Disposition of Pacific Ridge Exploration Shares

TORONTO, May 24, 2024 /CNW/ - This news release is being made by AuRico Metals Inc. ("AuRico") to report a disposition of common shares ("Shares") in the capital of Pacific Ridge Exploration Ltd. (the "Issuer"), a corporation with a head office at 1100 - 1111 Melville St., Vancouver, British Columbia, V6E 3V6, Canada.

From May 6 to May 23, 2024, an aggregate of 2,013,589 Shares were sold through the facilities of the TSX. Immediately prior to the disposition of Shares referred to herein, AuRico had control or direction over 16,996,099 Shares, representing approximately 11.23% of the issued and outstanding Shares. Immediately following the disposition referred to herein, AuRico had control or direction over 14,982,510 Shares, representing approximately 9.90% of the issued and outstanding Shares. The Shares were sold through the facilities of the TSX at an approximate average price of C$0.08 per Share, for aggregate proceeds of C$152,164.

AuRico sold the Shares for investment purposes. AuRico has no current plans or intentions which relate to, or would result in, acquiring securities of the Issuer, disposing of securities of the Issuer, or any other actions described in Item 5 of Form 62-103F1 Required Disclosure under the Early Warning Requirements. Depending on market conditions, AuRico's view of the Issuer's prospects and other factors AuRico considers relevant, AuRico may acquire securities of the Issuer from time to time in the future, in the open market or pursuant to privately negotiated transactions.

AuRico is a wholly owned subsidiary of Centerra Gold Inc. and may be considered a joint actor with Centerra Gold Inc. and certain of its wholly owned subsidiaries, including Thompson Creek Metals Company Inc., in respect of the Shares. An early warning report with respect to the disposition will be filed by AuRico on the Issuer's SEDAR+ profile at www.sedarplus.com.

SOURCE AuRico Metals Inc

For more information, or to obtain a copy of the subject early warning report, please contact: 1 University Avenue, Suite 1500, Toronto, Ontario, M5J 2P1; Lisa Wilkinson, Telephone: [phone]