Pacific Ridge Exploration Ltd.: Proposed $850,000 Private Placement for 2014 Exploration

Pacific Ridge Exploration Ltd.: Proposed $850,000 Private Placement for 2014 
Exploration 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Pacific Ridge Exploration Ltd. 
TSX VENTURE SYMBOL:  PEX 
MAY 13, 2014 
Pacific Ridge Exploration Ltd.: Proposed $850,000 Private Placement for 2014
Exploration 
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 13, 2014) -  
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 
Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) ("Pacific Ridge" or
the "Company") reports that that it is proposing to sell by way of a
non-brokered private placement up to 5,000,000 flow-through shares to Canadian
resident investors, each flow-through share priced at $0.07 to raise gross
proceeds of $350,000 and up to 10,000,000 units (the "Units") at a
price of $0.05 per Unit to raise gross proceeds of $500,000. Each Unit is
comprised of one non-flow-through common share and one-half of a transferable
share purchase warrant, with each whole warrant (a "Warrant")
entitling the holder to purchase one additional non-flow-through common share
at a price of $0.10 per share for 12 months, subject to the following
acceleration provision: If at any time after 4 months from the date of issue of
the Warrants the closing market price of the Company's common shares on
the TSX Venture Exchange is greater than $0.15 per share for 20 consecutive
trading days (the "Triggering Event"), the Company may, within 5 days
of the Triggering Event, accelerate the expiry date of the Warrants by giving
notice thereof to the holders of the Warrants, by way of press release, in
which event the Warrants will expire on the 21st day after the date on which
such notice is given.  
In connection with the private placements, the Company is proposing to pay
finders' fees either in cash (6%) or shares equal in number to 6% of the
number of flow-through shares and Units purchased by investors that may be
introduced to the Company by finders. The private placements and payment of
finders' fees are subject to regulatory approval. 
Pacific Ridge will use the gross proceeds from the sale of the flow-through
shares for Canadian Exploration Expenses ("CEE"), within the meaning
of the Income Tax Act (Canada), with the Company using its best efforts to
ensure that such CEE qualify as a "flow-through mining expenditure"
for purposes of the Income Tax Act (Canada), related to the exploration of the
Company's mineral exploration projects located in Yukon, Canada. The
Company expects to renounce such Canadian Exploration Expenses with an
effective date of December 31, 2014. Pacific Ridge will use the gross proceeds
from the sale of the Units for proposed mineral property acquisition costs. 
Pacific Ridge has applied for Yukon Mineral Exploration Program
("YMEP") assistance for its 2014 Yukon field program. Last year the
Company received $70,000 through the YMEP program. This year Pacific Ridge
proposes to carry out its first phase of drilling on the King Solomon gold
property located near Dawson City. Joint venture participation opportunities
are also being considered for other Pacific Ridge projects within Yukon.  
Pacific Ridge is also evaluating participation and acquisition in other
exploration opportunities located in jurisdictions outside of Yukon. This
endeavor is planned in order to broaden the current scope of ongoing
exploration activity on a year-round basis.  
On behalf of the Board of Directors, 
John S. Brock, President & CEO 
Pacific Ridge Exploration Ltd. 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
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 and other activities and events or developments that Pacific Ridge
Exploration Ltd. ("Pacific Ridge") expects to occur, are
forward-looking statements. Forward-looking statements in this news release
include statements regarding the placements and future exploration plans and
expenditures. 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 forward-looking statements.
Factors that could cause actual results to differ materially from those in
forward looking statements include market prices, exploration successes, and
continued availability of capital and financing and general economic, market or
business conditions. These statements are based on a number of assumptions
including, among other things, assumptions regarding general business and
economic conditions, the timing and receipt of regulatory and governmental
approvals for the transactions described herein, the ability of Pacific Ridge
and other parties to satisfy stock exchange and other regulatory requirements
in a timely manner, the availability of financing for Pacific Ridge's
proposed transactions and programs on reasonable terms, and the ability of
third party service providers to deliver services in a timely manner. 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, except as required by applicable law. 
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacific Ridge Exploration Ltd.
John S. Brock
President & CEO
(604) 484-7116 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
SUBJECT:  STK 
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-0- May/13/2014 13:00 GMT
 
 
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