Pacific Ridge Exploration: Positioning for Copper-Gold Discovery in British Columbia’s Golden Horseshoe

Pacific Ridge Exploration Ltd. (TSXV: PEX) is advancing its RDP copper-gold project in British Columbia’s Golden Horseshoe region, a district recently electrified by Amarc Resources’ (TSXV:AMR) high-grade AuRORA discovery. With the company now in discussions with multiple investor groups to fund a 2025 drill program targeting a deeper, high-grade porphyry source, the RDP project’s potential has never been more compelling—or more dependent on financing. Here’s why investors should pay attention.

The RDP Project’s Geological Upside

The RDP project sits within a prolific copper-gold belt, less than 100 km from Amarc’s AuRORA deposit, which recently reported a 108-meter intercept grading 2.59% copper equivalent (CuEq) in a single drill hole. Pacific Ridge’s own historical drilling at RDP in 2022 delivered a standout result: 107.2 meters of 1.39% CuEq (including 0.63% copper, 1.10 g/t gold, and 2.91 g/t silver) within a broader 497.2-meter interval averaging 0.66% CuEq. These grades align with the economic thresholds of nearby mines like Mount Milligan and Kemess Underground, where recoveries are estimated at 84% for copper and 70% for gold—key assumptions underpinning Pacific Ridge’s resource estimates.

The 2025 drill program aims to test the 500–550-meter-deep porphyry source, a target identified through geophysical surveys (Magnetic Vector Inversion and Induced Polarization) that suggest a north-dipping pipe system. This deeper zone remains untested, with prior drilling only reaching 573 meters in 2023—a campaign deemed insufficient to validate the source. The program’s success hinges on intersecting this core, which could expand the project’s resource base significantly.

Funding the Next Phase: Progress and Challenges

Pacific Ridge has secured a 30-day extension for closing the second tranche of its previously announced financing, allowing more time to finalize terms with investors. To date, the company has raised $20 million in cumulative funding through private placements and grants, including an $8 million private placement in March 2025. However, it remains in pursuit of a $30 million Series B round, contingent on regulatory approvals by year-end.

The strategic partnership with GreenTech Investments hints at a future $50 million green bond issuance by 2026, though this is not yet realized. For now, the company’s financial focus is on the 2025 drill program, which will be funded in part by a non-brokered private placement offering $1.86 million via flow-through shares and units. Flow-through funding, which provides tax benefits for Canadian exploration expenses, is critical for advancing critical minerals projects in B.C., where permitting for such initiatives is accelerating under provincial policy.

Risks and Considerations

Pacific Ridge’s journey is not without hurdles. The company’s valuation remains tied to drilling outcomes: if the 2025 program fails to intersect the deeper porphyry source, investor confidence could wane. Additionally, global copper prices—currently around $3.50/lb—are a key variable, as the RDP’s CuEq calculations assume a $3.25/lb copper price. A sustained drop in copper could reduce the project’s economic appeal.

Regulatory risks also loom. While British Columbia has prioritized critical minerals exploration, delays in permitting or environmental approvals could stall progress. Investors should monitor the company’s ability to secure the Series B financing and its ongoing discussions with potential partners.

Why the RDP Matters in a Copper-Constrained World

The RDP’s location in B.C.’s Golden Horseshoe positions it at the heart of a copper-gold renaissance. Amarc’s AuRORA discovery has already validated the district’s potential, and Pacific Ridge’s proximity to this high-grade system offers a compelling exploration thesis. With global copper demand projected to surge 40% by 2030 (per the International Copper Association) due to EV adoption and green infrastructure, early-stage projects like RDP are increasingly attractive for investors seeking exposure to critical minerals.

Conclusion: A High-Reward, High-Risk Opportunity

Pacific Ridge’s RDP project is a high-potential, early-stage asset with the geological and strategic advantages to become a cornerstone of B.C.’s copper-gold sector. The 2025 drill program targeting the 500–550-meter-deep porphyry source represents a critical inflection point: success could unlock a resource comparable to nearby mines, while failure risks dilution or loss of investor interest.

For investors willing to take on the risk, the rewards are significant. With a market cap of $37 million (as of May 2025) and a project area of 10,000 hectares, Pacific Ridge offers leverage to both drilling results and rising commodity prices. The company’s extension of financing timelines and partnerships suggest a strategic focus on building a robust exploration story—key for sustaining interest until results emerge.

The next 12 months will be pivotal. If the RDP’s deeper zones deliver grades matching or exceeding historical intercepts, Pacific Ridge could join Amarc as a leading explorer in one of North America’s most promising copper districts. The path is clear, but the drilling must deliver.

Data as of May 2025. Always conduct thorough due diligence before making investment decisions.