Prospect Ridge Resources (CSE:PRR) has completed a ten-hole diamond drilling program at its 100% owned Camelot copper-gold project located in British Columbia’s Cariboo Mining District, concluding field operations for the 2025 campaign. The program, which totaled 2,010 metres of drilling over a 21-day period, was carried out from eight drill pads and targeted multiple geophysical and geochemical anomalies beneath glacial till that had not previously been drill tested.

The final four drill holes of the program—CAM25-007 through CAM25-010—accounted for 903 metres of drilling and were completed from three sites along the northeastern segment of a 1.7-kilometre-long prospective trend identified through geophysical and soil geochemical surveys. The northeasternmost hole, CAM25-009, was collared approximately 1,740 metres northeast of the first hole drilled in the program, CAM25-001, highlighting the lateral extent of the target corridor.

All drill sites, access roads, and trails associated with the program have been rehabilitated, and all field activities have been completed with the exception of reseeding at some pad locations.

Exploration Rationale and Targeting Approach

The 2025 drill program was designed to test historical copper-in-soil anomalies that coincide with induced polarization (IP) chargeability highs and moderate magnetic anomalies. This approach was based on an alkalic porphyry exploration model, where such coincident geophysical responses may reflect pyrite-chalcopyrite mineralization associated with magnetite-bearing potassic alteration. Prior to this campaign, the target areas were covered by till and had not been previously drill tested.

Results from the first six drill holes were reported in a news release dated December 4, 2025. Observations from those holes established a positive correlation between elevated chargeability responses and increased occurrences of pyrite and chalcopyrite. These findings informed modifications to the collar locations of the final four holes in an effort to refine targeting.

Drilling Summary and Program Execution

Drilling was intentionally limited in depth in most holes to allow for the testing of as many targets as possible across the property. Eight of the ten holes were terminated at depths of approximately 200 metres, despite the continued presence of pyrite and chalcopyrite at the bottom of many holes. Hole CAM25-004 was stopped at 102 metres, while CAM25-010, which was designed to test a deeper geophysical anomaly, was extended to a depth of 301 metres.

Drill core samples from holes CAM25-007 and CAM25-009 were submitted for laboratory analysis on a “rush” basis, with assay results expected in late December. Accurate copper and gold grades will be determined using wet geochemical methods and fire assays, respectively. True widths of mineralization have not yet been established.

Portable XRF and Visual Core Observations

Throughout the program, a portable X-ray fluorescence (pXRF) analyzer was used to support visual logging by identifying fine-grained and disseminated chalcopyrite in altered rock units where mineralization was difficult to confirm visually. The pXRF analyses consisted of spot measurements taken at one-metre intervals along the drill core, sampling an area of approximately 0.5 square centimetres per measurement.

While pXRF results provide reliable qualitative confirmation of copper presence, they represent a limited volume of material and are considered a screening tool rather than a substitute for laboratory assays. Copper was detected by pXRF in all four of the final drill holes. In the case of hole CAM25-009, copper values are presented as histograms in a drill hole cross-section, illustrating continuity and variability consistent with visual core logging.

Target Area Results

Alpha Target

The Alpha target is characterized by a large chargeability anomaly with associated isolated magnetic responses interpreted as potential pipe-like intrusive features. The anomaly is underlain by a moderate to low resistivity zone. Four drill holes from three pads were completed at Alpha.

As previously reported, CAM25-005 intersected weak to moderately pyrite-mineralized diorite with trace to weak disseminated chalcopyrite and elevated quartz and quartz-carbonate veining. CAM25-006 intersected variably K-feldspar-altered andesite, diorite, and monzodiorite containing disseminated pyrite, pyrite veinlets, and weak chalcopyrite from 140 metres to the end of the hole.

Hole CAM25-008 intersected moderate to strong K-feldspar–biotite–chlorite-altered monzodiorite and diorite intruding andesite, hosting 0.5–5% disseminated fine-grained pyrite and trace chalcopyrite. CAM25-010 intersected weak to moderately altered andesite intruded by narrow intervals of diorite, monzodiorite, and monzonite, containing 1–5% disseminated pyrite and rare chalcopyrite.

Bravo Target

The Bravo target consists of a chargeability high coincident with pipe-like magnetic anomalies. Drill hole CAM25-007 intersected moderately altered monzonite intruding andesite, with 1–3% disseminated pyrite and fine-grained chalcopyrite detected through pXRF analysis. Rare quartz vein-hosted chalcopyrite was also observed.

Echo Target

The Echo target lies on the shoulder of a moderate magnetic anomaly and was tested by drill hole CAM25-009, which was drilled at a -60-degree inclination toward the northwest. The hole reached its planned depth of 201 metres and was designed to test a chargeability anomaly interpreted to be caused by disseminated pyrite.

Visual core logging confirmed that the highest chalcopyrite concentrations coincide with the chargeability anomaly, a relationship supported by real-time pXRF measurements. The hole intersected volcanic rocks cut by felsic dikes, both displaying a moderate calc-potassic alteration assemblage including epidote, magnetite, chlorite, and K-feldspar, as well as quartz veins with albite halos. Both lithologies contain pyrite and chalcopyrite.

No substantial felsic intrusive body was encountered in CAM25-009. This absence may indicate that the causative intrusion lies at greater depth or that mineralization is hosted entirely within country rock, a geological configuration observed in some porphyry-style deposits, including the nearby Mount Polley mine.

Historical Drill Core Review

During the 2025 program, partially assayed core from historical drill hole LL22-001—collared near the location of CAM25-009—was re-examined. The bottom approximately 192 metres of that hole had been assayed at a limited density, with only three metres sampled for every fifteen metres of core. Oxidation of the stored core improved the visibility of previously unrecognized chalcopyrite, prompting the decision to cut and assay the previously unsampled intervals.

The Camelot property covers 2,646 hectares and is situated approximately 65 kilometres east of Williams Lake, British Columbia, within the Quesnel Terrane. The region hosts several producing copper-gold and copper-molybdenum porphyry deposits, including the Gibraltar and Mount Polley mines. Camelot is located 34 kilometres southeast of Mount Polley and 13 kilometres northeast of Vizsla Copper’s Woodjam project.

The property is centered on the Lemon Lake stock, a Late Triassic to Early Jurassic multiphase pluton composed of early gabbro intruded by monzonite, breccias, and late-stage syenitic dikes. Potassic alteration and localized pyrite-chalcopyrite mineralization are most commonly associated with monzonite intrusions, while phyllic alteration is rare, consistent with an alkalic porphyry model.

Prospect Ridge Resources Corp. (CSE:PRR) released visual drill core observations and portable X-ray fluorescence (pXRF) readings from the final four holes of a 10-hole diamond drilling program at its 100%-owned Camelot copper-gold project in British Columbia’s Cariboo Mining District. The company reported that copper-bearing mineralization was visually identified and supported by pXRF readings in all four of the latest holes.

The 2,010-metre drill program was completed over 21 days, using eight drill pads and targeting a 1.7-kilometre-long geochemical and geophysical trend on the property. According to the company, all drill sites, access roads, and trails have now been rehabilitated, with only some reseeding work still to be completed.

The final four drill holes, CAM25-007 through CAM25-010, were completed from three sites on the northeastern section of the trend. Combined, they represent 903 metres of drilling, with the most northeastern hole (CAM25-009) collared 1,740 metres from the first hole drilled in the program, highlighting what the company described as the scale of porphyry potential at Camelot.

The 2025 program was the first to drill test the target area, described as being covered by till and selected based on copper-in-soil anomalies, magnetic highs, and chargeability readings. These targets were pursued using an alkalic porphyry exploration model.

pXRF and Visual Logging Results

Prospect Ridge stated that all of the four latest holes showed disseminated pyrite and chalcopyrite, supported by pXRF readings. The company said mineralized intervals were linked to overprinting alteration and vein sets, particularly in CAM25-009, where multiple stages of porphyry-style alteration — including moderate to strong K-feldspar, albite, and epidote alteration — were recorded.

Eight of the 10 drill holes were stopped at around 200 metres to test multiple targets, although pyrite and chalcopyrite were observed at the bottoms of most holes. CAM25-004 ended at 102 metres, while CAM25-010 was extended to 301 metres to test a deeper geophysical target.

Samples from CAM25-007 and CAM25-009 were sent for rush assays. Prospect Ridge noted that pXRF data from the first six holes showed a positive correlation between sulfide content and chargeability values, leading to adjustments in the collar locations for later holes.

The company also reviewed partially assayed historic drill core from LL22-001, collared near CAM25-009 but drilled in a different direction. Only three out of every fifteen metres in the bottom 192 metres had been previously assayed. According to the company, oxidation improved visibility of chalcopyrite in the older core, prompting plans to sample the previously unassayed material.

Target Areas

Three main geophysical target areas were tested during the program — Alpha, Bravo, and Echo — each defined by coincident chargeability and magnetic anomalies.

Alpha Target:
Four holes tested this zone. CAM25-008 intersected altered monzodiorite and diorite intruding andesite, hosting 0.5–5% fine pyrite and trace chalcopyrite. CAM25-010 intersected altered andesite intruded by diorite, monzodiorite, and monzonite, containing 1–5% pyrite and rare chalcopyrite. Earlier-reported results from CAM25-005 and CAM25-006 included trace to weak chalcopyrite, quartz veinlets, and pyrite veining.

Bravo Target:
CAM25-007 targeted this anomaly and encountered altered monzonite intruding andesite with 1–3% pyrite and fine chalcopyrite detected by pXRF. Rare chalcopyrite in quartz veins was also noted.

Echo Target:
CAM25-009 tested a chargeability high adjacent to a moderate magnetic anomaly and reached 201 metres. Visual logging recorded the highest chalcopyrite concentrations in sections corresponding to the chargeability anomaly, supported by pXRF copper readings. The hole encountered volcanic rocks and felsic dikes with potassic alteration and chalcopyrite mineralization. No significant felsic intrusive body was intersected, although the company noted similarities to porphyry-style deposits without obvious causative intrusions.

A cross-section for CAM25-009 showed lithology, chargeability modeling, and pXRF copper histogram values, though Prospect Ridge cautioned that pXRF spot analysis is qualitative and not a substitute for laboratory assays.

Portable XRF Use

Portable XRF was used to identify copper in drill core where alteration hindered visual detection. Spot samples were taken on approximately 0.5 cm² areas at one-metre intervals. The company stated that while the method is reliable for copper detection, it is less representative than wet chemical assays and should be used as a qualitative indicator. Certified reference materials were occasionally measured to confirm accuracy, and the results were integrated into 3D modeling.

Camelot Property Context

The 2,646-hectare Camelot property is located about 65 kilometres east of Williams Lake, B.C., within the Quesnel Terrane, an area known for copper-gold and copper-molybdenum porphyry deposits. It lies 34 kilometres southeast of the Mount Polley mine and 13 kilometres northeast of the Woodjam project.

The project area benefits from local infrastructure and year-round access. Earlier exploration outlined a 1,700-by-500 metre magnetic and chargeability anomaly beneath shallow cover. The property is centered on the Lemon Lake stock, a multi-phase pluton intruding volcanic rocks. Alteration and minor pyrite-chalcopyrite mineralization are linked to monzonite intrusions.

Program Management and Oversight

The drill campaign was conducted from pads built near logging roads and fire breaks to reduce surface disturbance. All coordinates for the drill collars were reported using UTM NAD83 Zone 10.

Equity Exploration Consultants Ltd. managed the exploration program. Core logging took place under on-site supervision by registered geoscientists. Dorado Drilling Ltd. served as drill contractor.

All technical information used in the release was approved by Ron Voordouw, Ph.D., P.Geo., Director of Geoscience for Equity and a qualified person as defined by National Instrument 43-101.