3 Copper-Gold Targets in BC, But Can They Deliver a Discovery? | Prospect Ridge CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today in the CEO BBQ, early stage copper and gold exploration in British Columbia, together with Prospect Ridge.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, theresourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and in-personal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on SitterPlus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, Prospect Ridge is sitting on a handful of early stage copper gold targets in British Columbia, the flagship of which is called the Camelot Project, and that's an Okalic copper gold porphyry located in the Caribou mining district, roughly 34 kilometers southeast of Imperial Metals's Mont Poly mine. Now, the best intercept they had on the property is from 2025 It was 156 meters of approximately 0.08% copper and 0.07 grams per ton gold, which is obviously not economic yet, but it is something that I'll be asking about later on. Right now, the company is in the field with a roughly 1500 meter drill program at another target. It's a target that's never been drill tested before called Excalibur, and it's in the Babine Belt, which that drill program started in just a couple of weeks ago or maybe last week, mid-July.
Well, Camelot itself, so the flagship target is in a temporary pause for additional lidar and geophysical refinement ahead of hopefully some more drilling later this year, but that's something that I'll be asking about as well.
The rest of the portfolio in BC includes the Castle Target in the Turugun, and that one is at the geophysics and target definition stage, so there's no immediate drilling that's committed to there yet. Then there's an earlier high-grade vein work at Nouse Creek and Holy Grail, but those have been pushed to an on-hold status, if you will, since the 2024 drilling didn't pan out exactly as they had planned. But it is something that we might touch upon toward the latter part of the conversation. Now, for some of the numbers and a bit of the details, Prospect Ridge is listed as PRR on the CSE in Canada, where the average daily volume of the last three months has been about 130,000 shares. The 52-week high is 13.5 cents and the 52-week low is 4 cents. With a little under 114 million shares outstanding and a $5.7 million market cap, today this is a 5-cent stock with a 50 and a 200-day moving average at 5 and 7 cents respectively. So the stock is now trading between those two.
There are 22.6 million warrants outstanding and 5.4 million options to get are representing about a fifth or 20% of the 141.8 million shares outstanding on a fully diluted basis. The last time Prospect Ridge raised money was in March of this year. They closed the non-brokered flow through private placement of 5 million shares at 9 cents for gross proceeds of $450,000, which ran scheme of things for the company that's drilling not a lot of money. So how far is it going to get them? What is it going to buy them? And when will they have to be back to the market? Those are all questions that I'll be asking later on in the conversation. But for this to actually become a conversation, though I will have to shut up already and Len, I'll give you the word. But first of all, thank you for sitting down with me today.

**Len Brownlie** (3:51)
Antonio, thank you very much for having me. It's a pleasure to meet you and discuss Prospect Ridge with you.

**Antonio** (3:58)
I'm looking forward to chatting Len, but you have to help me better understand what the plan is here before we actually dive into the different targets because you've got multiple of them, multiple targets, different projects, all of which very early stage. Is the plan to move them forward simultaneously yourself by raising your own money through equity, or do you see yourself becoming more of a prospect generator type of company?