Vancouver, British Columbia – (Newsfile Corp. – September 4, 2022) – Pacific Ridge Exploration Ltd. (TSXV: PEX) (“Pacific Ridge” or the “company“) plans to increase the size of the previously announced non-brokered private placement (see press release dated September 2, 2022) by 1,000,000 units to 3,391,305 units at a price of $0.23 per unit (“”Unit’) for gross receipts of up to $780,000 (the ‘financing“). DELPHI Unternehmensberatung Aktiengesellschaft, Pacific Ridge’s second largest shareholder, intends to purchase the additional 1,000,000 units. Crescat Capital LLC, the Company’s largest shareholder, intends to acquire the remaining 2,391,305 units.

Proceeds from this financing will be used for additional drilling at the Kliyul copper-gold project in north central BC and for general working capital.

Each unit consists of one common share of the Company and one-half common share purchase warrant, with each whole warrant exercisable to purchase one additional common share at an exercise price of $0.35 for a period of 2 years. The financing is subject to acceptance by the TSX Venture Exchange.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be issued pursuant to the United States Securities Act of 1933, as amended (the “US Securities Act ’) or other state securities laws and may not be offered or sold within the United States or to any US person unless registered under the US Securities Act and applicable state securities laws or unless an exemption from such registration is obtained.

About Pacific Ridge

Our goal is to become British Columbia’s premier copper-gold exploration company. Pacific Ridge’s flagship project is the Kliyul copper-gold project, located in the prolific Quesnel Trough approximately 50 km southeast of Centerra Gold Inc.’s Kemess mine. Besides Kliyul, the…