Not For Dissemination In The United States
Vancouver, B.C. - August 24, 2009 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX) (the "Company") reports that, further to its news release of July 24, 2009, announcing a proposal to sell by way of non-brokered private placements up to 2,500,000 Flow-Through Shares to Canadian resident investors, the Company has amended the terms of the Flow-Though offering by adding one-half of a transferable non-flow-through share purchase warrant, each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.25 per share for 12 months.
The amendment, which is subject to regulatory approval, will be available for purchasers who have already subscribed to the Flow-Through offering.
"John S. Brock"
John S. Brock
For further information, contact:
Pacific Ridge Exploration Ltd.
John S. Brock
Tel: (604) 604.641.2759
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.