Pacific Ridge Exploration

The western boundary of the Mariposa property lies approximately 12 km northeast of Kaminak Gold’s Coffee Creek property and 15 km southeast of the Underworld – White Gold property now owned by Kinross Gold Corporation.

The contiguous block of more than 1400 Mariposa claims, covering an area of 262 km², contains an extensive area of placer gold occurrences.

The claims encompass exploration targets comprising a 30 km length of a geological setting generally analogous to the White Gold/Coffee Creek style of gold mineralization. Within the property are five gold-in-soil geochemical anomalies and regional silt samples anomalous in gold. Drill targets at Mariposa consist primarily of gold-in-soil anomalies and areas where rock samples with anomalous gold values have been collected. In addition, an associated coincidence with magnetic anomalies can indicate a structural setting for hosting gold mineralization.

Phase 1 of the 2011 exploration program, budgeted at $3 million, was expanded to 6,000 m of diamond drilling to test significant gold-in-soil anomalies and gold values in trenches identified in 2010.

Diamond drilling commenced mid-June.

During the month of April, a detailed airborne magnetometer survey was flown over the 2010 Mariposa soil grid area, to identify geologic structures with potential to host lode gold mineralization.

A preliminary geophysical interpretation of results suggests that the Mariposa grid area lies within a major, 3-km-wide structural corridor of converging arrays of more discrete northeast, northwest and north-south trending structures.

In summary, the 2011 exploration program was designed to quickly evaluate and drill test exploration targets defined last season within the Mariposa soil grid area, as well as to continue exploration of the overall 190 km² property through reconnaissance soil sampling that should lead to grid controlled sampling of newly defined areas of prospectivity.