Gold Ridge Exploration Corp. to Close Initial Public Offering

CALGARY, ALBERTA -- (Marketwire - May 2, 2012) - Mr. David Heighington, a Director of Gold Ridge Exploration Corp. (TSX VENTURE: GEA) (the "Corporation") announces the Corporation has raised $675,000 pursuant to an initial public offering consisting of the issuance of 4,500,000 common shares which will close on May 3, 2012. The Corporation's common shares will be listed and posted for trading on the TSX Venture Exchange on or about May 3, 2012 under the symbol "GEA". The Corporation has granted an aggregate of 760,000 stock options to directors and officers of the Corporation and which are exercisable on or before July 31, 2016 at an exercise price of $0.15 per common share.

Wolverton Securities Ltd. (the "Agent") acted as lead agent for the Corporation's Offering. As compensation to the Agent for services in connection with the Offering, the Corporation has paid a cash fee of $67,500 which represents the consideration for the commissions payable, $15,000 (plus GST) for the balance of the corporate finance fee, and issued 450,000 broker options entitling the Agent and its sub-agents to acquire an aggregate of 450,000 Shares at an exercise price of $0.15 per share which expire 24 months from the closing date.

The Corporation's initial objective is to proceed with the recommended exploration program on the Tahsis Property located in the Nanaimo Mining division on Northern Vancouver Island, British Columbia.

The Corporation is a mineral exploration company, focusing on the exploration and discovery of economic precious and base metals properties of merits. Its business consists of the acquisition, exploration and development of mineral properties.



Forward-Looking Statements

Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving the Corporation. Many of these statements can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues", or similar words and include but are not limited to, statements regarding the accretive effects of the acquisition and the anticipated results and expected benefits of the acquisition upon closing thereof. The Corporation believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in the Corporation's continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of the Corporation. Any forward-looking statements are made as of the date hereof and the Corporation does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.

TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Gold Ridge Exploration Corp.
Mr. David Heighington
(403) 237-0018

Gold Ridge Exploration Corp.
Suite 730, 1015 - 4th Street SW
Calgary, Alberta T2R 1J4