Excalibur IP Survey Results Confirm High Priority Copper Gold Drill Targets

Executive Summary

• Prospect Ridge received final 2D IP inversion data for its 100% owned Excalibur copper‑gold porphyry project, identifying a ~1 km × 2 km geophysical target with coincident chargeability, resistivity and magnetic anomalies.
• The target aligns with historic copper‑in‑soil anomalies and suggests strong potential for porphyry‑style mineralization; the company plans a maiden 2,000 m diamond drill program to begin as early as June 2026 pending permits and weather.
• Management highlighted that the IP survey reduces exploration risk and will be used to confirm collar locations for multiple drill holes; outreach activities at upcoming conferences were also announced.

Key Details

• Survey Scope: 26.3 line‑km of induced polarization (IP) data collected by Simcoe Geosciences over six east‑west profiles across the 27.71 km² Excalibur Property.
• Geophysical Target: Approximately 1 km × 2 km zone showing:
• Elevated chargeability (>20 mV/V) indicating pyrite/chalcopyrite presence.
• Low resistivity (<200 Ω·m) consistent with sulfide mineralization.
• Moderate magnetic anomaly interpreted as magnetite alteration within a potassic core.
• Correlation with Soil Geochemistry: Target overlaps copper, gold and molybdenum soil anomalies from previous programs (2019‑2025).
• Interpretation: The combination of chargeability, resistivity, and magnetic responses is characteristic of a buried porphyry system with a pyrite‑rich halo flanking the core.
• Drilling Plans:
• Minimum 2,000 m diamond drill program slated for June 2026 (subject to drill permit applied for on 30 Nov 2025 and favorable weather).
• Multiple collars will be confirmed over the next few weeks based on IP results.
• Technical Oversight: Qualified Person Ron Voordouw, Ph.D., P.Geo., Director of Geoscience, Equity Exploration Consultants Ltd., approved all technical information.
• Corporate Outreach:
• New corporate video released detailing 2025 initiatives and 2026 plans.
• Booth #114 at Vancouver Resource Investment Conference (Jan 25‑26, 2026) – CEO presentation scheduled.
• Drill core from Camelot program displayed at Association for Mineral Exploration Roundup (Jan 27‑29).
• Exhibitor booth #2412B at PDAC conference (Mar 1‑4, 2026).
• Option Payments & Royalty: Project subject to option payments totaling $159,000 and 920,000 shares plus a 1.5% NSR royalty (buy‑down possible to 0.6% for $400,000 before resource definition).

Notable Quotes

“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.” – Len Brownlie, President & CEO

“The IP survey has certainly helped define potential drill targets at Excalibur… it is not hard to see why Prospect Ridge is excited to drill this target which has never seen previous drilling.” – Henry Awmack, Co‑vendor & Technical Committee Member