Prospect Ridge to Launch 2,000 Metre Diamond Drill Program at 100% Owned Camelot Copper-Gold Project in B.C.'S Cariboo Mining District

Rhea-AI Summary

Prospect Ridge (OTC:PRRSF) will begin a 2,000 metre diamond drill program at its 100% owned Camelot copper-gold project in British Columbia on November 1, 2025. The 2,646-hectare property lies ~65 km east of Williams Lake in the Quesnel Terrane. The company identified a 1,700 m x 500 m coincident chargeability-magnetic anomaly and defined 10 high-priority and 10 lower-priority drill collar locations for a ten-hole program. Prospect Ridge reports $2.8M in treasury, all permits in place, and has contracted Dorado Drilling to execute the program.

Positive

• Drilling to start Nov 1, 2025 for rapid activity
• Company holds $2.8M in treasury
• All permits in place for the 2,000 m program
• Ten high-priority and ten lower-priority drill targets defined
• Contracted Dorado Drilling to perform drilling

Negative

• Historic positive intercept limited: 0.25% Cu over 21.3 m from 1974 vertical hole drilled to 61 m
• Program size is modest at 2,000 m (ten holes) and may provide limited immediate resource definition
• Target area lies beneath shallow till cover and is largely untested by previous deep drilling

Drill Program Commencing November 1, 2025 Following Identification of High Priority Copper-Gold Porphyry Targets

VANCOUVER, BC / ACCESS Newswire / October 30, 2025 / Prospect Ridge Resources Corporation (the "Company" or "Prospect Ridge") (CSE:PRR)(OTC:PRRSF)(FRA:OED) is pleased to announce the finalization of priority drill targets for its upcoming 2,000 m diamond drill program at the Company's 100% owned Camelot copper-gold porphyry project in British Columbia's prolific Cariboo Mining District. Drilling is scheduled to begin November 1, 2025.

The 2,646-hectare Camelot property lies approximately 65 kilometres east of Williams Lake, B.C. within the Quesnel Terrane - home to multiple producing copper-gold and copper-molybdenum porphyry deposits, including the nearby Gibraltar and Mount Polley mines (Figure 1). The project area benefits from year-round road access and excellent regional infrastructure.

"Our technical team, which includes Equity Exploration Consultants Ltd., Members of the Board and our Technical Advisory Committee have done an exceptional job integrating decades of historic data," stated Len Brownlie, Ph.D., CEO of Prospect Ridge. "Very recently, an inversion of aerial magnetics data has revealed compelling signatures showing elevated magnetic features coincident with areas of elevated chargeability from an earlier IP survey. These inverted magnetic features at depth are consistent with potential apophyses on the shoulder of a larger batholith and are hypothesized to represent a porphyry stockwith disseminated sulphides and magnetite. Supporting this hypothesis, a historic 1974 vertical percussion hole (PDH74-L04), drilled to just 61metres depth, intersected 0.25% copper over 21.3 metres within a potassic-altered biotite monzoniteⁱ that appears to have clipped the outer flank of this hypothesized stock. With over $2.8M in our treasury, all permits in place and drilling set to begin on November 1, we are very excited to test these newly characterized targets".

High Priority Drill Targets Defined

Previous exploration work^ii,iii has outlined a 1700 m x 500 m coincident chargeability-magnetic anomaly trending northeast-southwest beneath shallow till cover in an area that has not been previously drilled (Figure 2). The anomaly lies within the same structural, stratigraphic, and intrusive trend as the Mount Polley copper-gold mine, located 34 km northwest of Camelot.

Drill targeting for the 2025 program draws on historic copper-in-soil anomalies, a 2011 induced polarization (IP) survey, and an inversion model of 2021 airborne magnetic data. When integrated, these datasets highlight target signatures typical of alkalic porphyries - moderately high-amplitude magnetic inversion anomalies with chimney-like geometries on the shoulders of broader, higher-amplitude anomalies, coincident with moderate-high to high chargeability that may reflect disseminated sulphide mineralization.Prospect Ridge has identified ten high priority and ten lower priority drill collar locations to probe these exciting targets in a ten hole diamond drill program (Figure 3).

A cross section derived from an inversion of the aerial magnetic data for the highest priority drill target (CAM25-001) is shown in Figure 4.

Highly regarded Dorado Drilling from Vernon, B.C. has been contracted to conduct the 2025 drilling program, with a drill rig currently enroute from Prince George to Horsefly, B.C.

About the Camelot Property

The Camelot project covers approximately 26 square kilometres in central B.C, and is located approximately 34 km southeast of Imperial Metals' Mount Polley mine, as well as 13 km northeast of Vizsla Copper's Woodjam project. (Figure 1).

The property is centered on the Lemon Lake stock, a Late Triassic to Early Jurassic multi-phase pluton hosted in volcanic units of the Quesnel Terrane. The approximately five-kilometre-wide pluton was formed by early phases of gabbro and diorite cut by younger monzonite porphyries, breccias, and late-stage monzonite-syenite dikes. Moderate K-feldspar and biotite alteration, as well as local pyrite-chalcopyrite mineralization, are primarily associated with monzonite porphyry. Zones of sericite-pyrite (or phyllic) alteration are poorly developed and quartz veining is absent, consistent with the interpreted alkalic nature of the system.

Figure 1: Map showing location of the Camelot property relative to nearby mines and deposits*

*Sources for Figure 1 resources:

1. Mt. Polley: https://www.imperialmetals.com/assets/docs/mp-technical-report-may-20-2016.pdf
2. QR: https://osiskogr.com/en/osisko-gold-royalties-announces-spin-out-of-mining-assets-and-creation-of-a-premier-north-american-gold-development-company/
3. Woodjam: https://www.vizslacopper.com/projects/woodjam-project/overview/

Figure 2: Property geology, soil geochemistry, and IP data compilation over airborne TMI (total magnetic intensity) map (after Baknes, 2023).

Figure 3: Location of proposed high-priority drill collars defined for the upcoming Camelot drill program over combined magnetic and chargeability maps. Dotted black lines represent existing logging roads that will facilitate easy access to most drill sites

Figure 4: Cross-section of magnetic inversion model showing highest priority drill hole CAM25-001 and a chimney-like feature of moderately-high magnetic response.

Land Acknowledgement

Prospect Ridge acknowledges that Camelot is situated within the traditional territories of the Williams Lake Indian Band, Xatsull First Nation, Whispering Pines/Clinton Indian Band, Northern Shuswap Tribal Council and the Neskonlith Indian Band. The Company is committed to building positive, transparent, and mutually beneficial relationships with Indigenous communities founded on trust, respect, and open communication.

Qualified Person Statement

All technical data, as disclosed in this press release, has been verified by Ron Voordouw, Ph.D, P.Geo. Director of Geoscience for Equity Exploration Consultants Ltd., a consultant to the Company and a qualified person as defined under the terms of National Instrument 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its north-central B.C. located Golden Horseshoe and Cariboo projects - high-potential copper-gold systems positioned within one of Canada's most under-explored yet geologically endowed mineral belts.

Contact Information

Prospect Ridge Resources Corp.
Mike Iverson - Chairman, Director
Email: mike@miverson.ca

Sources of Technical Information

(i). Baknes, M. J. 2023. Drilling Report on the Lemon Lake Project. B.C. Mines Branch Assessment Report Event No.5993800

(ii). Britton, R., 2021 2021 Geological - hand trenching, airborne Magnetic - VLF survey and petrological reports on the Lemon Lake property B.C. Mines Branch Assessment Report 39604

(iii). Bailey, D. 2012 Lemon Lake property Horsefly Induced Polarization and Magnetometer Survey B.C. Mines Branch Assessment Report 33088.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information ("FLI") that may constitute forward-looking information within the meaning of applicable Canadian securities laws. FLI relates to future events or future performance and reflect the current expectations or beliefs of the Company's management. Anything that is not historical fact is FLI. Generally, FLI can be, without limitation, identified by the use of forward-looking wording such as "plans", "intends", "believes", "expects", "anticipates" or "estimates", and statements or phrases that certain actions, events or results "may", "might", "could", "should" or "would" occur, and similar expressions. FLI is not historical fact, is made as of the date of this news release and includes, without limitation, statements and discussions of future plans, intentions, expectations, estimates and forecasts, and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Camelot project. FLI involves numerous risks and uncertainties, and are based on assumptions, and actual results might differ materially from results suggested in any FLI. These risks and uncertainties include, among other things, the availability of financing to continue exploration activities, the availability and cost of qualified exploration personnel and service providers, and that future exploration results at the Camelot project will not be as anticipated. In making any FLI in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Camelot project will be as anticipated. Although management has endeavored to evaluate and use reasonable assumptions and to identify important factors that could cause actual results to differ materially from those contained in FLI, these assumptions may prove incorrect and there may be other factors that cause results not to be as intended, expected, anticipated or estimated. There can be no assurance that FLI will prove to be accurate, and actual results and future events could differ materially from those expressed in FLI. Accordingly, readers should not place undue reliance on FLI, and are further cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any FLI expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE: Prospect Ridge Resources Corp.

View the original press release on ACCESS Newswire

FAQ

When will Prospect Ridge (PRRSF) begin drilling at Camelot?

Drilling is scheduled to begin on November 1, 2025.

How large is the Camelot drill program for PRRSF and how many holes?

The program is 2,000 metres of diamond drilling across a planned ten-hole program.

What funding does Prospect Ridge (PRRSF) have for the 2025 Camelot program?

The company reports approximately $2.8M in treasury to fund activities.

What evidence supports the Camelot targets for PRRSF drilling?

Targets integrate historic copper-in-soil anomalies, a 2011 IP survey, and an inversion of 2021 airborne magnetic data showing a 1,700 m x 500 m coincident anomaly.

Who is contracted to drill Prospect Ridge's Camelot program (PRRSF)?

Dorado Drilling from Vernon, B.C. has been contracted to conduct the program.

What notable historic intercept exists at Camelot before PRRSF's 2025 drilling?

A 1974 vertical percussion hole (PDH74-L04) drilled to 61 m intersected 0.25% copper over 21.3 m.