Pacific Ridge Exploration (PEX)

[Ed Monton]

PEX results don't look that great so far...

Thu Jan 22, 2004
Drilling Indicates Deeper Gold Zones

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Pacific Ridge has two drills turning at the Golden Arrow Property near Tonopah, Nevada, with 15 holes now completed on four gold zones. Drilling is focused on testing gold feeder vein zones below known gold zones at vertical depths of 200 to 400 metres.

- Assays results have been received for the initial 5 widely spaced drill holes (hole numbers 287 to 291) testing depth extensions of the feeder vein system at the Gold Coin Zone. Two of the five holes intersected high-grade mineralization between sections 2300N and 3000N, and are now defining the lateral limits of the deeper gold vein system.

Results of the initial 5 holes at the Gold Coin zone are summarized below:

            Gold Coin Zone - Drill Hole Results 
 ------------------------------------------------------------------- 
                  Intercept 
 Hole Section    From    To    Interval   Gold Assay   Silver Assay 
                 (m)     (m)     (m)         (g/t)       (g/t) 
 ------------------------------------------------------------------- 
 287   2700     297.3   298.8    1.5          2.2         73.1 
 ------------------------------------------------------------------- 
 288   2900     178.3   182.9    4.6         10.6         54.9 
 ------------------------------------------------------------------- 
      (incl.)   178.3   179.8    1.5         22.0        102.7 
 ------------------------------------------------------------------- 
 289   3000     213.4   214.9    1.5          2.2         12.2 
 ------------------------------------------------------------------- 
 290   3300                  No Significant Values 
 ------------------------------------------------------------------- 
                204.3   205.8    1.5         12.1         17.6 
 ------------------------------------------------------------------- 
 291   2800     242.4   243.9    1.5         19.4         62.5 
 ------------------------------------------------------------------- 
 

- Assays are still pending for 5 holes testing deep feeder vein systems at the Hidden Hill - 186 Zone, where drilling has intersected broad zones of intense alteration along with quartz veins.

- Results from 2 holes testing the Sunrise geochemical target are pending.

Drilling is continuing at Golden Arrow with 15 of the planned 45-hole Phase II program now completed.

Wayne J. Roberts, P.Geo and V-P, Exploration of Pacific Ridge, is the designated Qualified Person for the Golden Arrow project. Mr. Roberts supervises drill hole planning, implementation and QC/QA programs. All assaying is being performed by American Assay Laboratories of Sparkes, Nevada which utilizes standard fire assay techniques and conducts check assays employing a metallic assay procedure.

Additional information on the Golden Arrow exploration program may be viewed on the Pacific Ridge website, www.pacificridgeexploration.com


"John S. Brock"

John S. Brock
President

For further information, contact Blaine Monaghan, Manager, Investor Relations at 604-687-4951
or toll free 1-800-403-2988, or email [e-mail]

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