Prospect Ridge Resources Announces Completion of a LiDAR Survey Over the Majority of the Holy Grail District

VANCOUVER, British Columbia, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE: PRR) (OTC: PRRSF) – is pleased to announce the completion of a LiDAR survey over 33,000 hectares on the Holy Grail property, see Figure 1. The Company plans to complete additional surveys in the future to cover the entire property. The LiDAR survey will provide a detailed photogrammetric and topographic map with high resolution 3D imagery at a 2-centimeter accuracy. The survey will be a key tool in exploration, improving field work planning, the delineation of drill targets, and streamlining the target generation process. For target generation, the survey will be a critical tool in the identification of old workings and structural mapping by remote sensing. Multiple methods will be applied to assist in the mapping of structural folds, fault planes, size, persistence, spatial variations, and numbers of the rock discontinuities on the property. Much of the Gold and Silver mineralization identified to date is structurally controlled and occurs in the proximity to regional faults and associated structures as intrusion related veins, stockwork and breccias with mineralization persisting through all intersected lithologies.

Field work is still under way on the Holy Grail. The ability to work 365 days a year is a great advantage to our team, vectoring in on what appears to be driving all the visible gold, multi oz silver and percentage Copper, Lead, Zinc and tungsten in so many locations spread over hundreds of square km’s, Prospect Ridge will be releasing results continuously as results become available.

Michael Iverson, CEO states, “We are quickly building a deeper understanding of the geology and mineralization at the Holy Grail district. The recently completed LiDAR survey is just another important tool available to our team. Most of the Gold mineralization on the property appears to be structurally controlled and LiDAR will assist the ground teams identify new potential targets in areas under cover, applying the fingerprint of the showings already identified to date.”

Figure 1 – LiDAR Areas in the Holy Grail Claim Package is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b6fa57eb-cd4b-4b60 ...

Qualified Person

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