Company Strengthens Treasury with B.C. Mineral Exploration Tax Credit
VANCOUVER, BC / ACCESS Newswire / August 14, 2025 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR) (OTCQB:PRRSF) (FRA:OED) is pleased to announce the successful completion of field programs at its Knauss Creek and Holy Grail projects, and the commencement of exploration activities at its newly acquired Castle and Excalibur copper-gold porphyry projects in north-central British Columbia (B.C.). The Company also confirms receipt of a $200,000 B.C. Mineral Exploration Tax Credit (METC), further strengthening its current treasury of $2.3 million.
Completion of Knauss Creek and Holy Grail Programs
At the Company's 100%-owned Knauss Creek and Holy Grail projects, located just north of Terrace, B.C., crews from Equity Exploration Consultants Inc. have completed a four-week program of prospecting, mapping, and rock sampling across 17 high-priority exploration targets. An additional three targets will be assessed within the next ten days while field crews complete preparations for other programs. (Figure 1).[ML1]
The program, based at Prospect Ridge's fully equipped Terrace camp, utilized the Company's fleet of trucks and ATVs, along with helicopter support from Quantum Helicopters Ltd. A total of 61 rock samples were collected and sent for assay, with results expected in the coming weeks[ML2]. Detailed geological mapping will be integrated with assay data to highlight potential drill targets across the fully drill-permitted[RV3] combined land package of 625.5 km².
President & CEO Len Brownlie commented:
"After spending a day in the field with the Equity Exploration team at Holy Grail, I was extremely impressed by their mapping and prospecting work in challenging alpine terrain and under adverse weather conditions. Based on what I observed, I am confident the team has thoroughly reviewed all high-priority targets on both Holy Grail and Knauss Creek, and we look forward to receiving the assay results and Equity's final report."
Excalibur Copper-Gold Porphyry Project
The Excalibur project (formerly "Jacobite") covers 27.7 km² in the Skeena Natural Resource Region of central B.C. It is road-accessible, close to infrastructure and power, and lies in an area of active mining and exploration, including Quartz Mountain Resources Ltd.'s Jake and Maestro projects[RV4].
A one-week mapping and prospecting program was completed on July 29, with 15 rock samples submitted for assay. Fieldwork identified chalcopyrite mineralization outcropping within a copper-in-soil anomaly and mapped several newly identified diorite porphyry intrusions. Some of these porphyries exhibited feldspar replacement by epidote, which may represent propylitic-style alteration characteristic of peripheral zones in porphyry systems.
The Company has secured a permit exemption for its planned 30 line-km Induced Polarization (IP) survey over key copper anomalies. Contractor selection is underway, and the survey is expected to be completed in September 2025.
President & CEO Len Brownlie added:
"We are extremely excited to continue our exploration efforts over the next two months on the newly acquired Excalibur and Castle projects. With the recent $200,000 METC from the B.C. government and a strong treasury, Prospect Ridge is well positioned to advance these promising assets rapidly and strategically."
Castle Copper-Gold Porphyry Project
The Castle project, covering 29.14 km² in the Toodoggone gold-copper district, is located approximately 40 km northeast of Thesis Gold Inc.'s Ranch project.
A 325 line-km airborne magnetic and radiometric survey will be conducted by Pioneer Exploration Consultants Ltd. within the next four weeks, followed by an 8 line-km IP survey conducted by SJ Geophysics Ltd. focused on the north and west Castle gossan slopes. The Company has also received a permit exemption for the IP survey. Concurrently, field crews will carry out prospecting and mapping over both the Castle and Abbey gossans.
Next Steps
The objective of the current programs at all four projects is to define multiple high-priority drill targets in preparation for a minimum 2,000-metre diamond drilling campaign on each property, targeted for summer 2026 and pending receipt of all necessary permits [RV5] .
Figure 1: Plan map showing the main target areas on the Holy Grail/Knauss Creek project
Figure 2: Examining pyrite-altered rocks at the French Peak gossan above the Excalibur target area
First Nations Land Acknowledgement
Prospect Ridge acknowledges that Castle is situated within the traditional territory of the Tahltan and Tsay Keh Dene First Nations.
Prospect Ridge also acknowledges that Excalibur is situated within the traditional territory of the Lake Babine First Nation.
Prospect Ridge is committed to developing positive and mutually beneficial relationships with First Nations based on trust and respect and a foundation of open and honest communications.
Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Ron Voordouw, Ph.D, P.Geo. Director of Geoscience for Equity Exploration Consultants Ltd., a consultant to the Company and a qualified person as defined under the terms of National Instrument 43-101.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on critical metals and gold exploration. Prospect Ridge's management and technical team collectively have over 100 years of experience in mineral exploration and believes the Company's properties have the potential to extend the boundaries of the Golden Horseshoe across this vastly under-explored region.
Contact Information
Prospect Ridge Resources Corp.
Mike Iverson - Chairman, Director
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information ("FLI") that may constitute forward-looking information within the meaning of applicable Canadian securities laws. FLI relates to future events or future performance and reflect the current expectations or beliefs of the Company's management. Anything that is not historical fact is FLI. Generally, FLI can be, without limitation, identified by the use of forward-looking wording such as "plans", "intends", "believes", "expects", "anticipates" or "estimates", and statements or phrases that certain actions, events or results "may", "might", "could", "should" or "would" occur, and similar expressions. FLI is not historical fact, is made as of the date of this news release and includes, without limitation, statements and discussions of future plans, intentions, expectations, estimates and forecasts, and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Lemon Lake project. FLI involves numerous risks and uncertainties, and are based on assumptions, and actual results might differ materially from results suggested in any FLI. These risks and uncertainties include, among other things, the availability of financing to continue exploration activities, the availability and cost of qualified exploration personnel and service providers, and that future exploration results at the Lemon Lake project will not be as anticipated. In making any FLI in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Lemon Lake project will be as anticipated. Although management has endeavored to evaluate and use reasonable assumptions and to identify important factors that could cause actual results to differ materially from those contained in FLI, these assumptions may prove incorrect and there may be other factors that cause results not to be as intended, expected, anticipated or estimated. There can be no assurance that FLI will prove to be accurate, and actual results and future events could differ materially from those expressed in FLI. Accordingly, readers should not place undue reliance on FLI, and are further cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any FLI expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
