Vancouver, B.C. - April 13, 2011 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX) (the "Company") reports that an airborne magnetometer survey has been completed over a portion of the Mariposa Gold Property in the Yukon's White Gold District. The survey covered the area of six gold-in-soil targets detected during the 2010 exploration program, including the 3500m long x 600m wide Skookum Jim gold anomaly.
The high resolution aeromagnetic survey was conducted by Precision GeoSurveys Inc. of Vancouver, BC, using a helicopter-mounted cesium vapor magnetometer. A total of 900 line kilometers were flown along 100 metre spaced lines and 1000 metre spaced tie lines. Results are currently being processed and will be subsequently interpreted together with geochemical datasets.
Recent work by Pacific Ridge, and also by some companies within the White Gold District, has shown that structural discontinuities are favourable hosts for gold mineralization. Both airborne and ground magnetic surveys have been successfully used as mapping tools for delineation of these structures, as well as alteration patterns and underlying rock types. The integration of geophysical results with gold-in-soil geochemical trends is therefore considered an effective method for identification of drill targets.
Follow-up ground magnetic and electromagnetic surveying will also be conducted in advance of this year's drill program at Mariposa. This survey will be conducted at greater detail than the aeromagnetic coverage and will provide optimum definition of targets for initial drill holes. Commencement of drilling is planned for mid-June.
During the period to April 7, 2011 exercise of $0.15 share purchase warrants has resulted in the issuance of 1,205,643 common shares with funds received in the amount of $ 180,846.
For further information, contact:
Pacific Ridge Exploration Ltd.
John S. Brock
Tel: (604) 604.641.2759
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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.