Prospect Ridge Completes Private Placement for Mineral Exploration

Prospect Ridge Resources Corp. has successfully closed its non-brokered private placement of critical mineral flow-through units, generating gross proceeds of $151,250.18 from the third tranche alone. This offering, initially announced in early October 2026, surpassed the original target, raising a total of $1,836,375 through the emission of 24,485,004 units.

The proceeds will be allocated to Canadian exploration expenses on Prospect Ridge's mineral projects in British Columbia. A significant portion will fund a 2,500-meter drill program on the Camelot project, with preparations underway for the expansive Spring drill program at the Excalibur project in B.C.

No insider participation occurred in the third tranche, and all issued securities are under a hold period until March 1, 2027. The issued finder warrants have identical terms to those in the offer, while the raised capital is expected to enhance Prospect Ridge's exploration initiatives in critical minerals and gold.