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DELPHI Unternehmensberatung Announces Filing of Early Warning Report

HEIDELBERG, Germany, Jan. 16, 2023 (GLOBE NEWSWIRE) --  DELPHI Unternehmensberatung Aktiengesellschaft (“DELPHI”) has disposed of 33,000 common shares (“Common Share”) of Pacific Ridge Exploration Ltd. (TSX-V: PEX) (“Issuer”) on the TSX Venture Exchange at a price of $0.29 per Common Share for a total consideration of $9,570.00, resulting in a 0.030% decrease in its securityholding percentage.

Prior to the disposition DELPHI held 7,607,000 Common Shares and 4,500,000 common share purchase warrants (“Warrant”) , with each Warrant exercisable to purchase one additional Common Share. The 7,607,000 Common Shares represented approximately 7.331% of the issued and outstanding Shares of the Issuer. The 7,607,000 Common Shares and the 4,500,000 Warrants collectively represented approximately 11.182% of the issued and outstanding Shares of the Issuer, assuming exercise of the Warrants.

Following the disposition DELPHI now holds 7,574,000 Common Shares and 4,500,000 Warrants. The 7,574,000 Common Shares represent approximately 7.299% of the issued and outstanding Shares of the Issuer. The 7,574,000 Common Shares and the 4,500,000 Warrants collectively represent approximately 11.152% of the issued and outstanding Shares of the Issuer, assuming exercise of the Warrants.

The disposition of Common Shares was made for investment purposes. DELPHI may increase or reduce its investment in the Issuer according to market conditions or other relevant factors.

DELPHI was incorporated in Germany. DELPHI’s principal business is to invest its own funds.

For further details relating to the Transaction, please see the Report, which was filed in accordance with applicable securities laws, a copy of which will be available under the Issuer’s profile on the SEDAR website at www.sedar.com, or may be obtained from DELPHI Unternehmensberatung Aktiengesellschaft, Wilhelm K. T. Zours (CEO / Member of the Board), +49 6221 649240, info@deutsche-balaton.de.