Rockridge Resources Ltd. announced assay results from its recently completed diamond drilling program at its 100% owned Knife Lake Copper Project located in Saskatchewan, Canada. The Company drilled a total of 939 metres in six drill holes and has received assays and completed interpretation for all holes. The Knife Lake Project, consisting of 82 claims totaling 56,865 hectares (140,516 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to the Knife Lake Deposit.

Highlights: Hole KF22030 returned 1.93% Cu, 0.26 g/t Au, 7.50 g/t Ag and 0.17% Zn (2.35% CuEq.) over 15.90m starting at 13.80m depth. Hole KF22026, the first hole drilled into the highly prospective Gilbert West Zone, successfully intersected bands of green pegmatite cross cutting mafic metavolcanics which is directly associated with the copper mineralization interpreted to represent the Knife Lake stratigraphic horizon. Previously announced drill results from the 2022 program (News Release dated November 2nd, 2022) returned 1.91% Cu, 0.23 g/t Au, 7.79 g/t Ag and 0.30% Zn (2.32% CuEq) over 15.75m beginning at 13.00m in hole KF22029.

Drilling focused on discovering VMS style copper deposits along newly defined conductors at Gilbert South and Gilbert West as well as at the Knife Lake VMS deposit. The Knife Lake Deposit is thought to be a remobilized portion of a “primary” VMS deposit; most of the historical work has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit. Over 300 holes provided data for first NI 43-101 resource estimate of the shallow Knife Lake deposit.

Knife Lake NI 43-101 resource estimate from 2019 provides excellent anchor for Project and includes indicated resources of 3.8 MT at 1.02% CuEq. (3.8 MT at 0.83% Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 ppm Co,1740.7 ppm Zn) as well as inferred resources of 7.9 MT at 0.67% Cu Eq (7.9 MT at 0.53% Cu, 2.4 g/t Ag, 0.084 g/t Au, 53.1 ppm Co, 1454.9 ppm Zn). There is strong discovery potential in and around the deposit as well as at regional targets on the Property; modern exploration techniques and methods are being utilized with a goal of making new discoveries.

Planning is underway for 2023 exploration programs. The focus of the 2022 drill program was continued infill and expansion drilling at the deposit, with the intent of upgrading existing mineral resource estimates and better understand the geology at the Knife Lake Deposit. In addition to the Deposit drilling, exploratory drill holes were completed at the highly prospective Gilbert Lake target area. The program consisted of 936m total metres drilled in six drill holes with four holes (281m) drilled at the deposit.

The Gilbert Lake targets were identified from the results and interpretation of the previous geophysical, drill and field programs. Results from these programs show that airborne VTEM surveys can successfully identify zones of VMS-style mineralization hosted in favourable stratigraphy on the property. The drilling at the Gilbert Lake South target area further investigated strike-length continuity of the mineralized horizon intersected in 2021 drilling, which remains open to the south. The hole also evaluated potential zoning of mineralization, which is commonly observed in VMS systems. Furthermore, drilling at a newly discovered copper showing at the Gilbert West Area targeted the down-dip extension of a mineralized and intensely altered volcanic package which is interpreted to be the Knife Lake stratigraphic horizon.

The Gilbert West target had never been drill tested. The hole successfully intersected weak pyrrhotite-dominant mineralization hosted in stratigraphy interpreted to be the same stratigraphic horizon that hosts the Knife Lake Deposit. Knife Lake Deposit Diamond Drill Hole Results and Geological Summary: Drill hole KF22030 was designed to follow-up on the 2019 and 2021 resource drilling program and infill historic drilling at the Knife Lake Deposit.

Mineralization forms semi-massive to massive and net textured pyrite-pyrrhotite-chalcopyrite-sphalerite hosted in intermediate-mafic volcanics and green pegmatite intervals. Hole KF22030: Drill hole KF22030 intersected a broad zone of mineralization over 15.90m (from 13.80m - 29.70m) which returned 1.93% Cu, 0.26 g/t Au, 7.50 g/t Ag, 0.17% Zn and 0.02% Co (2.35% CuEq), and includes 2.18% Cu, 0.27 g/t Au, 7.83 g/t Ag, 0.19% Zn, 0.02% Co (2.65% CuEq) over 9.00m (from 17.00m - 26.00m). Hole KF22026: Drill Hole KF22026 was the first hole drilled at the newly discovered Gilbert West target area.

The 2021 airborne VTEM survey identified strong conductivity and related magnetic high anomalies forming bedding parallel conductors which correlated to highly prospective stratigraphy interpreted to be the same stratigraphic horizon that hosts the Knife Lake Deposit. The hole intersected intermediate and mafic metavolcanics with green tonalitic pegmatites that hosted intervals of semi-massive pyrrhotite, associated with graphitic alteration. Logging identified trace chalcopyrite intergrown with semi-massive pyrrhotite, interpreted to represent VMS-style mineralization.

The geology in these intervals is very encouraging and warrants following up which will be considered in the 2023 exploration program. The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30° to 50° eastward over a known strike-length within Rockridge's claim area of 3,700 metres, and a known average down-dip extension of approximately 300 metres.