VANCOUVER -- Pacific Ridge Exploration Ltd. (TSX Venture: PEX) ("Pacific Ridge") has granted incentive stock options under its 10% rolling stock option plan to directors and officers to purchase a total of 1,142,000 common shares at $0.05 per share exercisable for a period of five years. The options are subject to acceptance for filing by the TSX Venture Exchange.
About Pacific Ridge
Pacific Ridge is a mineral exploration company currently focused on the Yukon's White Gold and Klondike Gold Districts, with four exploration projects that are well located in the same vicinity and in generally similar geological environments as found with Kinross Gold's White Gold deposit, Kaminak Gold's Coffee gold deposits and Comstock Metals' QV recent gold discovery. Pacific Ridge's 295 square km Mariposa gold project covers the long-time producing Scroggie and Mariposa placer gold creeks. Mariposa has seen $6 million in soil sampling, trenching and drilling spent over the past three years resulting in discovery of a number of well mineralized gold zones. Pacific Ridge's 78 square km King Solomon Project, located in the heart of the Klondike gold camp, lies at the headwaters of some of the Klondike's most productive placer gold creeks, including Gold Bottom, Dominion, Sulphur and Quartz creeks. The 49 square km Gold Cap/Polar-Stewart property adjoins the Kinross White Gold property and contains yet-to-be drilled gold-in-soil anomalies, the strongest of which may represent an easterly extension of a gold-in-soil anomaly reported within the White Gold property. Pacific Ridge's Fyre Lake property, in Yukon's Finlayson Lake District, hosts a copper-gold-cobalt massive sulphide deposit with a NI43-101 compliant indicated mineral resource of 3.6 million tonnes grading 1.57% copper, 0.10% cobalt and 0.61 grams gold per tonne at a 1 percent copper cut-off grade plus an inferred mineral resource, at the same cut-off grade, of 5.4 million tonnes grading 1.48% copper, 0.08% cobalt and 0.53 grams gold per tonne. This open-ended copper and gold deposit has yet to be fully defined by drilling. Joint venture participation is presently being considered for Fyre Lake.
The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., Vice President Exploration of Pacific Ridge Exploration, and Qualified Person as defined by National Instrument 43-101 policy.
On behalf of the Board of Directors,
John S. Brock
President & CEO
Pacific Ridge Exploration Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.