Prospect Ridge Announces Non-Brokered Private Placement

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / December 12, 2025 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce a non-brokered private placement (the "Offering") of up to $800,000 through the issue of up to 8,888,889 critical mineral flow-through units (the "Units") at a price of $0.09 per Unit.

Len Brownlie, Ph.D, President and CEO of Prospect Ridge, commented: "Our multi-faceted 2025 exploration campaign was successful in identifying multiple drill targets on the Company's Excalibur, Castle and Camelot copper-gold porphyry projects. The next step towards a discovery on each of these projects will be to drill test them. While our recently completed financing added $1.6M to the treasury to fund the initial 2026 drilling program, the Company has elected, in light of further investment interest, to accept additional funds for the program at this time. The additional funds will alleviate market uncertainty and ensure that the Company is able to secure all required contractors and supplies early in 2026 - ahead of an expected shortage in the summer of 2026 - allowing management to begin drilling as soon as possible and to more fully focus on the program itself."

Each Unit will consist of one flow-through common share (an "FT Share") of the Company and one-half of a warrant, with a whole warrant (a "Warrant") being exercisable to purchase one non-flow-through common share (a "Warrant Share") of the Company at a price of $0.15 for a period of two years after closing. The Warrants will be subject to accelerated expiry if the Company's common shares trade or close on the Canadian Securities Exchange (the "Exchange") at $0.25 or more for ten consecutive trading days.

The Company intends to use the gross proceeds from the FT Shares to incur, on its mineral projects in British Columbia, eligible "Canadian exploration expenses" that will also qualify as "flow-through critical mineral mining expenditures" under the Income Tax Act (Canada) (the "ITA"). The Company intends to allocate the funds to its 2026 drill programs at one or more of the Company's Excalibur, Castle and Camelot projects.

The closing of the Offering is subject to certain closing conditions, including the receipt of all necessary approvals including Exchange acceptance. All securities issued will be subject to a statutory and/or Exchange hold period of four months plus one day from closing. The Company may pay finder fees in compliance with applicable securities laws and Exchange policies and subject to the receipt of any necessary regulatory approvals.