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VANCOUVER, BC / ACCESS Newswire / January 23, 2026 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR,OTC:PRRSF)(OTCQB:PRRSF)(FRA:OED) is pleased to announce the receipt of final 2D inversions from an induced polarization ("IP") survey completed on the Company's 100%* owned Excalibur copper-gold calc-alkaline porphyry project. The survey was carried out by Simcoe Geosciences Limited and covered 26.3 line-kilometers along six east-west oriented IP profiles. The road-accessible Excalibur Property consists of 13 contiguous mineral claims covering 27.71 km2 that are located ~70 km north northeast of Smithers and ~55 km northeast of Hazelton, British Columbia (Figure 1).
The IP survey successfully identified a geophysical target that measures ~ 1 km x 2 km defined by coincident chargeability, resistivity, and magnetic responses. This geophysical target overlaps with the copper in soil anomalies collected in previous exploration campaigns and during the summer 2025 program. Together, these results suggest a strong potential for porphyry-style mineralization.
Henry Awmack, Excalibur Property co-vendor and member of Prospect Ridge's Technical Committee, states: "The IP survey has certainly helped define potential drill targets at Excalibur, identifying a very large volume of rock with moderate chargeability, hypothesized to represent chalcopyrite and pyrite. This drill target is partially flanked to the west by coincident high chargeability and low resistivity interpreted to be a pyrite halo so common to classic porphyry deposits and consistent with surface mapping. The moderate magnetic anomaly coincident with the moderate chargeability may be caused by magnetite alteration commonly found in the copper-bearing potassic core. When you take these positive geophysical features in combination with anomalous copper, gold and molybdenum soil samples, it is not hard to see why Prospect Ridge is excited to drill this target which has never seen previous drilling."
Prospect Ridge President and CEO, Len Brownlie, Ph.D, states: "It has taken six months, but we have used each well-planned exploration step to remove as much risk as possible ahead of the decision to drill Excalibur. My thanks go to Equity Exploration Consultants, an invaluable partner in this scientific enterprise, Simcoe Geosciences, our outstanding Technical Advisory Committee for their diligence and guidance, and to our shareholders who have made this possible. Over the next few weeks, we will confirm collar locations for multiple drill targets in a minimum 2,000 metre diamond drill program contemplated to begin as early as June, 2026, pending favourable weather conditions and receipt of a drill permit that was applied for on November 30, 2025."
IP Survey Results
Inverted sections were generated through six east-west lines covered by the IP survey, illustrate zones of elevated chargeability (greater than 20 mV/V) and low resistivity (less than 200 ohm-meters), characteristic of a pyrite-rich halo outboard of the target copper-bearing core of calc-alkaline porphyry deposits. The target area has moderate chargeability which is expected as the total sulphide content should be less than the pyrite halo. The coincident magnetic anomaly is interpreted to be caused by secondary magnetite commonly found in copper-bearing potassic core of porphyry copper deposits whereas high resistivity can be interpreted as the causative intrusion. The asymmetrical development of the system around the intrusive can be attributed to mapped, east to northeast dipping, faults that juxtapose Skeena Group sedimentary rocks against Kasalka Group volcanics in the east. An example of these features are shown in the cross section for line 6 including results from a previously completed magnetic survey, which was modelled using magnetic vector inversion (MVI) to highlight variations in magnetic susceptibility (Figure2, Figure 3, Figure 4).
*subject to option payments totalling $159,000 and 920,000 shares and a 1.5% NSR royalty that may be bought down to 0.6% for a payment of $400,000 prior to the definition of an indicated mineral resource
About the Excalibur Property
On the Excalibur Property, suspected Bulkley and Babine intrusions cut Cretaceous stratified rocks, comprising Skeena Group clastic rocks to the west and Kasalka Group andesitic rocks to the east. A 50 to 500 metre wide by >1,600 metre long, east-west trending, Babine feldspar ± hornblende ± biotite porphyry dyke has been affected by a complex pattern of alteration, ranging from unaltered to propylitic and phyllic assemblages. Several outcrops of quartz-feldspar porphyry and granodiorite to the west are believed to be apophyses of the Bulkley stock exposed south of the Excalibur Property. No significant copper gold mineralization has been found in the main target area where there is less than ~2% outcrop.
Historic work has included mapping, soil sampling, IP, and ground magnetic surveys done by Canadian Superior in 1971-721. No significant work was conducted until 2019, when a former operator1 cut five north-south trending 2500-2700 m long lines separated by 400 to 800 m in preparation for a planned IP survey which was not completed before the project was returned to the Vendors. One hundred and forty soil samples were then collected at 50 to 100 m intervals along the cut lines. Another former operator completed a 259-line kmairborne magnetic survey in 20212 and collected 207 soil samples in 20222. In 2025, Prospect Ridge collected another 50 soil samples along east-west lines and completed 26.3 line-km of IP surveys on six east-west trending lines.
A buried porphyry exploration target is supported by Prospect Ridge's 2025 IP survey, a magnetic vector inversion of the 2021 airborne magnetic survey2 and the 20191,20222 and 20252 soil geochemistry results, in an area that otherwise lacks outcrops. Prospective features of the buried target area include anomalous Mo- and Cu-in-soil, moderate IP chargeability response, and moderately high magnetic response on the flanks of a chargeability high. The geophysical and geochemical signatures together could represent a mineralized potassic alteration zone surrounded by a pyrite halo, similar to the nearby Granisle and Bell Copper porphyry deposits of the Babine Plutonic Suite. The Property has never been drilled.
Funded and Positioned for Extensive 2026 Drilling
Subject to receipt of drill permits and favourable weather conditions, Prospect Ridge expects to finalize drill targets and commence a maiden drill program at the Excalibur Project beginning in June 2026.
Investor Outreach
Management of Prospect Ridge has recently recorded a new corporate video, available on the Company's website, that provides further details on the Company's transformative initiatives in 2025 and plans for 2026.
Prospect Ridge welcomes shareholders and investors to visit us at booth #114 at the Vancouver Resource Investment Conference on January 25 and 26, 2026. A corporate presentation by Len Brownlie, President and CEO is scheduled from 1:30 pm to 1:40 pm on Sunday, January 25 in Workshop #2.
Drill core from the Company's recent Camelot drill program will be on display at Orogen Royalties Inc.'s booth at the Association for Mineral Exploration Roundup from January 27 to January 29.
In addition, the Company will have Exhibitor booth #2412B at the Prospector and Developers Association of Canada (PDAC) conference on March 1 - 4, 2026 in Toronto, ON.
First Nations Land Acknowledgement
Prospect Ridge acknowledges that Excalibur is situated within the traditional territory of the Lake Babine First Nation. Prospect Ridge is committed to developing positive and mutually beneficial relationships with First Nations based on trust and respect and a foundation of open and honest communications.
Qualified Person Statement
All technical information that forms the basis for the written disclosure in this press release, has been approved by Ron Voordouw, Ph.D., P.Geo., Director of Geoscience for Equity Exploration Consultants Ltd., who is an independent 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
See Prospect Ridge News Release dated July 8, 2025
See Prospect Ridge News Release dated October 9, 2025
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 Excalibur 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 Excalibur 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 Excalibur 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.
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