Prospect Ridge finds copper at Camelot drill

Executive Summary

• Prospect Ridge Resources Corp. reports initial visual and portable XRF results from the first six of ten diamond drill holes at its 100%-owned Camelot copper-gold project in British Columbia.
• Copper mineralization (disseminated pyrite and chalcopyrite) was confirmed in four of the first six holes (CAM25-001, -002, -005, and -006) over intervals of 75 to 120 meters.
• The company is modifying the remaining four holes based on real-time data, targeting high chargeability anomalies, with rush assays expected in late December to confirm the alkalic porphyry hypothesis.

Key Details

• Drill Program Scope: 10-hole program totaling approximately 2,000 meters; results cover the first 1,065 meters drilled in six holes (CAM25-001 to 006) over 11 days.
• Mineralization Highlights:
  • Holes CAM25-001, -002, and -006: Showed significant intervals of fine-grained disseminated pyrite and lesser chalcopyrite hosted in moderate to strong potassic-altered monzonite and intermediate to mafic volcanic rocks.
  • Hole CAM25-005: Intersected weak to moderately pyrite-mineralized diorite with trace to weak disseminated chalcopyrite and elevated (2-5%) quartz and quartz-carbonate veinlets.
  • Hole CAM25-003: Showed weak to moderate porphyry-style alteration with quartz veins, lesser K-feldspar veins, and pyrite with lesser chalcopyrite, increasing in intensity with depth.
  • Hole CAM25-004: Quick-logged as highly magnetic gabbro with full logging paused.
• Alteration and Geophysics: Mineralized intervals are associated with overprinting alteration and vein assemblages, including strong K-feldspar, albite, and epidote alteration. Targets were selected based on coincident chargeability highs and moderate magnetic highs, consistent with an alkalic porphyry exploration model.
• Methodology: Portable X-ray fluorescence (pXRF) was used for semi-quantitative real-time elemental analysis, detecting copper over core lengths of approximately 75 to 120 meters in four holes. pXRF results are regarded as qualitative screening tools complementing visual core logging.
• Next Steps: Drill core from holes CAM25-001 and CAM25-006 has been sent for rush wet-chemical and fire assays. Results are expected in late December. The final four holes (CAM25-007 to 0010) have been modified to target predominantly high chargeability targets (>27 mV/V).
• Project Location: Camelot property is a 2,646-hectare site in the Cariboo Mining District, BC, located 65 km east of Williams Lake, within the Quesnel terrane. It is situated 34 km southeast of Imperial Metal's Mount Polley and 13 km northeast of Vizsla Copper's Woodjam project.

Notable Quotes

• "The inaugural Camelot drill program has exceeded our expectations with the discovery of chalcopyrite in four of the first six holes." — Len Brownlie, PhD, CEO
• "This knowledge has allowed us to modify the drill plan on the fly, targeting predominantly high chargeability targets... We anxiously await gold and copper assay results to confirm our hypothesis that Camelot contains a significant alkalic porphyry deposit." — Len Brownlie, PhD, CEO