Pacific Ridge Provides Update on Kliyul and Redton Properties
Pacific Ridge Provides Update on Kliyul and Redton
Properties
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2020) - Pacific Ridge Exploration Ltd. (TSXV: PEX) ("Pacific Ridge" or
the "Company") reports that the previously-announced acquisition of the Kliyul and Redton gold-copper porphyry projects located
in the Omineca Mining Division, British Columbia (the "Properties") has received acceptance of the TSX Venture Exchange
subject to the filing of technical reports. The technical reports are expected to be filed in late June once the weather and any
restrictions due to COVID-19 allows for required site visits to the Properties.
Pacific Ridge has the right to earn a 51% interest in the Properties from Aurico Metals Inc. by making cash payments totaling
$100,000, issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The Company then has
the right to increase its interest in the Properties to 75% by making additional payments totaling $60,000, issuing 1.5 million
shares and completing an additional $3.5 million in exploration by December 31, 2025.
About Pacific Ridge
Pacific Ridge is a well-financed junior exploration company that has assembled a portfolio of highly prospective gold and base
metal projects located in the Yukon and British Columbia, where its board and management team have a track record of
success. Its holdings include the new Kliyul and Redton copper-gold porphyry projects in north-central British Columbia, the
Mariposa, Eureka Dome and Gold Cap gold exploration projects in the Klondike-White Gold District, Fyre Lake Cu-Au-Co
massive sulphide deposit in the Finlayson District and the Spius Cu-Mo porphyry in southern British Columbia.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
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.
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, that address exploration drilling and other activities
and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking
statements. Forward-looking statements in this news release include statements regarding the exercise of the options and
future exploration plans and expenditures. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/55670