Pacific Ridge Exploration Ltd. announced results from diamond drill holes KLI-23-063 to KLI-23-066 from this year's exploration program at the Kliyul copper-gold porphyry project ("Kliyul" or "Project"). Drill hole KLI-23-065 intersected 111.0 m of 0.45% copper equivalent ("CuEq") or 0.67 g/t gold equivalent ("AuEq") (0.24% copper, 0.30 g/t gold, and 0.70 g/t silver) within 600.4 m 0.27% CuEq or 0.40 g/t AuEq (0.14% copper, 0.18 g/t gold, and 0.53 g/t silver). Holes KLI-23-063 to KLI-23-066 have expanded the known extents of Kliyul Main Zone ("KMZ") mineralization to 750 m east-west, 600 m north-south, and 600 m vertical depth.

Kliyul is located in the prolific Quesnel Terrane in northcentral British Columbia close to existing infrastructure. Pacific Ridge completed 19 diamond drill holes (KLI-23-051 to KLI-23-069) totaling 10,284 metres at Kliyul this year, the largest ever exploration program at the Project. The Company announced drill results for holes KLI-23-051 to KLI-23-054 in August with drill hole KLI-23-054 returning 305.5 m of 0.59% CuEq or 0.87 g/t AuEq (0.23% copper, 0.51 g/t gold, and 1.22 g/t silver).

The company announced drill results for holes KLI-23-055 to KLI-23-059 in October with drill hole KLI-23-058 returning 103.5 m of 0.63% CuEq or 0.93 g/t AuEq (0.18% copper, 0.66 g/t gold, and 0.93 g/t silver) within 388.5 m of 0.42% CuEq or 0.62 g/t AuEq (0.18% copper, 0.35 g/t gold and 1.05 g/t silver). The Company announced drill results for KLI-23-59 to KLI-23-62 in November with drill hole KLI-23-062 returning 113.0 m of 0.48% CuEq or 0.71 g/t AuEq (0.22% copper, 0.36 g/t gold, and 1.65 g/t silver) within 485.7 m of 0.27% CuEq or 0.40 g/t AuEq (0.15% copper, 0.17 g/t gold, and 0.89 g/t silver). Results for the remaining three drill holes will be released once they are received and compiled.

Drill holes KLI-23-063 to KLI-23-066 tested for northern, western and eastern extensions of KMZ, stepping out farther into adjacent fault blocks in those directions. The step-outs varied in size and included a double step-out in KMZ East with KLI-23-063 being drilled 1 km east of KMZ and KLI-23-066 being drilled 500 m to the east. This offers a unique east-west sectional perspective on mineralization styles associated with KMZ over a kilometre distance.

In addition, KLI-23-065 stepped out 200 m to the southwest of KMZ, adding to the east-west drilling section. The collar-to-collar distance from KLI-23-065 in KMZ West to KLI-23-063 in KMZ East is 1240 m, representing the entire lateral extent of the known KMZ porphyry system. In addition, KLI-23-066 provided a test of the TDR filtered model of aeromagnetic data being used as an alternative porphyry footprint delineator to the near-surface expression of the 3D MVI Induced model.

Whereas KLI-23-066 lies outside the interpreted footprint boundary of the MVI, it is within the boundary of the TDR. This is significant because the TDR is being utilized for its ability to enhance low amplitude magnetic anomalies (including structural trends) such that satellite magnetic anomalies to KMZ central zone can be better resolved. There are large (200-250 m diameter) TDR anomalies in the northeast part of KMZ North that have only been marginally tested with drilling, including by KLI-22-046 which returned 59.0 m of 0.89% CuEq (0.24% copper, 0.87 g/t gold, and 2.29 g/t silver) within 169 m of 0.55% CuEq (0.20% copper, 0.46 g/t Au, and 1.65 g/t Ag). Intersecting mineralization in KLI-23-066 adds confidence to targeting the northeastern TDR anomalies in 2024.

Drill hole KLI-23-064 was collared from the same location as KLI-23-060 in KMZ North and drilled at moderate inclination to the north to test for an extension of KMZ mineralization to the northwest of the KMZ central zone and intersected predominantly late-mineral diorite. It also provided a test of the TDR versus MVI footprint models as this drill hole is fully within the MVI footprint but drills outside of the TDR. Results indicate that there is continuity of mineralization between KMZ and KMZ West across the Lui Fault and mineralization extends as much as 135 m farther to the west-southwest of KLI-22-050. It remains open in the west, including at depth.

Results also indicate that mineralization is continuous for another 100 m to the east of KLI-22-049 in KMZ East and confirms that the TDR footprint is a reliable indicator of KMZ mineral potential at depth. Mineralization remains open in KMZ East and at depth. With these step-outs, the known east-west extent of KMZ mineralization is now 750 m.