Pacific Ridge Exploration Ltd.
TSX VENTURE : PEX

Pacific Ridge Exploration Ltd.

November 29, 2007 09:00 ET

Pacific Ridge Expands Lucky-7 Uranium Zone at the Baker Basin Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Pacific Ridge Exploration Ltd. ("Pacific Ridge") (TSX VENTURE:PEX) has received additional uranium assays from both the Lucky-7 Zone and KZ Zone drilling programs with values reaching 0.35% U3O8 over 10 metres. The Lucky-7 Zone drilling indicates opportunity for strike and depth continuity of uranium mineralization, with an accelerated resource definition drilling campaign warranted in 2008.

LUCKY-7 ZONE

The Lucky-7 Zone is the most advanced of 8 uranium zones on Pacific Ridge's Baker Basin uranium project, with 10 holes now completed and attractive uranium values drill intersected. The following tables summarize both recently received assay values for holes L7-07-09 and L7-07-10 as well as previously announced drill hole results.



LUCKY-7 ZONE
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Assay
Interval Intercept ------------------
Hole Section Zone (m) (m)(i) % U3O8 lbs U3O8/t
---------------------------------------------------------------------------

L7-07-09 8100N West 231.0-235.0 4.0 0.22 4.4
East 168.9-170.7 1.8 0.28 5.6

L7-07-10 8100N West 238.5-248.5 10.0 0.35 7.0
West 258.0-261.6 3.6 0.10 2.0
East 199.0-202.0 3.0 0.33 6.6


LUCKY-7 ZONE DRILL HOLE ASSAYS (Previously Released)
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Assay
Interval Intercept ------------------
Hole Section Zone (m) (m)(i) % U3O8 lbs U3O8/t
---------------------------------------------------------------------------

L7-06-01 8200N East 51.4-53.0 1.6 0.14 2.8

L7-06-02 8200N East 74.1-77.5 3.4 0.32 6.4
incl. 74.5-76.0 1.5 0.68 13.6

L7-06-03 8200N Did not reach target

L7-07-04 8200N East 167.0-176.0 9.0 0.11 2.2
incl. 167.0-170.0 3.0 0.15 3.0

L7-07-05 8200N East 231.3-234.0 2.7 0.24 4.8


LUCKY-7 ZONE DRILL HOLE ASSAYS (Previously Released)
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Assay
Interval Intercept ------------------
Hole Section Zone (m) (m)(i) % U3O8 lbs U3O8/t
---------------------------------------------------------------------------

L7-07-06 8200N East 278.5-293.8 15.3 0.20 4.0
incl. 292.9-293.8 0.9 2.74 54.8

L7-07-07 8200N West 557.0-560.0 3.0 0.14 2.8
West 603.4-605.5 2.1 0.21 4.2
East 309.0-312.0 3.0 0.07 1.4
East 95.3-296.8 1.5 0.12 1.5

L7-07-08 8150N West 232.2-249.5 17.3 0.30 6.0
incl. 234.4-243.4 9.0 0.51 10.2
East 149.8-150.8 1.0 0.33 6.6

(i) True widths are estimated at between 50% and 70% of drill intercepts


Uranium mineralization at the Lucky-7 Zone is associated with fracturing and clay alteration of the Baker Basin Kazan sandstone within a northerly trending structural corridor emplaced with a mafic dyke. Uranium mineralization occurs as two sub-parallel sub-vertical zones located along both the east and west contacts of the dyke. To date, thicker sections of the dyke appear to be associated with thicker zones of uranium mineralization. Uranium mineralization has now been drill-defined from surface to a depth of approximately 500 metres. Drilling to date has been collared on 3 sections (8100N, 8150N and 8200N) over a zone length of 100 metres. The Lucky-7 Zone has been defined on surface by radiometric surveys and frost heaved blocks of uranium mineralization over a length of 500 metres.

KZ ZONE

The KZ Zone, located approximately 10 kilometres west of the Lucky-7 Zone saw two drill holes this year that tested for depth continuity of uranium mineralization. The following summary tables of drill hole results include the two 2007 holes and previously announced 2006 drill holes.



KZ ZONE DRILL HOLE RESULTS
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Assay
Interval Intercept -------------------
Hole Section (m) (m)(i) % U3O8 lbs U3O8/t
---------------------------------------------------------------------------

KZ 07-07 9065 200.3-201.3 1.0 0.18 3.6

KZ 07-08 9065 405.2-407.2 2.0 0.26 5.2


KZ ZONE DRILL HOLE ASSAYS (Previously Released)
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Assay
Interval Intercept -------------------
Hole Section (m) (m)(i) % U3O8 lbs U3O8/t
--------------------------------------------------------------------------

(i)KZ 06-01 9065 N 36.0-41.8 5.8 0.27 5.4

(i)KZ 06-02 9065 N 79.5-91.0 11.5 0.31 6.2
Includes 85.5-91.0 5.5 0.56 11.2
95.5-97.5 2.0 0.23 4.6

(i)KZ 06-03 2750 E No significant intersections, drilled away
from target


KZ ZONE DRILL HOLE ASSAYS (Previously Released)
--------------------------------------------------------------------------
Assay
Interval Intercept -------------------
Hole Section (m) (m)(i) % U3O8 lbs U3O8/t
--------------------------------------------------------------------------

(i)KZ 06-04 9065 N 123.0-128.2 5.2 0.40 8.0
Includes 123.0-125.0 2.0 0.90 18.0

KZ 06-05 9120 N 125.5-126.3 0.8 0.14 2.8

KZ 06-06 9065 N 89.1-89.8 0.7 0.12 2.4
and 131.0-133.5 2.5 0.11 2.2
and 303.0-304.0 1.0 0.16 3.2

(i) True widths are estimated at between 50% and 70% of total drill
intervals, with the exception of holes 06-05 and 06-06 which were
drilled at a steeper angle.


The KZ Zone is similar to the Lucky-7 Zone in that uranium mineralization is associated with altered Kazan sandstone within a sub-vertical structure also emplaced with a mafic dyke. Pacific Ridge drilling has defined vertical continuity of uranium mineralization from surface to a depth of approximately 400 metres. Surface radiometric surveys by Pacific Ridge along with shallow drilling by prior workers have defined an approximate target length of 500 metres for the KZ Zone. Drill hole assays received to date suggest the best uranium grades occur between depths of 50 to 200 metres. Continued drill testing along the length of the zone is warranted.

2007 PROGRAM

The 2007 drilling program is now completed with encouraging uranium assays intersected in the Lucky-7 and KZ Zones. Both zones warrant an expanded sectional drilling program in 2008 to provide the data base for resource estimates.

BAKER BASIN PROJECT

The Baker Lake basin, although smaller in aerial extent than the neighboring Thelon and Athabasca basins, is now being recognized as having potential for hosting structurally controlled uranium prospects. The project is 50 kilometres south of the community of Baker Lake, Nunavut.

SAMPLE HANDLING

All samples collected at the Baker Basin Uranium Project are sealed in sample bags at site and forwarded in secure containers to Activation Laboratories in Ancaster, Ontario for uranium analysis. Samples are initially analyzed by a DNC technique utilizing a reactor. High values in excess of 0.5% U3O8 are then re-analyzed by SRF and titration methods. Pacific Ridge employs a QC/QA program that includes random insertion of internal duplicates and blanks into the sample stream as well as check assays by an external laboratory.

Pacific Ridge's disclosure of a technical or scientific nature has been reviewed by Wayne J. Roberts, P.Geo., Vice-President, Exploration of Pacific Ridge and a Qualified Person under the definition of National Instrument 43-101.

AGREEMENTS

In an amended agreement announced on October 1, 2007, Pacific Ridge has been granted an option to earn a 100% interest in the Baker Basin project subject to a 20 percent back-in right to Kaminak Gold Corporation at completion of a positive feasibility study. The agreement pertains to all commodities except diamonds. Underlying interests are held by Hunter Exploration Group as to a 2% net smelter return interest, as well as Shear Minerals/Stornoway Diamond Corporation, who collectively hold an 8.5% net profits interest.

John S. Brock, President

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Such statements may be identified in this release by the use of words such as "will" and "expects" and "may" as well as the use of the future or conditional tense. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Information Concerning Estimates of Mineral Resources

This news release uses the terms "inferred resources", "indicated resources", "mineral resources" and "resources". Pacific Ridge Exploration Ltd. (the "Company") advises investors that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "inferred resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

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

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