PEX Pacific Ridge Exploration Ltd

Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) ("Pacific Ridge" or the
"Company") has entered into an agreement to option out an interest in its Fyre
Lake copper, gold and cobalt massive sulphide deposit, located in Yukon's
Finlayson Lake District, to Merah Resources Limited ("Merah"). Merah (ASX:MEH)
is an Australian public company.


In accordance with the agreement, Merah can earn an initial 51% interest in the
Fyre Lake property by paying $650,000 and issuing shares with a value of
$650,000 to Pacific Ridge and completing a minimum of $3.5 million in
exploration over three years. Upon earning a 51% interest in the property, Merah
will then have the option to increase its interest to 70% by completing an
additional $3 million in exploration expenditures by January 10, 2018. Should
Merah earn a 70% interest in the property, Pacific Ridge will then have the
option of retaining a 30% participating joint venture interest or reducing to a
20% interest, carried to a positive feasibility study.


The Kona Deposit at Fyre Lake consists of six mineralized lenses within two
parallel northwesterly trending zones of copper- gold-cobalt volcanogenic
massive sulphide mineralization. Thicknesses of the lenses vary from eight to 40
metres over a length of 1,500 metres and a width of 250 metres. In 1996 and
1997, Pacific Ridge defined the Kona Deposit with 115 drill holes totaling over
23,200 metres of diamond drilling. The deposit remains open for extension along
its southeasterly trend at depth where both copper and gold grades appear to be
increasing.


The results of a NI 43-101 compliant mineral resource estimate of the Kona
Deposit completed in 2002 and reported in 2006 include an indicated mineral
resource of 3.571 million tonnes grading 1.57% copper, 0.10% cobalt and 0.61
grams gold per tonne at a 1 percent copper cut-off grade. An inferred mineral
resource, at the same cut-off grade, includes 5.361 million tonnes grading 1.48%
copper, 0.08% cobalt and 0.53 grams gold per tonne. These estimates were
prepared by D. Blanchflower, P.Geo. of Minorex Consulting Ltd. who is the
qualified person for this purpose. 


Merah's exploration plans will include infill and extensional drilling with the
objective of increasing the size of the Kona resource. Merah also plans to test
additional priority drill targets within the Fyre Lake Property that hold
potential for discovery of additionall copper-gold massive sulphide
mineralization. 


About Pacific Ridge

Pacific Ridge is a mineral exploration company. In addition to Fyre Lake, it
holds a well-located project portfolio in the Yukon's White Gold District, in
the same geological environment as Kinross Gold's White Gold deposit, Kaminak
Gold's Coffee gold deposits and Comstock Metals' QV gold discovery. The King
Solomon property consists of 372 claims under option from Shawn Ryan and
Wildwood Exploration Inc. and adjacent claims under option from 39242 Yukon Inc.
The property covers 7,500 ha in the heart of the historic Klondike Gold District
and hosts one of the largest and strongest gold soil anomalies in the Klondike
that has not yet been explored either by trenching or drilling. The main target
of interest is the King Zone, a 1,600 m long gold soil geochemical anomaly that
lies near the summit of King Solomon Dome. In addition, the 280 square kilometer
Mariposa gold project covers the prolific Scroggie and Mariposa placer gold
creeks located east of the Kaminak Coffee Creek deposits. Mariposa has seen a $6
million program of soil sampling, trenching and drilling spent over the past
three years resulting in discovery of a number of well mineralized gold zones.
In addition the 49 km2 Gold Cap/Polar-Stewart property, with yet-to-be drilled
gold soil anomalies, adjoins the Kinross White Gold deposit.


On behalf of the Board of Directors,

Gerald G. Carlson, President & 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.


The technical information contained within this News Release has been reviewed
and approved by Gerald G. Carlson, Ph.D., P.Eng., President and CEO of Pacific
Ridge Exploration, and Qualified Person as defined by National Instrument 43-101
policy.


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 and other
activities and events or developments that Pacific Ridge Exploration Ltd.
("Pacific Ridge") expects to occur, are forward-looking statements.
Forward-looking statements in this news release include statements regarding the
placements and future exploration plans and expenditures. 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
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices,
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 other things, assumptions regarding
general business and economic conditions, the timing and receipt of regulatory
and governmental approvals for the transactions described herein, the ability of
Pacific Ridge and other parties to satisfy stock exchange and other regulatory
requirements in a timely manner, the availability of financing for Pacific
Ridge'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 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, except as required by
applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
(604) 484-7104


Pacific Ridge Exploration Ltd.
John S. Brock
Chairman
(604) 687-4951
www.pacificridgeexploration.com

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