Pacific Ridge Exploration Ltd. announced that exploration is underway at the RDP copper-gold project (RDP or the Project), located in northcentral British Columbia, 40 km west of the Company's Kliyul copper-gold project (Kliyul). Antofagasta Minerals S.A. (Antofagasta), a wholly owned subsidiary of Antofagasta PLC, can earn a 75% interest in RDP by spending $10,000,000 on exploration over eight years and delivering a preliminary economic assessment report (See news release dated February 8, 2022). The 2023 exploration program will include 1,800 m of diamond drilling, a 16 line-km IP survey at the Day, Porcupine, and Bird targets, rock sampling at the Porcupine target, and soil sampling at the Bird target.

The surface sampling and geophysical programs are already underway, and drilling is expected to begin shortly. Drilling will initially focus on the Day Target (see), where drill hole RDP-22-005 intersected 107.2 m of 1.45% CuEq1 (0.63% Cu, 1.10 g/t Au, and 2.91 g/t Ag) within 497.2 m of 0.68% CuEq1 (0.37% Cu, 0.40 g/t Au, and 1.6 g/t Ag). Pacific Ridge is the operator and is supporting the exploration program from the camp at Kliyul.

Highlights of the 2022 Exploration Program Hole RDP-22-005 intersected 107.2 m of 1.45% CuEq (0.63% Cu, 1.10 g/t Au, and 2.91 g/t Ag) within 497.2 m of 0.68% CuEq (0.37% Cu, 0.40 g/t Au, and 1.6 g/t Ag), from surface. Hole RDP-22-003 intersected 59.4 m of 1.68% CuEq (0.78% Cu, 1.2 g/t Au, and 2.99 g/t Ag) from surface. Hole RDP-22-001 intersected 51.5 m of 1.01% CuEq (0.51% Cu, 0.65 g/t Au and 2.59 g/t Ag) from surface.

The Day Zone mineralization remains open to the east, north, west, and at depth, and may be associated with a late-mineral bounding fault on its south or southwest side.