Pacific Ridge Exploration Ltd. announced that it has exercised its option to acquire a 100% interest in the RDP copper-gold project ("RDP" or the "Project"). RDP is located in northcentral British Columbia, 40 km west of the Company's 100% owned Kliyul copper-gold project ("Kliyul"). In May 2021, the Company announced the option to acquire a 100%interest in RDP by making cash payments of $125,000, issuing 1,200,000 shares, and spending $810,000 on exploration by December 15, 2023.

Subsequently, Pacific Ridge optioned the Project to Antofagasta Minerals S.A. ("Antofagasta"), a wholly owned subsidiary of Antofagasta PLC, who can earn a 75% interest in RDP by making cash payment to the Company totaling $1,350,000, plus a success payment of $800,000 upon exercise of the option, spending $10,000,000 on exploration over eight years, and delivering a NI 43-101 compliant preliminary economic assessment report. In addition to diamond drilling, Antofagasta also funded 16 line-km of IP surveys, rock sampling, and soil sampling at RDP. The Company estimates copper recoveries (CuR) of 84%, gold recoveries (AuR) of 70%, and silver recoveries (AgR) of 65% based on the average recoveries from Kemess Underground, Mount Milligan, and Red Chris.) Factors: 22.0462 = Cu% to lbs per tonne, 0.032151 = Au g/t to troy oz per tonne, and 0.032151 = Ag g/t to troyoz per tonne.