Prospect Ridge Announces Closing of Flow-Through Unit Private Placement

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / December 5, 2025 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce that it has closed the third and final tranche of its non-brokered private placement of $0.12 flow-through units announced on October 17, 2025 (see news release for details), issuing 416,667 flow-through units for gross proceeds of $50,000.00. All securities issued in the third tranche are subject to a statutory hold period expiring on April 4, 2026, and no finder fees were paid.

Over the three tranches, the Company raised aggregate gross proceeds of $1,632,800.16 through the issue of 13,606,668 flow-through units ("FT Unit"), each comprised of one flow-through common share (a "Common Share") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.18 for a period of two years after Closing, subject to accelerated expiry if the Company's common shares trade or close on the Canadian Securities Exchange (the "Exchange") at $0.35 or more for ten consecutive trading days. In the aggregate, insiders purchased 963,333 FT Units, which as of the third tranche closing represented approximately 1% of the then issued and outstanding shares, or 1.47% if the associated warrants were immediately exercised. The participation by insiders constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied upon the exemption from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a), (b) and (c), and sections 5.7(1)(a) and (b), respectively, of MI 61-101.

Len Brownlie, President and CEO of Prospect Ridge commented: "Prospect Ridge is very grateful to the investors who have supported us during this financing. Your trust and confidence in Prospect Ridge and its exploration projects is truly appreciated. We look forward to efficiently allocating these funds for the discovery of B.C.'s next significant copper-gold porphyry deposit to create value for all of our shareholders."