Prospect Ridge Detects Copper Mineralization in Four of First Six Diamond Drill Holes At 100% Owned Camelot Copper-Gold Project in B.C.'S Cariboo Mining District

Rhea-AI Summary

Prospect Ridge (OTCQB:PRRSF) reported visual and portable XRF observations from the first six holes (1,065 m) of a planned ~2,000 m, 10-hole diamond program at the 100% owned Camelot copper-gold project in B.C.'s Cariboo district on December 4, 2025.

Key findings: chalcopyrite and disseminated pyrite identified in four of six holes (CAM25-001, -002, -005, -006), with copper detected by pXRF over ~75–120 m intervals in those holes. Samples from CAM25-001 and CAM25-006 were sent for rush assays expected in late December. True widths are unknown; pXRF results are qualitative pending laboratory assays.

Positive

• Chalcopyrite detected in 4 of 6 initial holes
• Copper detected by pXRF over 75–120 m intervals
• Completed 1,065 m of drilling across six holes
• Rush assay samples submitted for CAM25-001 and CAM25-006

Negative

• pXRF data are qualitative; not a substitute for assays
• True widths of mineralization are unknown
• Two holes (CAM25-003, CAM25-004) lacked pXRF analysis at time of release
• Several holes stopped near ~200 m despite mineralization

News Market Reaction

+11.82%

1 alert

+11.82% News Effect

On the day this news was published, PRRSF gained 11.82%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Planned drill program: ~2,000 m Metres drilled to date: 1,065 m Mineralized holes: 4 of 6 holes +5 more

8 metrics

Planned drill program ~2,000 m Ten-hole diamond drill program at Camelot project

Metres drilled to date 1,065 m First six holes CAM25-001 to CAM25-006

Mineralized holes 4 of 6 holes Chalcopyrite and pyrite identified visually and by pXRF

Mineralized interval length ~75–120 m Copper detected by portable XRF in four holes

Trend length 1.7 km Geochemical and geophysical trend at Camelot

Tested portion of trend 650 m Southwestern segment drilled in current program

Typical hole depth ≈200 m Holes CAM25-001, -002, -006 stopped near 200 m

Chargeability threshold >27 mV/V High chargeability targets prioritized in revised drill plan

Market Reality Check

Price: $0.0830 Vol: Volume 25,083 is below th...

normal vol

$0.0830 Last Close

Volume Volume 25,083 is below the 20-day average of 33,475 ahead of this update. normal

Technical Shares at 0.0477 are trading below the 200-day MA of 0.06, indicating a weak longer-term trend.

Peers on Argus

Peers in Other Industrial Metals & Mining showed mixed moves, with names ranging...

Peers in Other Industrial Metals & Mining showed mixed moves, with names ranging from about -25% to modest gains while PRRSF fell 4.19%, pointing to stock-specific trading rather than a broad sector move.

Historical Context

5 past events · Latest: Dec 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 05	Private placement closing	Neutral	-0.9%	Final tranche closing of C$0.12 flow-through private placement for exploration.
Dec 04	Exploration update	Positive	+11.8%	First six Camelot drill holes show chalcopyrite and pyrite in four holes.
Nov 13	Private placement tranche	Neutral	+0.0%	Second tranche of $0.12 flow-through units to fund Canadian exploration.
Oct 30	Drill program launch	Positive	+8.0%	Announcement of 2,000 m diamond drill program at Camelot copper-gold project.
Oct 17	Private placement announced	Negative	-15.4%	Non-brokered private placement of up to $3,000,000 in flow-through units.

Pattern Detected

Positive Camelot exploration news has coincided with double-digit gains, while initial private placement announcement saw a sharp selloff and later tranches had muted impact.

Recent Company History

Over the past months, Prospect Ridge advanced its 100% owned Camelot copper-gold project with a planned 2,000 metre diamond drill program announced on Oct 30, 2025, which saw a 7.96% move. The current article on visual and pXRF-confirmed copper mineralization in four of six early holes on Dec 4, 2025 coincided with a 11.82% gain. Funding came via a non-brokered private placement of up to $3,000,000 on Oct 17, 2025 and subsequent tranches, which produced mixed to negative price reactions.

Market Pulse Summary

The stock surged +11.8% in the session following this news. A strong positive reaction aligns with p...

Analysis

The stock surged +11.8% in the session following this news. A strong positive reaction aligns with prior Camelot-related catalysts, where the drill program launch on Oct 30, 2025 and this mineralization update on Dec 4, 2025 each coincided with notable gains. The confirmation of chalcopyrite and disseminated pyrite in four of six early holes over ~75–120 m intervals reinforced market interest. However, earlier financing news, including the up to $3,000,000 private placement, showed that funding events have produced volatility and could temper follow-through.

Key Terms

diamond drill, alkalic porphyry, portable X-ray fluorescence, pXRF, +3 more

7 terms

diamond drill technical

"the first six holes of a ten hole (~2,000 m) diamond drill program"

A diamond drill is a method of cutting a cylindrical sample from rock using a rotating bit studded with industrial diamonds; it extracts intact, tube-shaped rock pieces that reveal the layers and mineral content below the surface. For investors, diamond drilling is how geologists gather the hard evidence needed to estimate how much valuable material may be present—think of it as taking a biopsy of the earth that helps decide whether a deposit is worth developing.

alkalic porphyry medical

"following an alkalic porphyry exploration model where coincident chargeability"

An alkalic porphyry is a type of underground rock body formed when mineral-rich molten rock cools and crystallizes, creating a large, often porous mass that commonly concentrates metals such as copper, gold and sometimes molybdenum. For investors, these deposits matter because they can host large, high-value ore bodies; thinking of the rock like a cookie with concentrated metal “chips” helps explain why finding one can underpin a long-lived, potentially profitable mine.

portable X-ray fluorescence technical

"Semi-quantitative real-time elemental analysis of drill core with a portable X-ray fluorescence spectrometer"

A portable X‑ray fluorescence (portable XRF) device is a handheld instrument that shines X‑rays at a sample and reads the characteristic rays that bounce back to identify what elements (like gold, lead, or zinc) are present and in what approximate amounts. It matters to investors because it provides fast, non‑destructive, on‑site checks of metal content and contamination—like a fingerprint scanner for materials—helping cut exploration, quality-control and environmental testing time and cost.

pXRF technical

"The pXRF provides reliable copper identification, in this case taken as spot samples"

pxrf (portable X‑ray fluorescence) is a handheld instrument that quickly identifies and estimates the elemental makeup of rocks, soil, and other samples by reading X‑ray signals, similar to how a metal detector spots targets without digging. For investors, pxrf results offer fast, on‑site clues about the presence and relative concentration of valuable metals, speeding exploration decisions and early screening while not replacing full laboratory assays used for definitive reserves and valuation.

chalcopyrite medical

"with the discovery of chalcopyrite in four of the first six holes"

Chalcopyrite is a common copper-bearing mineral (a copper-iron sulfide) that often looks brassy yellow and is the main source of mined copper worldwide. For investors, its presence and abundance in a rock deposit determine how much recoverable copper a mine can produce and how profitable extraction will be — think of chalcopyrite as the concentrated ingredient that makes an ore body valuable and worth developing.

chargeability technical

"coincident with chargeability highs and moderate magnetic highs"

Chargeability is the extent to which a cost, expense or staff time can be assigned and billed to a specific project, customer or account. For investors, higher chargeability usually means more revenue and clearer paths to recover costs, which improves profitability and cash flow; low chargeability can signal idle capacity or costs that must be absorbed by the company. Think of it as the percentage of work time you can put on an invoice versus time you must cover yourself.

fire assay technical

"Accurate copper and gold values will be determined by wet geochemical and fire assay methods"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

AI-generated analysis. Not financial advice.

VANCOUVER, BC / ACCESS Newswire / December 4, 2025 / Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE:PRR)(OTCQB:PRRSF)(FRA:OED) is pleased to announce visual observations and portable XRF results from the first six holes of a ten hole (~2,000 m) diamond drill program at the Company's 100% owned Camelot copper-gold project in British Columbia's prolific Cariboo Mining District (Figure 1).

Drilling began October 31, with this news release summarizing results from six holes completed from five drill sites along the southwestern 650 m portion of a 1.7 km long geochemical and geophysical trend (Figure 2). Drilling targeted historical copper-in-soil anomalies coincident with chargeability highs and moderate magnetic highs, following an alkalic porphyry exploration model where coincident chargeability and magnetic anomalism could indicate pyrite-chalcopyrite mineralization in association with magnetite-bearing potassic alteration. The target area is covered by till and has never been drill tested (Figure 3).

Drilling Highlights

• Results described for 1,065 m drilled in six holes (CAM25-001 to 006) over the first 11 drilling days of the work program.

• Semi-quantitative real-time elemental analysis of drill core with a portable X-ray fluorescence spectrometer (pXRF), coupled with visual observations, confirm presence of disseminated pyrite and chalcopyrite over 75 to 120 m of drill core in four of the six holes reported here (CAM25-001, -002, 005, and -006)

• Mineralized intervals are associated with overprinting alteration and vein assemblages, particularly holes CAM25-001, 002, and 006. These intervals exhibit multiple episodes of moderate to strong porphyry-style alteration and veining, which includes strong K-feldspar, albite, and epidote alteration.

• Hole CAM25-003 showed weak to moderate porphyry-style alteration, dominantly quartz veins with lesser K-feldspar veins, and pyrite with lesser chalcopyrite mineralization; all generally increasing in intensity with depth.

• To test as many targets as possible, holes CAM25-001, -002, and -006 were stopped at about 200 m, despite the presence of pyrite and chalcopyrite at the bottom of the holes. Drill core samples from holes CAM25-001 and CAM25-006 has been sent for "rush" assay.

• Visual and pXRF results from the first six holes informed a re-evaluation of targets, resulting in modifications to the final four holes (CAM25-007 to CAM25-010) to incorporate real-time improvements in understanding prospective features.

Len Brownlie, Ph.D., CEO of Prospect Ridgenoted "The inaugural Camelot drill program has exceeded our expectations with the discovery of chalcopyrite in four of the first six holes. I would like to thank Equity Exploration Consultants Ltd., and Dorado Drilling for their quick and efficient execution of this drill program. On November 13 and 15, Equity Exploration geologists, members of the Board and our Technical Advisory Committee had the opportunity to observe the first six holes of Camelot drill core and compare it to core from a nearby mine, which has enhanced our ability to identify the complex lithologies of the intrusive rocks present in the Camelot drill core and advanced our understanding of the association between the various intrusive bodies and their geophysical signatures. This knowledge has allowed us to modify the drill plan on the fly, targeting predominantly high chargeability targets (>27mV/V) as we see a greater correlation between moderate-high chargeability and disseminated pyrite and chalcopyrite in the drill core. We anxiously await gold and copper assay results to confirm our hypothesis that Camelot contains a significant alkalic porphyry deposit."

Figure 1: Map showing location of the Camelot property relative to nearby mines and deposits*

*Sources for Figure 1:

1. Mt. Polley: https://www.imperialmetals.com/assets/docs/mp-technical-report-may-20-2016.pdf

2. QR: https://osiskogr.com/en/osisko-gold-royalties-announces-spin-out-of-mining-assets-and-creation-of-a-premier-north-american-gold- development-company/

3. Woodjam: https://www.vizslacopper.com/projects/woodjam-project/overview/

Figure 2: Map showing location of drill hole collars on the Camelot property.

Figure 3: Property geology, soil geochemistry, and IP data compilation over airborne TMI (total magnetic intensity) map (after Baknes, 2023ⁱ).

Portable XRF

A portable XRF analyzer has been used to aid in the identification of very fine grained and disseminated chalcopyrite in rocks where strong alteration makes identification difficult. The pXRF provides reliable copper identification, in this case taken as spot samples from a ~0.5 cm² area of drill core at 1 m intervals.

Despite their reliability, pXRF analyses of drill core are less representative than wet-chemical assays - as they represent such a small quantity of rock - and in this particular case should be regarded as a qualitative screening tool that complements visual core logging.

Portable XRF analyses have detected the presence of copper over core lengths of ~75 to 120 m in four of the six holes described here; the other two (CAM25-003, CAM25-004) were not yet analyzed by pXRF. Copper measurements are shown as histograms in cross-sections for holes CAM25-001, CAM25-002, and CAM25-006 (see Drill Hole Cross-Sections) and demonstrate continuity and variance in copper grades that are consistent with visual logging (see below).

Accurate copper and gold values will be determined by wet geochemical and fire assay methods, respectively. Samples from holes CAM25-001 and CAM25-006 were submitted to the lab on a "rush" basis so that assays are expected in late December. True widths of mineralization are unknown at this time.

Visual Observations in Drill Core

Photos of selected core intervals from holes CAM25-001 and CAM25-006 are shown below in Figures 4 and 5. Drill hole locations are provided in Table 1. These photos illustrate the typical intrusive rock units associated with the presence of pyrite (py) and chalcopyrite (cpy) seen in altered sections of the drill core.

The CAM25-001 and CAM25-002 targets were drilled from the same pad. Both holes tested a coincident chargeability high and an inverted magnetic apophysis-like structure (Figure 6); CAM25-002 focused on the magnetic anomaly. Both holes returned significant intervals of fine-grained disseminated pyrite and lesser chalcopyrite hosted in moderate to strong potassic-altered monzonite and intermediate to mafic volcanic rocks.

Figure 4: Photos of chalcopyrite mineralization and alteration within drill core from drill hole CAM25-001 at drilled depths of (top) 137 m and (bottom) 150 m from the top of hole.

CAM25-003 and CAM25-004 targeted closely associated moderate chargeability and magnetic features at depth of 90 to 150 m below the surface. CAM25-003 intersected mostly highly magnetic gabbro with weak pyrite mineralization and trace disseminated chalcopyrite. CAM25-004 was quick-logged as the same gabbro with full logging paused until efforts on other targets had been concluded.

CAM25-005 and CAM25-006 tested a large high chargeability anomaly with isolated inverted magnetic pipe like features at depth (Figure 7). Drill hole CAM25-005 intersected mostly weak to moderately pyrite-mineralized diorite with trace to weak disseminated chalcopyrite, and elevated (2-5%) quartz and quartz-carbonate veinlets.

Drill hole CAM25-006 intersected variably K-feldspar altered andesite, diorite, and monzodiorite, hosting minor amounts of fine disseminated pyrite and 1-4% pyrite veinlets, as well as weak to trace very fine grain chalcopyrite from 140 m depth to the end of hole.

Figure 5: Photos of (top) alteration and (bottom) chalcopyrite mineralization and alteration within drill core from drill hole CAM25-006 at drilled depths of 143 m and 150 m respectively.

Drill Hole Cross-Sections

Cross sections for holes CAM25-001, -002, and -006 are shown in Figures 6 and 7. Readers are cautioned that copper (Cu) values shown in the figures are based on single pXRF measurements every 1-meter length of core. These values should be interpreted as a qualitative indicator of the continuity and variance in copper mineralization but do not provide an accurate quantitative measurement of the copper concentration in the core.

Figure 6: 100 m wide cross section, looking West and over mV/V chargeability model: CAM25-001 (right) and CAM25-002 (left), lithology plotted on the right, and ppm copper measured by pXRF on the left.

Figure 7: 100 m wide cross section looking North over mV/V chargeability model: CAM25-006, lithology plotted on the right and ppm copper measured by pXRF on the left.

About the Camelot Property

The 2,646-hectare Camelot property lies approximately 65 km east of Williams Lake, B.C. within the Quesnel Terrane - home to multiple producing copper-gold and copper-molybdenum porphyry deposits, including the nearby Gibraltar and Mount Polley mines (Figure 1). Camelot is located 34 km southeast of Imperial Metal's Mount Polley and 13 km northeast of Vizsla Copper's Woodjam project.

The project area benefits from year-round road access and excellent regional infrastructure. Previous exploration work^ii,iii has outlined a 1700 m x 500 m coincident chargeability-magnetic anomaly trending northeast-southwest beneath shallow till cover in an area that has not been previously drilled (Figure 3).

The property is centered on the Lemon Lake stock, a Late Triassic to Early Jurassic multi-phase pluton hosted in volcanic units of the Quesnel Terrane. The approximately 5 km wide pluton was formed by early phases of gabbro cut by younger monzonite, breccias, and late-stage syenitic dikes. Moderate K-feldspar and biotite alteration, as well as local pyrite-chalcopyrite mineralization, are primarily associated with monzonite intrusions. Zones of sericite-pyrite (or phyllic) alteration appear to be rare, consistent with the interpreted alkalic porphyry model assumed for the system.

Drill Hole Locations

The drill program is being conducted from drill pads constructed next to logging roads and fire breaks, with minimal surface disturbance. See Table 1 below for a summary of drill hole orientation and location.

Table 1: Drill hole collar locations and drill hole orientations for the first six drill holes of the 2025 diamond drilling campaign. All coordinates are in UTM NAD83 Zone 10.

Hole ID	Easting	Northing	Collar Elevation (m)	Azimuth (°)	Dip (°)	Total Depth (m)
CAM25-001	616,607	5,801,369	879	340	-60	201
CAM25-002	616,607	5,801,369	879	160	-55	201
CAM25-003	616,303	5,800,855	875	290	-50	201
CAM25-004	616,588	5,800,504	869	175	-55	102
CAM25-005	617,385	5,801,864	960	175	-50	201
CAM25-006	617,259	5,801,894	925	110	-60	201

Land Acknowledgement

Prospect Ridge acknowledges that Camelot is situated within the traditional territories of the Williams Lake Indian Band, Xatsull First Nation, Whispering Pines/Clinton Indian Band, Northern Shuswap Tribal Council, and the Neskonlith Indian Band. The Company is committed to building positive, transparent, and mutually beneficial relationships with Indigenous communities founded on trust, respect, and open communication.

QA/QC (Quality Assurance/Quality Control)

Prospect Ridge's 2025 exploration program is managed by Equity Exploration Consultants Ltd. of Vancouver, B.C. The drill contractor is Dorado Drilling Ltd. of Vernon, B.C.

Core logging was done under the onsite supervision of professional geoscientists registered with EGBC and employed by Equity, a registered firm with EGBC.

Portable XRF analyses were done with an Olympus VANATA on spot samples every 1 m down the drill string. Spots were placed on representative pieces of core to avoid a selection bias of higher-grade samples. Occasional measurements of certified reference materials used for wet chemistry showed that pXRF analyses are precise. Results were exported directly from the pXRF machine into 3D modelling software.

Qualified Person Statement

All technical information that forms the basis for the written disclosure in this press release, has been approved by Ron Voordouw, Ph.D., P.Geo., Director of Geoscience for Equity Exploration Consultants Ltd., who is an independent consultant to the Company, and a qualified person as defined under the terms of National Instrument 43-101.

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 seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its north-central B.C. located Golden Horseshoe and Cariboo projects - high-potential copper-gold systems positioned within one of Canada's most under-explored yet geologically endowed mineral belts.

Contact Information

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

Sources of Technical Information

(i). Baknes, M. J. 2023. Drilling Report on the Lemon Lake Project. B.C. Mines Branch Assessment Report Event No.5993800

(ii). Britton, R., 2021 2021 Geological - hand trenching, airborne Magnetic - VLF survey and petrological reports on the Lemon Lake property B.C. Mines Branch Assessment Report 39604

(iii). Bailey, D. 2012 Lemon Lake property Horsefly Induced Polarization and Magnetometer Survey B.C. Mines Branch Assessment Report 33088.

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 project. 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 project 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 project 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 announce about Camelot drilling on December 4, 2025 (PRRSF)?

Prospect Ridge reported visual and pXRF detection of chalcopyrite and disseminated pyrite in 4 of the first 6 holes (1,065 m) at Camelot.

How long were copper-bearing intervals reported by pXRF in PRRSF drill holes?

Portable XRF detected copper over approximate core lengths of 75–120 m in four reported holes.

When will Prospect Ridge (PRRSF) lab assays be available for Camelot holes?

Samples from CAM25-001 and CAM25-006 were submitted on a rush basis with assays expected in late December 2025.

How reliable are the copper results reported by PRRSF at Camelot?

Reported copper values are qualitative pXRF spot measurements; wet geochemical assays will provide accurate concentrations.

Which Camelot holes returned chalcopyrite and pyrite in Prospect Ridge's update (PRRSF)?

Chalcopyrite and disseminated pyrite were reported in holes CAM25-001, CAM25-002, CAM25-005, and CAM25-006.

Did Prospect Ridge change its drilling plan at Camelot after initial results (PRRSF)?

Yes; visual and pXRF results informed modifications to the final four holes (CAM25-007 to CAM25-010) to better target higher chargeability zones.