High Ridge Resources Inc.

High Ridge Resources Inc.

February 21, 2008 19:00 ET

High Ridge Resources Inc. Completes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2008) -


High Ridge Resources Inc. ("High Ridge") (TSX VENTURE:HRR) is pleased to announce completion of the first tranche of a private placement announced on December 24, 2007. The first tranche consisted of 2,769,000 units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of $830,700.

Each Unit consists of one common share in the capital of High Ridge and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one common share at $0.45 per share for 18 months. The securities are subject to a hold period which expires on June 13, 2008.

High Ridge paid a finders fee in connection with the financing consisting of $61,656 in cash and issued 156,000 finder's warrants which entitle the holder to purchase one common share at $0.30 per share for 18 months. High Ridge plans to use the net proceeds from the sale of the Units for general working capital purposes, and ongoing exploration on High Ridge Resources properties. The Company is proceeding with the offering of up to a further 7,231,000 units which must be completed by March 14, 2008.

About High Ridge Resources Inc.:

High Ridge is focused on large scale exploration projects. The company, with the addition of its gold and poly-metallic acquisition in Peru, also has three advanced exploration projects in British Columbia; the Chuchi property (Cu-Au porphyry) 30 km NW of Terrane's Mt. Milligan project; Newton Mountain (Au-Cu porphyry) 35 km N. of Taseko Mine's Prosperity (formerly Fish Lake) Au-Cu project; as well as the above mentioned Silver Bay (Ag, Pb, Zn, and Cu) project.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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