptable.
About Pacific Ridge
Our goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's
flagship asset is its 100% owned Kliyul copper-gold project, located in the Quesnel Terrane close to
existing infrastructure. In addition to Kliyul, the Company's project portfolio includes the RDP copper-gold
project (optioned to Antofagasta Minerals S.A.), the Chuchi copper-gold project, the Onjo copper-gold
project, and the Redton copper-gold project, all located in British Columbia. Pacific Ridge would like to
acknowledge that its B.C. projects are located in the traditional, ancestral and unceded territories of the
Gitxsan Nation, McLeod Lake Indian Band, Nak'azdli Whut'en, Takla Nation, and Tsay Keh Dene Nation.
On behalf of the Board of Directors,
"Blaine Monaghan"
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX
Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email:
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.
The technical information contained within this News Release has been reviewed and approved by
Gerald G. Carlson, Ph.D., P.Eng., Executive Chairman of Pacific Ridge and Qualified Person as
defined by National Instrument 43-101 policy.
Forward-Looking Information:
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than statements of historical facts,
which address exploration drilling and other activities and events or developments that Pacific Ridge
Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Although Pacific
Ridge 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 forward-looking statements. Factors that
could cause actual results to differ materially from those in forward-looking statements include market
prices, exploration successes, and continued availability of capital and financing and general
economic, market or business conditions. These statements are based on a number of assumptions
including, among other things, assumptions regarding general business and economic conditions,
that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock
exchange and other regulatory requirements in a timely manner, the availability of financing for
Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service
providers to deliver services in a timely manner. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or developments may differ materially from
those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to
update or revise its forward-looking statements, whether as a result of new information, future events or
otherwise, except as required by applicable law.
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