Prospect Ridge Resources Announces Drilling Permits Received and Commencement of 2022 Drilling Program
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
PROSPECT RIDGE RESOURCES ANNOUNCES DRILLING PERMITS RECEIVED AND
COMMENCEMENT OF 2022 DRILLING PROGRAM
Vancouver – July 28th, 2022 – Prospect Ridge Resources Corp. (the " Company" or " Prospect
Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce that the drilling permits have
been received for the flagship Knauss Creek and Holy Grail properties located 10 km’s north of
Terrace, BC.
Permit applications were compiled and submitted after a very successful 2021 field season that
produced many high-grade results of gold, silver, copper, lead, and zinc. These results along with
Lidar surveying, and compilation of historical data have provided the expert team with numerous
drill targets for 2022. Under the leadership of CEO, Michael Iverson, and President, Yan
Ducharme, the team of geologists have identified primary targets located on the Knauss Creek
property, including the historical high-grade producing Dorreen gold mine. The first 2 targets will
be the Dorreen mine and the Jay Veins zone.
The company commenced the field season with prospecting in May and at the same time has
lined up all drilling contractors and supplies in the starting blocks ready for the receipt of the
drilling permits. Thanks to the organized preparation of all pertinent personnel and supplies, the
teams will start the setup of the drill locations immediately. The helicopter supported drilling
campaign will start tomorrow with the placement of all pad building materials and crews,
followed immediately by the mobilization of the drilling team to run 24 hours per day until the
planned program is fulfilled.
Michael Iverson, CEO states, “Here we are with permits in hand and the entire crew ready to
go. We’ve been waiting with great excitement and anticipation to get out there and start hitting
this initial targets. Yan and I have worked with our team to meticulously plan our attack and
start proving up our assets. The helicopter is set to start getting guys to work this week. Stay
tuned.”
Qualified Person
All scientific or technical information included in this news release has been reviewed, verified and
approved by Yan Ducharme, P.Geo., President of the Company and a qualified person as defined by
National Instrument 43-101.
About Holy Grail & Knauss Creek
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
The Holy Grail and Knauss properties start about 10 kilometers north of the town of Terrace in the
Province of British Columbia, Canada. They are easily accessible by two highways and a network of
logging roads. They are contiguous and form a horseshoe covering about 730 square kilometers.
The southern tip of the Golden Triangle arrives just northwest of the properties. The Bower Lake and
the Hazelton Groups hosting most of the deposits and mines of this area are also underlying the Holy
Grail and Knauss Creek properties.
A few gold, silver, copper, lead and zinc occurrences where found in the past. The most notable is the
Dorreen mine where three levels were developed and, according to historical documents, around
700 tons of ore were mined out at an average grade of more than 10 g/t Au.
The properties hold more than 10 very interesting gold showings, sometimes with silver, copper, lead
and zinc.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a British Columbia based exploration and development company
focused on gold exploration. Prospect Ridge ’s management and technical team cumulate over 100
years of mineral exploration experience and believes the Holy Grail and Knauss Creek properties to
have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored
region.
Contact Information
Prospect Ridge Resources Corp.
Nick Luksha, Executive Vice President
Email: [email protected]
Telephone: 604-838-0184
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the expectations or beliefs of management
of the Company regarding future events. Generally, forward-looking statements and information can
be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or
variations of such words and phrases or statements that certain actions, events or results “may”,
“could”, “should”, “would” or “occur”. This information and these statements, referred to herein as
"forward-looking statements", are not historical facts, are made as of the date of this news release
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
and include without limitation, statements regarding discussions of future plans, estimates and
forecasts and statements as to management's expectations and intentions with respect to, among
other things, positive exploration results at the Knauss Creek and Holy Grail projects and the
Company’s use of proceeds from the Private Placement. These forward-looking statements involve
numerous risks and uncertainties and actual results might differ materially from results suggested in
any forward-looking statements. These risks and uncertainties include, among other things, that
future exploration results at the Knauss Creek and Holy Grail projects will not be as anticipated and
that the Company will use the proceeds from the Private Placement as anticipated.
In making the forward-looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that future exploration results at the Knauss Creek
and Holy Grail projects will be as anticipated and that the Company will use the proceeds from the
Private Placement as anticipated.
Although management of the Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking statements or forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements and forward-
looking information. Readers are cautioned that reliance on such information may not be appropriate
for other purposes. The Company does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are incorporated by reference herein, except in
accordance with applicable securities laws. We seek safe harbor.