Prospect Ridge finds copper at Camelot drill

Dec 5, 2025

2025-12-04 18:34 ET – News Release

Mr. Mike Iverson reports

PROSPECT RIDGE DETECTS COPPER MINERALIZATION IN FOUR OF FIRST SIX DIAMOND DRILL HOLES AT 100 PER CENT OWNED CAMELOT COPPER-GOLD PROJECT IN B.C.’S CARIBOO MINING DISTRICT

Prospect Ridge Resources Corp. has discussed visual observations and portable XRF results from the first six holes of a 10-hole (approximately 2,000-metre) diamond drill program at the company’s 100-per-cent-owned Camelot copper-gold project in British Columbia’s prolific Cariboo mining district.

Drilling began Oct. 31, with this news release summarizing results from six holes completed from five drill sites along the southwestern 650 m portion of a 1.7-kilometre-long geochemical and geophysical trend. Drilling targeted historical copper-in-soil anomalies coincident with chargeability highs and moderate magnetic highs, following an alkalic porphyry exploration model where coincident chargeability and magnetic anomalism could indicate pyrite-chalcopyrite mineralization in association with magnetite-bearing potassic alteration. The target area is covered by till and has never been drill tested.

Drilling highlights

Results described for 1,065 m drilled in six holes (CAM25-001 to 006) over the first 11 drilling days of the work program.
Semi-quantitative real-time elemental analysis of drill core with a portable X-ray fluorescence spectrometer (pXRF), coupled with visual observations, confirm presence of disseminated pyrite and chalcopyrite over 75 to 120 m of drill core in four of the six holes reported (CAM25-001, -002, 005 and -006).
Mineralized intervals are associated with overprinting alteration and vein assemblages, particularly holes CAM25-001, 002 and 006. These intervals exhibit multiple episodes of moderate to strong porphyry-style alteration and veining, which includes strong K-feldspar, albite and epidote alteration.
Hole CAM25-003 showed weak to moderate porphyry-style alteration, dominantly quartz veins with lesser K-feldspar veins and pyrite with lesser chalcopyrite mineralization; all generally increasing in intensity with depth.
To test as many targets as possible, holes CAM25-001, -002 and -006 were stopped at about 200 m, despite the presence of pyrite and chalcopyrite at the bottom of the holes. Drill core samples from holes CAM25-001 and CAM25-006 has been sent for rush assay.
Visual and pXRF results from the first six holes informed a re-evaluation of targets, resulting in modifications to the final four holes (CAM25-007 to CAM25-010) to incorporate real-time improvements in understanding prospective features.

Len Brownlie, PhD, chief executive officer of Prospect Ridge, noted: “The inaugural Camelot drill program has exceeded our expectations with the discovery of chalcopyrite in four of the first six holes. I would like to thank Equity Exploration Consultants Ltd., and Dorado Drilling for their quick and efficient execution of this drill program. On Nov. 13 and 15, Equity Exploration geologists, members of the board and our technical advisory committee had the opportunity to observe the first six holes of Camelot drill core and compare it to core from a nearby mine, which has enhanced our ability to identify the complex lithologies of the intrusive rocks present in the Camelot drill core and advanced our understanding of the association between the various intrusive bodies and their geophysical signatures. This knowledge has allowed us to modify the drill plan on the fly, targeting predominantly high chargeability targets (greater than 27 mV/V) as we see a greater correlation between moderate-high chargeability and disseminated pyrite and chalcopyrite in the drill core. We anxiously await gold and copper assay results to confirm our hypothesis that Camelot contains a significant alkalic porphyry deposit.”

Portable XRF

A portable XRF analyzer has been used to aid in the identification of very fine grained and disseminated chalcopyrite in rocks where strong alteration makes identification difficult. The pXRF provides reliable copper identification, in this case taken as spot samples from a approximately 0.5-square-centimetre area of drill core at one m intervals.

Despite their reliability, pXRF analyses of drill core are less representative than wet-chemical assays — as they represent such a small quantity of rock — and in this particular case should be regarded as a qualitative screening tool that complements visual core logging.

Portable XRF analyses have detected the presence of copper over core lengths of approximately 75 to 120 m in four of the six holes described here; the other two (CAM25-003, CAM25-004) were not yet analyzed by pXRF. Copper measurements are shown as histograms in cross-sections for holes CAM25-001, CAM25-002 and CAM25-006 and demonstrate continuity and variance in copper grades that are consistent with visual logging.

Accurate copper and gold values will be determined by wet geochemical and fire assay methods, respectively. Samples from holes CAM25-001 and CAM25-006 were submitted to the lab on a rush basis so that assays are expected in late December. True widths of mineralization are unknown at this time.

Visual observations in drill core

Drill hole locations are provided in Table 1.

The CAM25-001 and CAM25-002 targets were drilled from the same pad. Both holes tested a coincident chargeability high and an inverted magnetic apophysis-like structure; CAM25-002 focused on the magnetic anomaly. Both holes returned significant intervals of fine-grained disseminated pyrite and lesser chalcopyrite hosted in moderate to strong potassic-altered monzonite and intermediate to mafic volcanic rocks.

CAM25-003 and CAM25-004 targeted closely associated moderate chargeability and magnetic features at depth of 90 to 150 m below the surface. CAM25-003 intersected mostly highly magnetic gabbro with weak pyrite mineralization and trace disseminated chalcopyrite. CAM25-004 was quick-logged as the same gabbro with full logging paused until efforts on other targets had been concluded.

CAM25-005 and CAM25-006 tested a large high chargeability anomaly with isolated inverted magnetic pipe-like features at depth. Drill hole CAM25-005 intersected mostly weak to moderately pyrite-mineralized diorite with trace to weak disseminated chalcopyrite, and elevated (2 to 5 per cent) quartz and quartz-carbonate veinlets.

Drill hole CAM25-006 intersected variably K-feldspar altered andesite, diorite and monzodiorite, hosting minor amounts of fine disseminated pyrite and 1 to 4 per cent pyrite veinlets, as well as weak to trace very fine grain chalcopyrite from 140 m depth to the end of hole.

About the Camelot property

The 2,646-hectare Camelot property lies approximately 65 km east of Williams Lake, B.C., within the Quesnel terrane — home to multiple producing copper-gold and copper-molybdenum porphyry deposits, including the nearby Gibraltar and Mount Polley mines. Camelot is located 34 km southeast of Imperial Metal’s Mount Polley and 13 km northeast of Vizsla Copper’s Woodjam project.

The project area benefits from year-round road access and excellent regional infrastructure. Previous exploration work has outlined a 1,700 m by 500 m coincident chargeability-magnetic anomaly trending northeast-southwest beneath shallow till cover in an area that has not been previously drilled.

The property is centred on the Lemon Lake stock, a Late Triassic to Early Jurassic multiphase pluton hosted in volcanic units of the Quesnel terrane. The approximately five km wide pluton was formed by early phases of gabbro cut by younger monzonite, breccias and late-stage syenitic dikes. Moderate K-feldspar and biotite alteration, as well as local pyrite-chalcopyrite mineralization, are primarily associated with monzonite intrusions. Zones of sericite-pyrite (or phyllic) alteration appear to be rare, consistent with the interpreted alkalic porphyry model assumed for the system.

Drill hole locations

The drill program is being conducted from drill pads constructed next to logging roads and fire breaks, with minimal surface disturbance. See Table 1 for a summary of drill hole orientation and location.

Land acknowledgement

Prospect Ridge acknowledges that Camelot is situated within the traditional territories of the Williams Lake Indian Band, Xatsull First Nation, Whispering Pines/Clinton Indian Band, Northern Shuswap Tribal Council and the Neskonlith Indian Band. The company is committed to building positive, transparent and mutually beneficial relationships with indigenous communities founded on trust, respect and open communication.

QA/QC (quality assurance/quality control)

Prospect Ridge’s 2025 exploration program is managed by Equity Exploration Consultants Ltd. of Vancouver, B.C. The drill contractor is Dorado Drilling Ltd. of Vernon, B.C.

Core logging was done under the onsite supervision of professional geoscientists registered with EGBC and employed by Equity, a registered firm with EGBC.

Portable XRF analyses were done with an Olympus Vanata on spot samples every one m down the drill string. Spots were placed on representative pieces of core to avoid a selection bias of higher-grade samples. Occasional measurements of certified reference materials used for wet chemistry showed that pXRF analyses are precise. Results were exported directly from the pXRF machine into 3-D modelling software.

Qualified person statement

All technical information that forms the basis for the written disclosure in this press release, has been approved by Ron Voordouw, PhD, PGeo, director of geoscience for Equity Exploration Consultants, who is an independent consultant to the company, and a qualified person as defined under the terms of National Instrument 43-101.

About Prospect Ridge Resources Corp.

Prospect Ridge Resources is a British Columbia-based exploration and development company focused on critical metals and gold. Led by a seasoned management and technical team with over 100 years of combined mineral exploration experience, Prospect Ridge is advancing its north-central B.C. located Golden Horseshoe and Cariboo projects — high-potential copper-gold systems positioned within one of Canada’s most underexplored yet geologically endowed mineral belts.

We seek Safe Harbor.

https://prospectridgeresources.com/