Pacific Ridge Exploration Ltd.
TSX VENTURE : PEX

Pacific Ridge Exploration Ltd.

August 23, 2011 09:55 ET

Pacific Ridge Reports Full Exercise of August 20th Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2011) - Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (the "Company") reported that the Company has received $914,995 for the exercise of 6,099,967 share purchase warrants with an exercise price of $0.15 and an expiry date of August 20, 2011. The Company has also seen exercise of 20,000 warrants with an exercise price of $0.25 for receipt of proceeds in the amount of $5,000. There are 480,000 $0.25 warrants with an expiry date of September 16, 2011 that remain to be exercised. The Company has also seen exercise of 67,200 warrants with an exercise price of $0.45 for receipt of proceeds in the amount of $30,240. There are 3,878,150 $0.45 warrants with an expiry date of December 22, 2011 that remain to be exercised. The Company now has 58,892,078 common shares issued and outstanding.

John S. Brock, President and CEO

Pacific Ridge Exploration Ltd.

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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