Vancouver, BC – August 6, 2024 – Prospect Ridge Resources Corp. (the “Company” or “Prospect Ridge”) (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce the commencement of an inaugural drilling program at the Copper Ridge zone within its flagship Knauss Creek property, located south of the Golden Triangle, near Terrace in British Columbia.

The drill program will test high-priority targets inside the Copper Ridge zone which covers an area of 1,550 metres by 850 metres. Identified through extensive prospecting and surface sampling, which includes outcrop samples with values of up to 78.9 g/t Au, 4610g/t Ag and 29.4% copper, the Copper Ridge zone is a north-south oriented quartz veins system mineralized in gold, silver and copper hosted in an intrusion.

“This inaugural drill program on the Copper Ridge zone marks a pivotal milestone for the Company, building on our extensive exploration efforts that have yielded exceptional high-grade samples,” commented Michael Iverson, CEO of Prospect Ridge. “With more than $5 million in the treasury, we are well-financed to test this huge surface discovery and try to turn it into a deposit. This is an exciting time for the Prospect Ridge team and the shareholders. We look forward to sharing results from what we anticipate will be great drilling season!”

Key Program Highlights:

  • A 2,000 metres minimum program is now underway at Knauss Creek’s Copper Ridge zone located south of the Golden Triangle, 35 kilometres north of Terrace, along the Trans-Canadian Highway;
  • Drilling will focus on the largest clusters of high-grade outcrop samples obtained through prospecting and aim to intersect the mineralized system at depth; 
  • The program is fully funded with the Company recently closing an over-subscribed private placement of more than $5.2 million (see news release dated July 25, 2024).

Figure 1.  Copper Ridge zone with targeted drill areas.

Image 1: CEO Michael Iverson with the drill at Copper Ridge.

Initial assay results should start arriving from the laboratory toward the end of the third quarter of 2024.

Cautionary statements

Outcrop samples are selective by nature and grades may not be representative of mineralized zones. True thickness or mineralization style and geological models cannot be determined with the information currently available.

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 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 Knauss Creek and the Holy Grail properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored region.