Pacific Ridge Reports Full Exercise of October 21ST Share Purchase Warrants
Suite 1100 ‐ 1199 West Hastings Street Vancouver, BC V6E 3T5 Tel.: 604.687.4951 Fax: 604.688.4670 www.pacificridgeexploration.com
N E W S R E L E A S E # 1 0 - 1 1
PACIFIC RIDGE REPORTS FULL EXERCISE OF OCTOBER 21ST SHARE PURCHASE WARRANTS
Vancouver, B.C. – October 27, 2010 – Pacific Ridge Exploration Ltd. (TSX Venture: PEX) reports that the company has received $359,375 from the exercise of 1,437,501 share purchase warrants with an exercise price of $0.25 and an expiry date of October 21, 2010. The company now has 37,090,077 common shares issued and outstanding.
On September 20, 2010, it was previously reported that 700,000 share purchase warrants were exercised at a price of $0.25 per share with the company then receiving gross proceeds in the amount of $175,000.
With respect to the Pacific Ridge Mariposa, Gold Cap and Polar/Steward Properties located within the Yukon’s South Klondike‐White Gold area, additional assay results from trench sampling and soil sampling surveys remain pending and will be reported when received and compiled during the balance of this year. Plans for the Pacific Ridge 2011 exploration program are underway, additional exploration staff have been engaged and the company will soon issue a request for tenders from diamond drilling contractors.
“John S. Brock”
John S. Brock President
For further information, contact:
Corporate Information Investor Relations
Pacific Ridge Exploration Ltd. Manex Resource Group
John S. Brock Liana Shahinian
President Director of Investor Relations
Tel: (604) 687‐4951 Tel: (604) 641‐2773
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.
Pacific Ridge’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by George Norman, PGeo, Pacific Ridge’s Exploration Manager, who serves as a qualified person under the definition of National Instrument 43‐101. Quality‐assurance and quality‐control procedures include the systematic insertion of blanks, duplicates and standards into trench sample sequence. Samples are placed in sealed bags and shipped directly to ACME Labs’ preparatory laboratory in Whitehorse prior to gold fire assay fusion by ICP‐ES analysis. The Mariposa property is an early‐stage exploration property and does not contain any mineral resources as defined by National Instrument 43‐101.
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, exploration activities and events or developments that Pacific Ridge Exploration Ltd. (the “Company”) expects to occur, are forward‐looking statements. Forward‐looking statements in this news release include statements regarding the Offering (including the anticipated closing date) and future exploration plans and expenditures. Although, the Company 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 and 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 others, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals for the transactions described herein, the ability of the Company and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for the Company’s proposed transactions and 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 on the forward‐looking statements. The Company does not assume any obligation to update or revise its forward‐looking statements, whether as a result of new information, future events or otherwise.