Prospect Ridge completes Camelot earn-in

Executive Summary

• Prospect Ridge Resources Corp. completed the earn-in of its 100% interest in the Camelot Copper-Gold Porphyry Project from Orogen Royalties Inc. by issuing 2,303,121 common shares valued at $175,000.
• The company announced a non-brokered flow-through private placement of up to $450,000, consisting of up to 5 million critical mineral flow-through shares priced at $0.09 per share, with proceeds designated for exploration on the Excalibur, Castle, and Camelot projects.
• Prospect Ridge is finalizing its 2026 exploration plan, which includes drilling and work programs across its priority British Columbia projects, with details to be announced within six weeks.

Key Details

• Camelot Project Earn-In Completion:
  • Issued 2,303,121 common shares to Orogen Royalties Inc.
  • Effective date of issuance: March 2, 2026.
  • Value of shares: $175,000 (calculated based on the 10-day VWAP on the Canadian Securities Exchange).
  • Result: Prospect Ridge now holds 100% interest in the Camelot Copper-Gold Porphyry Project.
• Flow-Through Financing:
  • Structure: Non-brokered flow-through private placement.
  • Maximum Gross Proceeds: Up to $450,000.
  • Securities: Up to 5,000,000 critical mineral flow-through shares.
  • Price: $0.09 per share.
  • Use of Proceeds: Eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures on the Excalibur, Castle, and Camelot projects.
  • Conditions: Subject to customary closing conditions, including regulatory approvals and CSE acceptance.
  • Hold Period: Statutory hold of four months plus one day from the closing date.
• 2026 Exploration Strategy:
  • Focus: Systematically testing large-scale copper-gold porphyry systems in the Golden Horseshoe and Cariboo regions of British Columbia.
  • Timeline: Details of drilling and associated work programs will be announced within the next six weeks.
  • Context: Recent drill results (referenced from Feb 25, 2026) confirmed Camelot as a copper-gold porphyry target, complementing the Excalibur and Castle projects.

Notable Quotes

• "Camelot greatly strengthens our portfolio of large-scale copper-gold exploration assets in the Golden Horseshoe and Cariboo regions of central and Northern British Columbia -- areas globally recognized for hosting major copper-gold discoveries. At Camelot, our recently released drill results have confirmed its addition to our growing pipeline of copper-gold porphyry targets, complementing our existing Excalibur and Castle projects." — Len Brownlie, CEO