Pacific Ridge Exploration Ltd.: Exchange Accepts Filing of the Phos Property Agreement

VANCOUVER, BRITISH COLUMBIA, Jun 25, 2008 (Marketwire via COMTEX) -- PFREF | Quote | Chart | News | PowerRating -- Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) is pleased to announce that the TSX-Venture Exchange (the "Exchange") has accepted for filing the agreement to acquire a 100% interest in the Phos Property, in consideration for making staged cash payments totaling $80,000 by December 31, 2009 and staged issuances of shares totaling 1.0 million shares by December 31, 2010. The vendors retain a 2% Gross Overriding Royalty ("GORR") from potential future production, of which 1% is extinguished after $2.0 million is paid. The GORR pertains to all commodities except coal.

In accordance with the terms of the agreement, the Company has paid $20,000 and issued 100,000 shares to the vendors. The Shares are subject to Exchange and Multilateral Instrument 45-102 hold periods expiring on October 26, 2008.

John S. Brock, President

SOURCE: Pacific Ridge Exploration Ltd.

Pacific Ridge Exploration Ltd. - Corporate Information John S. Brock President (604) 687-4951 (604) 688-4670 (FAX) Website: www.pacificridgeexploration.com G2 Consultants Corporation - Investor Inquiries (604) 742-9990 or NA Toll Free: 1-866-742-9990 (604) 742-9991 (FAX) Email: info@g2consultants.com

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