July 28, 2010

Proposed Private Placements

Not For Dissemination In The United States

Vancouver, B.C. - July 28, 2010 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX)(the "Company") reports that, with a planned expansion of this year's exploration program on mineral properties held within it's Klondike Kate Project, located in the Yukon's South Klondike, additional funding will be raised by way of proposed private placement financings.

The Company is proposing to sell by way of non-brokered private placement up to 4,000,000 Flow-Through Units to Canadian resident investors, each Flow-Though Unit priced at $0.14 to raise gross proceeds of up to $560,000. Each Flow-Through Unit is comprised of one Flow-Through Share and one-half of a transferable Non-Flow-Through share purchase warrant, each whole warrant entitling the holder to purchase one Non-Flow-Through common share at a price of $0.15 per share for 12 months.

The Company is also proposing to sell by way of non-brokered private placement up to 2,000,000 Non-Flow-Through Units, each Non-Flow-Through Unit priced at $0.12 to raise gross proceeds of $240,000. Each Non-Flow-Through 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 $0.15 per share for 12 months.

The Company will use the gross proceeds from the sale of the Flow-Through Shares comprising part of the Flow-Through Units for Canadian Exploration Expenses ("CEE"), within the meaning of the Income Tax Act (Canada), with the Company using its best efforts to ensure that such CEE qualify as a "flow-through mining expenditure" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's mineral exploration projects located in Yukon, Canada. The Company expects to renounce such Canadian Exploration Expenses with an effective date of December 31, 2010. The Company intends to use the gross proceeds from the sale of the Non-Flow-Through Units for general working capital purposes and development of the Company's mineral property portfolio.

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

The private placements and payment of finders' fees are subject to regulatory approval.
The Company has also received notice from the Government of Yukon Territory that it is eligible for receipt of grant monies under the provisions of the 2010 Yukon Mineral Incentive Program ("YMIP") in the amounts of $50,000 for exploration work performed by the Company in the South Klondike on its Mariposa Property and $45,000 for exploration work performed on its Gold Cap Property.

Geochemical soil sampling is proceeding on the Mariposa Property with initial results now warranting an expanded program, the details of which will be reported when exploration data compilations have been up-dated. 

"John S. Brock"
John S. Brock
President

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.