Pacific Ridge Exploration Ltd.
TSX VENTURE : PEX

Pacific Ridge Exploration Ltd.

August 24, 2009 18:18 ET

Pacific Ridge Exploration Ltd.: Flow-Through Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (the "Company") reports that, further to its news release of July 24, 2009, announcing a proposal to sell by way of non-brokered private placements up to 2,500,000 Flow-Through Shares to Canadian resident investors, the Company has amended the terms of the Flow-Though offering by adding one-half of a transferable non-flow-through share purchase warrant, each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.25 per share for 12 months.

The amendment, which is subject to regulatory approval, will be available for purchasers who have already subscribed to the Flow-Through offering.

John S. Brock, President

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. the securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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, exploration activities and events or developments that Pacific Ridge Exploration Ltd.(the "Company") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the Offering (including the anticipated closing date) and future exploration plans and expenditures. Although, the company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions, including among others, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals for the transactions described herein, the ability of the Company and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for the Company's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected on the forward-looking statements. the Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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