PROSPECT RIDGE RESOURCES ANNOUNCES YAN DUCHARME JOINING THE TEAM AS COMPANY'S NEW PRESIDENT, AND START OF 2022 FIELD OPERATIONS

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Jun 06, 2022, 21:47 ET

VANCOUVER, BC, June 6, 2022 /PRNewswire/ - June 6th, 2022 – Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce the appointment of Yan Ducharme as the new company President, Nicholas Luksha as the new Executive Vice President, and the start of the 2022 field operations with prospecting crews picking up where they left off at the end of the 2021 field season.

Yan Ducharme brings over 25 years of experience to the company in greenfield and brownfield exploration projects. He started his career with SEMAFO in Guinea, Western Africa, on the Jean-Gobele exploration project which later became the Kiniero mine. In Quebec, he joined Cambior at the Sleeping Giant mine, then to the exploration office where he took care of exploration projects in the four corners of the Abitibi and in the James Bay area. Mr. Ducharme was also part of the exploration team at the Rosebel Mine in Suriname, South America for Cambior/Iamgold. Yan spent several years working NioGold's Marban project which reached 1.5M oz of measured and indicated resources (32Mt at 1.48 g/t Au) and 600k oz of inferred resources (16.5Mt at 1.13 g/t Au; NI 43-101 August 15, 2013). He was Vice-President of the company when it was bought by Oban mining, now operating as Osisko (TSE:OSK). He was regional exploration manager for Canadian Malartic until the Kirkland Lake project was acquired entirely by Agnico-Eagle (TSE:AEM), and then became exploration manager for SOQUEM. Most recently, Mr. Ducharme was exploration manager for Wesdome Gold Mine's (TSE:WDO) Kiena site. Mr. Ducharme obtained a Master's degree in Earth Sciences from the University of Quebec in Montreal.

The Company is excited to be back in the field. The prospecting crews mobilized and started collecting more channel, chip, and grab rock samples across the Holy Grail and Knauss Creek properties. The crews started by targeting known zones with high grades of gold, silver, and other metals to help to prepare for drilling which is slated to start during the summer. The crews will then mobilize to other areas of the vast properties to sample and earmark future drill targets. With the assistance of a Lidar survey, the vast system of logging roads and helicopter, we will continue like last year with a very aggressive program to find more high-grade occurrences of gold to generate drilling targets. Mr. Ducharme's leadership will prove to be valuable with the prospecting crews and the drilling program when started.

Mr. Luksha will continue to oversee and manage an array of the companies' corporate responsibilities from his newly appointed role as Executive Vice President. It is with great excitement and anticipation that he hands the presidential reins to Mr. Ducharme.

Michael Iverson, CEO states, "Having Yan Ducharme come on as President and run the field operations will be a huge asset to our team and shareholders. My many years of working with Yan in the past gives me a great deal of confidence that he will expediate our coming results in proving up our resources. He's a homerun hitter and this will be his next grand slam as we get the field operations going. Welcome to the team Yan."

Qualified Person

All scientific or technical information included in this news release has been reviewed, verified and approved by Rein Turna, P.Geo., a consultant to the Company and a qualified person as defined by National Instrument 43-101.

About Holy Grail & Knauss Creek

The Holy Grail and Knauss properties start about 10 kilometers north of the town of Terrace in the Province of British Columbia, Canada. They are easily accessible by two highways and a network of logging roads. They are contiguous and form a horseshoe covering about 730 square kilometers.

The southern tip of the Golden Triangle arrives just northwest of the properties. The Bower Lake and the Hazelton Groups hosting most of the deposits and mines of this area are also underlying the Holy Grail and Knauss Creek properties.

A few gold, silver, copper, lead and zinc occurrences where found in the past. The most notable is the Dorreen mine where three levels were developed and it is believed that around 700 tons of ore were mined out at an average grade of more than 10 g/t Au.

The properties hold more than 10 very interesting gold showings, sometimes with silver, copper, lead and zinc.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration. Prospect Ridge's management and technical team cumulate over 100 years of mineral exploration experience and believes the Holy Grail and Knauss Creek properties to have the potential to extend the boundaries of the Golden Triangle to cover this vast under-explored region.

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 that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, positive exploration results at the Knauss Creek and Holy Grail projects and the Company's use of proceeds from the Private Placement. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that future exploration results at the Knauss Creek and Holy Grail projects will not be as anticipated and that the Company will use the proceeds from the Private Placement as anticipated.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Knauss Creek and Holy Grail projects will be as anticipated and that the Company will use the proceeds from the Private Placement as anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE Prospect Ridge Resources Corp.