Pacific Ridge Acquires a new Zinc Exploration Project in Yukon

February 21, 2017

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 21, 2017) – Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (“Pacific Ridge” or the “Company”) announces that it has reached an agreement to acquire an option to earn a 100% interest in the OGI Zinc prospect, located just off the Dempster Highway, 50 km east of Dawson City, Yukon. The property contains a strong Zn-Ag soil geochemical anomaly, underlain by Road River Formation sedimentary rocks. Terms of the agreement involve making payments totaling $225,000, issuing 1,000,000 shares and completing $2.5 million in exploration over 5 years, with an initial payment of $10,000 and issuance of 100,000 shares. The Company must also issue 500,000 shares upon commencement of commercial production. The vendors retain a 2% NSR, half of which can be purchased for $2 million. The agreement is subject to regulatory approval.

Category: General