NOT FOR DISSEMINATION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 

In connection with a Private Placement closed in December 2004, Pacific Ridge Exploration Ltd. (the "Company") is pleased to announce that it has issued 2,390,000 shares on the exercise of share purchase warrants, for gross proceeds of $597,500. The remaining share purchase warrants, which expired on December 16, 2006, allowing for the purchase of up to 2,500,000 shares were not exercised.


"John S. Brock"

John S. Brock
President

For further information, contact:

Corporate Information
Pacific Ridge Exploration Ltd.
John S. Brock
President
Tel: (604) 604.641.2759
www.pacificridgeexploration.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.