Prospect Ridge Resources Announces Private Placement Plan

Prospect Ridge Resources Corp., based in Vancouver, has announced a non-brokered private placement aimed at generating up to $3,000,000. This will involve issuing up to 25 million flow-through units priced at $0.12 each. Each unit consists of one flow-through common share and a half warrant. These warrants can be used to acquire additional shares at $0.18 within two years, subject to conditions.

The funds will advance the company's mineral exploration projects in British Columbia, particularly the 2,000-meter drill program on the Camelot project near Horsefly, B.C. Closing of the offering depends on securing necessary approvals. Issued securities will observe a hold period of four months plus one day.

The offering will not be registered under U.S. securities laws, hence cannot be sold in the U.S. The announcement does not constitute a sale offer or solicitation in unauthorized jurisdictions.