August 19, 2010

Proposed Private Placements

Vancouver, B.C. - August 19, 2010 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX)(the "Company") reports that it is proposing to sell by way of non-brokered private placement up to 500,000 Units, each Unit priced at $0.19 to raise gross proceeds of $95,000. Each Unit is comprised of one common share and one transferable share purchase warrant, each warrant entitling the holder to purchase one common share at a price of $0.25 per share for 12 months.

The Company intends to use the gross proceeds from the sale of the Units for general working capital purposes and development of the Company's mineral property portfolio.

In connection with the private placement, the Company is proposing to pay finders' fees in cash (6%) or shares equal in number to 6% of the number of Units purchased by investors that may be introduced to the Company by finders.

The private placement and payment of finders' fees are subject to regulatory approval.

"John S. Brock"
John S. Brock
President

For further information, contact:

Corporate Information

Pacific Ridge Exploration Ltd.
John S. Brock
President and CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com


Corporate Development

Manex Resource Group
Liana Shahinian
Director of Investor Relations
Tel: (604) 641-2773

For further information, contact:

Corporate Information
Pacific Ridge Exploration Ltd.
John S. Brock
President
Tel: (604) 604.641.2759
www.pacificridgeexploration.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information
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.