Prospect Ridge Announces Formation of Technical Advisory Committee and Granting of Share Purchase Options

Rhea-AI Summary

Prospect Ridge (CSE:PRR / OTCQB:PRRSF) announced the formation of a Technical Advisory Committee to support accelerated British Columbia exploration and named industry veterans including Henry Awmack, David Caulfield, Mark Baknes, Michael Michaud and John McVey.

The company also granted 1,200,000 incentive stock options to directors, officers, consultants and advisors at an exercise price of $0.15 per share exercisable for five years.

A recording of the October 16, 2025 town hall is now available on the company website and the company acknowledged the First Nations territories for its projects.

Recording of October 16 town hall now available on website

VANCOUVER, BC / ACCESS Newswire / October 22, 2025 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce the formation of a technical advisory committee to strengthen Prospect Ridge's geological, exploration and business acumen as the pace of the Company's British Columbia exploration efforts increase. The technical advisory committee includes Excalibur, Castle and Camelot vendors and co-founders of Equity Exploration Consultants Inc. Henry Awmack and David Caulfield and Mark Baknes, former Prospect Ridge Director and current Chief Executive Officer of Red Pine Exploration Inc. Michael Michaud and retired Chief Executive Officer of Procon Mining & Tunneling Ltd., John McVey. As noted in their biographies, each of these distinguished individuals have had a lengthy and successful career in exploration, development and mine building that will be invaluable to Prospect Ridge.

CEO Comment

Len Brownlie, President and CEO of Prospect Ridge commented: "Prospect Ridge is incredibly fortunate to be able to access the expertise of our new Technical Advisory Committee. The technical proficiency of property vendors Henry, David and Mark has always been a foundation of their work and their familiarity with these projects is to our great advantage. Michael brings a wealth of exploration and mine development experience and John was, until his recent retirement, CEO of one of the largest underground contract miners in Canada with a wealth of contacts, First Nations engagement and permitting knowledge. The collective interest of these committee members in assisting Prospect Ridge is a vote of confidence in our projects and our approach to exploration. We look forward to collaborating with the Advisory Committee as we progress our exploration efforts.

Technical Advisory Committee Biographies

Henry Awmack and David Caulfield

Henry Awmack and David Caulfield co-founded Equity Exploration Consultants in 1987. Equity is now one of Canada's top independent mineral exploration consultancies.

Henry co-managed Equity for 26 years and has extensive experience evaluating mineral properties and their exploration potential. He made the initial property examination of the Petaquilla copper-gold porphyry prospect (now the Cobre Panama mine) in Panama in 1992, discovered the Brazo satellite deposit and co-managed the early stage fieldwork and drilling of Petaquilla. Henry has run extensive mapping, fieldwork and drill programs in a variety of geological environments and assessed mineral properties throughout the world for their exploration potential with a special focus on economic porphyry deposits.

David Caulfield was co-founder of Rimfire Minerals Corporation and he played an integral role in building the company and it's business through its strategic partnerships. David was a director of Orogen Royalties Corp. David was also a co-founder, shareholder and Chairman of C3 Alliance Corp., a privately held consulting firm which facilitates mutually beneficial relationships between Indigenous Peoples and resource sector businesses. In an extensive volunteer capacity, David served as the 2005 President of the Association for Mineral Exploration of British Columbia (AME BC) and David played a role in the creation of Geoscience BC and served as a Director and Vice Chair until 2014.

Mark Baknes MSc., P.Geo.

Mark has over thirty-five years of hands-on exploration experience with major and junior explorers as well as consulting groups with much of his career focussed on porphyry deposits in the northern Cordillera and within the Golden Triangle. Mark was the former Vice-President of Exploration for Kiska Metals and was the winner of the H.H. "Spud" Huestis Award (2003 AME BC), honouring excellence in prospecting and mineral exploration, for his contributions to the discovery of the past producing Wolverine volcanogenic massive sulphide deposit.

John McVey, P. Eng.

John is an engineering and construction industry executive whose career spans more than 35 years in the mining, energy, and power industries in Canada as well as internationally. John was CEO of Procon Mining & Tunneling (2015-2024) and, upon retirement, now serves as an independent consultant in the energy and resources sector. Prior to Procon, John held executive and senior management positions with Bechtel, Bantrel, SNC-Lavalin and Kilborn Engineering. John has B.A.Sc. and M.A.Sc. degrees in Chemical Engineering from the University of Waterloo and is a licensed professional engineer in Ontario and Alberta. He has completed the Queen's Executive Development Program and the Institute of Corporate Directors, Directors Education Program, obtaining the ICD.D designation from the Institute.

Michael Michaud. P.Geo.

Michael is a Professional Geologist with over 30 years of experience in developing and implementing exploration strategies across North and South America, Africa, Asia, and Europe. Michael is currently the President of Red Pine Exploration and has previously served as Chief Geologist at Iamgold Corp., Vice-President of Exploration at St Andrew Goldfields and Wesdome Gold Mines, Principal at SRK Consulting Inc., and Chief Geologist at North American Palladium.

Stock Option Grants

Prospect Ridge has granted incentive stock options to purchase up to 1,200,000 common shares to certain directors, officers, consultants and advisors of the Company at an exercise price of $0.15 per share for a period of five years, in accordance with the provisions of its stock option plan.

Town Hall Video

Shareholders and interested parties who missed the Company's townhall on October 16, 2025 may now view a recording of the event on the Company website, www.prospectridgeresources.com

First Nations Land Acknowledgement

Prospect Ridge acknowledges the traditional territories on which its projects are situated:

Castle: Tahltan and Tsay Keh Dene First Nations.

Excalibur: Lake Babine First Nation.

Camelot: Williams Lake First Nation, Xatsull First Nation, Neskonlith Indian Band, North Shuswap Tribal Council and Whispering Pines/Clinton Indian Band.

Holy Grail and Knauss Creek: Gitxsan Hereditary Chiefs and Kitselas First Nation.

The Company is committed to building constructive, respectful and mutually beneficial relationships with First Nations based on trust, transparency and collaboration.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources Corp. is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is dedicated to advancing its portfolio of properties in the Golden Horseshoe and Cariboo regions of north-central British Columbia that have the potential to become the next large copper/gold porphyry discovery across this vastly under-explored region.

Contact Information

Prospect Ridge Resources Corp.
Mike Iverson - Chairman, Director
Email: mike@miverson.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements and information ("FLI") that may constitute forward-looking information within the meaning of applicable Canadian securities laws. FLI relates to future events or future performance and reflect the current expectations or beliefs of the Company's management. Anything that is not historical fact is FLI. Generally, FLI can be, without limitation, identified by the use of forward-looking wording such as "plans", "intends", "believes", "expects", "anticipates" or "estimates", and statements or phrases that certain actions, events or results "may", "might", "could", "should" or "would" occur, and similar expressions. FLI is not historical fact, is made as of the date of this news release and includes, without limitation, statements and discussions of future plans, intentions, expectations, estimates and forecasts, and statements as to management's intentions and expectations with respect to, among other things, positive exploration results at the Camelot, Holy Grail/Knauss Creek, Castle or Excalibur Projects. FLI involves numerous risks and uncertainties, and are based on assumptions, and actual results might differ materially from results suggested in any FLI. These risks and uncertainties include, among other things, the availability of financing to continue exploration activities, the availability and cost of qualified exploration personnel and service providers, and that future exploration results at the Camelot, Holy Grail/Knauss Creek, Castle or Excalibur Projects will not be as anticipated. In making any FLI in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the Camelot, Holy Grail/Knauss Creek, Castle or Excalibur Projects will be as anticipated. Although management has endeavored to evaluate and use reasonable assumptions and to identify important factors that could cause actual results to differ materially from those contained in FLI, these assumptions may prove incorrect and there may be other factors that cause results not to be as intended, expected, anticipated or estimated. There can be no assurance that FLI will prove to be accurate, and actual results and future events could differ materially from those expressed in FLI. Accordingly, readers should not place undue reliance on FLI, and are further cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any FLI expressed or incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

SOURCE: Prospect Ridge Resources Corp

View the original press release on ACCESS Newswire

FAQ

What did Prospect Ridge (PRRSF) announce on October 22, 2025 about a Technical Advisory Committee?

Prospect Ridge announced formation of a Technical Advisory Committee including Henry Awmack, David Caulfield, Mark Baknes, Michael Michaud and John McVey to support its BC exploration.

How many stock options did Prospect Ridge (PRRSF) grant on October 22, 2025 and at what price?

The company granted 1,200,000 incentive stock options at an exercise price of $0.15 per share, exercisable for five years.

Where can investors watch the Prospect Ridge town hall held October 16, 2025?

A recording of the October 16, 2025 town hall is available on Prospect Ridge's website at www.prospectridgeresources.com.

Which Prospect Ridge (PRRSF) projects are associated with First Nations acknowledgements?

The company acknowledged First Nations for Castle, Excalibur, Camelot, Holy Grail and Knauss Creek project areas as listed in the announcement.

What is the exercise period for the stock options granted by Prospect Ridge (PRRSF)?

The granted incentive stock options are exercisable for a period of five years from the grant date.