Pacific Ridge Exploration Ltd.: Consolidation and Proposed Private Placement

THIS NEWS RELEASE 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, further to its news release of April 16, 2013, the
Company has proceeded with the 5:1 consolidation of its issued common shares
without a change of name. Effective at the opening of the market on April 30,
2013, the Company's shares will trade on a consolidated basis under the symbol
"PEX" (with new CUSIP number 694798307). Letters of Transmittal will be
forthcoming.


Pacific Ridge also announces that it is proposing to sell by way of non-brokered
private placements up to 7,000,000 flow-through shares to Canadian resident
investors, each flow-through share priced at $0.07 to raise gross proceeds of
$490,000, and up to 5,000,000 units (the "Units") at a price of $0.05 per Unit
to raise gross proceeds of $250,000. 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
24 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. 


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, 2013.
Pacific Ridge will use the gross proceeds from the sale of the Units for general
working capital purposes. 


In connection with the private placements, the Company is proposing to pay
finders' fees 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.


On behalf of the Board of Directors, 

John S. Brock, President & CEO

Pacific Ridge Exploration Ltd.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacific Ridge Exploration Ltd.
John S. Brock
President & CEO
[phone]
[phone] (FAX)
www.pacificridgeexploration.com