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Vancouver, British Columbia (Newsfile Corp. - February 18, 2021) - Pacific Ridge Exploration Ltd. (TSXV: PEX) ( Pacific Ridge or the Company ) announces its plans to issue up to 8,000,000 units in a flow-through private placement at a price of $0.142 per unit ( FT Unit ) for gross proceeds of $1,136,000 (the Financing ). DELPHI Unternehmensberatung Aktiengesellschaft ( DELPHI ) intends to acquire all of the FT Units. I would like to thank DELPHI for their vote of confidence, said Blaine Monaghan, President and CEO of Pacific Ridge. With this investment, DELPHI will become Pacific Ridge s largest shareholder. Proceeds from this Financing will be used to drill our flagship Kliyul copper-gold project, located in British Columbia. The drill program is expected to commence this summer.

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