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Pacific Ridge Options Yukon Gold Projects to Labrador Gold
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2026) - Pacific Ridge Exploration Ltd. (TS...
About this update from Pacific Ridge Exploration Ltd.
[{"type":"text","content":"Pacific Ridge Options Yukon Gold Projects to Labrador GoldVancouver, British Columbia--(Newsfile Corp. - May 11, 2026) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (FSE: PQW) (\"Pacific Ridge\" or the \"Company\") is pleased to announce that it has optioned the Mariposa gold project (\"Mariposa\") and the Eureka Dome gold project (\"Eureka Dome\") to Labrador Gold Corp. (\"Labrador\")(LAB: TSXV). Eureka Dome and Mariposa are located in the Yukon's White Gold District (see Figure 1).\"We are delighted to have found a well-funded partner to advance Mariposa and Eureka Dome while we remain focused on our B.C. copper projects,\" said Blaine Monaghan, President & CEO of Pacific Ridge. \"With Fuerte's recent acquisition of the Coffee deposit, the White Gold District is heating up again. I look forward to watching Labrador advance these projects, especially Mariposa, which returned 2.44 g/t gold over 39 metres in 2011 drilling but has seen little exploration since then.\"Figure 1 Location of Mariposa and Eureka Dome To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5460/296816_dd630934c4fd49a7_001full.jpgOption Agreement TermsLabrador can acquire a 100% interest in both Mariposa and Eureka Dome by making cash payments totalling $500,000, issuing 6,670,000 shares, and making exploration expenditures totaling $5.4M over a four-year period (the \"Agreement\")(see Table 1). In addition, upon the filing of a positive feasibility study, Labrador will make a $1.0M cash payment. The Agreement is subject to regulatory approval.Table 1CashSharesWorkClosing$100,000800,000N/A1st anniversary$100,0001,000,000$150,0002nd anniversary$100,0001,270,000$1,500,0003rd anniversary$100,0001,500,000$1,750,0004th anniversary$100,0002,100,000$2,000,000TOTAL$500,0006,670,000$5,400,000 Mariposa Owned 100% by Pacific Ridge, Mariposa comprises 795 claims and is located 120 kilometres southeast of Dawson City in the Yukon's White Gold District of the Dawson Range Mineral Belt (\"Dawson Range\"). The Dawson Range is a regional major northwest-trending structural corridor which hosts numerous gold and copper deposits, including Fuerte's Coffee deposit, located 30 kilometres west-southwest of Mariposa, and White Gold's Golden Saddle, located 40 kilometres west-northwest of Mariposa. The geo...