Prospect Ridge Completes Earn in of 100% Ownership of Camelot Copper-Gold Porphyry Project and Readies 2026 Exploration Plan

Executive Summary

• Prospect Ridge Resources completed the earn‑in of its 100 % interest in the Camelot Copper‑Gold Porphyry Project by issuing 2,303,121 common shares valued at approximately $175,000.
• The company announced a non‑brokered flow‑through private placement for up to $450,000 (up to 5,000,000 shares at $0.09 per share) to fund exploration on Excalibur, Castle and Camelot projects.
• Exploration plans for 2026 are being finalized; detailed drilling programs will be disclosed within the next six weeks.

Key Details

• Earn‑in Completion: Final payment of 2,303,121 common shares issued on March 2 2026, valued at $175,000 based on the 10‑day VWAP on the CSE.
• Project Acquired: 100 % interest in the Camelot Copper‑Gold Porphyry Project (Golden Horseshoe & Cariboo regions, BC).
• Reference: Full terms of the acquisition were disclosed in a news release dated September 10 2025.
• CEO Comment: Len Brownlie highlighted that recent drill results (see Feb 25 2026 release) confirm Camelot’s addition to the company’s pipeline of large‑scale copper‑gold porphyry targets.
• Exploration Plans 2026: Finalizing drilling and associated work programs across priority BC projects; detailed announcements expected within six weeks.
• Flow‑Through Financing: Non‑brokered private placement up to $450,000 consisting of up to 5,000,000 critical‑mineral flow‑through shares at $0.09 per share.
• Use of Proceeds: Eligible Canadian exploration expenses on Excalibur, Castle, and Camelot projects that qualify as flow‑through critical‑mineral mining expenditures under the Income Tax Act (Canada).
• Closing Conditions: Subject to customary conditions, including regulatory approvals and acceptance by the Canadian Securities Exchange.
• Statutory Hold Period: All securities issued will be subject to a four‑month plus one‑day hold period from closing.
• Finder’s Fees: Company may pay finder’s fees in accordance with applicable securities laws and exchange policies, pending required approvals.
• U.S. Offering Restrictions: Securities are not registered under the U.S. Securities Act and cannot be offered or sold to U.S. persons absent an exemption.

Notable Quotes

“Camelot greatly strengthens our portfolio of large‑scale copper‑gold exploration assets in the Golden Horseshoe and Cariboo regions…our recently released drill results have confirmed its addition to our growing pipeline of copper‑gold porphyry targets.” – Len Brownlie, CEO