Prospect Ridge Announces Private Placement and Promotional Services

Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR | OTC:PRRSF | FRA:OED) is pleased to announce that it will be conducting a non-brokered private placement of up to 31,250,000 units at a price of $0.16 per unit for gross proceeds of up to $5,000,000. Each unit will be comprised of one common share and one-half of a purchase warrant, with a whole warrant being exercisable to purchase one common share at a price of $0.25 for a period of two years subject to accelerated expiry on the occurrence of certain events.

The Company also announces that it has entered into a consulting agreement with High Tide Consulting Corp. ("HTCC"), to provide corporate communication services, which include assistance in planning and executing awareness programs, coordinating introductions and communications with the financial community, managing social media accounts, responding to investor inquiries and monitoring the results of various programs. The activities are expected to occur primarily through email, social media and [list additional mediums/platforms through which activity will occur]. HTCC's services will commence immediately, for an initial term of 3 months and thereafter on a month to month basis. In consideration of the services, HTCC will receive $7,500 per month, and 300,000 stock options. HTCC's business address is located at [*], and HTCC can be reached at [phone number] or [email address]. HTCC is at arm's length to the Company.

The Company has also entered into a Publishing Services Agreement with 0865381 B.C. Ltd. doing business as Volume Hunters ("VH"), to disseminate previously disclosed public information over various social media, forums, blogs, publishing websites and other communication platforms. VH's activities are expected to commence on or about June 15, 2024, for a term of one year. In consideration of the services, VH will receive $65,000. VH's business address is located at [*], and VH can be reached at [phone number] or [email address]. VH is at arm's length to the Company.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia based exploration and development company focused on gold exploration near the prolific Golden Triangle. Prospect Ridge's management and technical team collectively possess over 100 years of mineral exploration experience and believe that its Knauss Creek and Holy Grail properties have the potential to extend the boundaries of the Golden Triangle to include this under-explored region.

Contact Information

Michael Iverson, CEO & Director

Telephone: 604.351.3351

Cautionary Statements

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", "might", "could", "should" or "would" 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, forecasts, estimates and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Knauss Creek and Holy Grail projects. These forward-looking statements involve numerous assumptions, 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. 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 intended, anticipated or estimated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed 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 outlook that are expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Source

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