High Ridge Resources Inc.

High Ridge Resources Inc.

March 17, 2008 20:00 ET

High Ridge Resources Inc. Completes Second Tranche and Extends Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2008) -


High Ridge Resources Inc. ("High Ridge") (TSX VENTURE:HRR) is pleased to announce completion of the second tranche of a private placement originally announced on December 24, 2007. The second tranche consisted of 3,807,000 units ("Units") at a price of $0.30 per Unit for aggregate gross proceeds of $1,142,100.

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 July 14, 2008. High Ridge paid finders fees in connection with the financing consisting of $87,768 in cash and issued 127,000 finder's warrants which entitle the holder to purchase one common share at $0.45 per share for 18 months.

High Ridge also announced that the private placement has been extended for up to a further 3 weeks and that it will continue to offer up to a further 4,000,000 Units on the same terms. High Ridge may pay finders fees equal to 8% of the gross proceeds raised in connection with the private placement and issue finders warrants equal to 10% of the number of Units sold. The securities to be issued under the private placement shall be subject to a four month hold period, and the private placement is subject to the acceptance of the TSX Venture Exchange.

High Ridge plans to use the net proceeds to be received from the private placement for general working capital purposes, and ongoing exploration on High Ridge Resources properties.

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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