Rockridge Resources Ltd. (‘Rockridge' or the ‘Company') announced that it has commenced its summer drill program of approximately 1,000m at its Knife Lake High-Grade Copper VMS Project located in Saskatchewan, Canada (the ‘Knife Lake Project' or ‘Property'). Rockridge is fully funded and permitted for this drill program. Using the results and interpretation from the recently completed geophysical programs, as well as the 2021 drill and field programs, the program will focus on targets at the Gilbert Lake zones as well as at the deposit.

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. The focus of the 2022 drill program will be on the highly prospective Gilbert Lake target area as well as continued infill and expansion drilling at the Knife Lake deposit. The program will consist of approximately 1,000m in six to eight drill holes.

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 favorable stratigraphy on the property. The drilling at the Gilbert Lake South target area will further investigate strike-length continuity of the mineralized horizon intersected in 2021 drilling, which remains open to the south. The holes will also evaluate potential zoning of mineralization, which is commonly observed in VMS systems. Additional drilling at a newly discovered copper showing at the Gilbert West Area has also been prioritized.

The holes will target 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 has never been drill tested. The Company is also planning drilling at the Knife Lake deposit area as infill and expansion drilling to upgrade the existing resource estimate.

Rockridge has received its exploration permit which is good through February 2024. 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.

The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been significantly modified and partially remobilized during the emplacement of granitic rocks. The mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted overturned fold.

The Company has completed twenty-four holes consisting of 3,096 metres of diamond drilling in the 2019 and 2021 winter drilling programs. This represented the first drilling on the property since 2001. Both programs have given the Company's technical team valuable insights into the property geology, alteration, and mineralization that will be applied to future regional exploration on the highly prospective and underexplored land package. Highlights from the drill programs include previously reported hole KF19003 which intersected net-textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval returned 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co for an estimated 2.42% CuEq.

In August 2019, Rockridge announced a maiden NI 43-101 resource estimate for the Knife Lake deposit which consisted of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred resource of 7.9 million tonnes at 0.67% CuEq using a 0.4% CuEq cut-off. For more information, refer to the News Release dated August 14th, 2019 or the NI 43-101 Technical Report on the Mineral Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar. Kerry Bates, P. Geo., a ‘qualified person' for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Geologist employed by Eagle Plains Resources, has reviewed and approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.