Mr. Mike Blady reports

GOLDEN RIDGE RESOURCES ANNOUNCES AMENDMENT TO AGREEMENT TO ACQUIRE MAJORITY INTEREST IN BRAZILIAN MINING PRODUCER MM GROUP LTDA.

Golden Ridge Resources Ltd. has entered into an amending agreement dated March 31, 2025, with MM Group Ltda. (MMG), Minas Mineracao Ltda. and certain members of MMG (collectively, the vendors), amending the terms of the share exchange agreement dated June 4, 2024, among the parties to extend the outside date for completion of the transactions contemplated in the share exchange agreement to April 15, 2025.

Pursuant to the share exchange agreement, it is anticipated that Golden Ridge will acquire 80 per cent of the issued and outstanding membership interests in MMG from the vendors (the proposed transaction) in consideration of the issuance of 500 million common shares in the capital of Golden Ridge. If completed, the proposed transaction will constitute a reverse takeover of Golden Ridge in accordance with Policy 5.2 -- Changes of Business and Reverse Takeovers of the TSX Venture Exchange, with the resulting entity the continuing the business of MMG under a name to be determined by the company and MMG prior to the closing of the proposed transaction.

The completion of the proposed transaction remains subject to a number of terms and conditions that are standard for transactions of this nature, including, among other things, the approval of the company's shareholders and exchange acceptance. There can be no assurance that all of the necessary regulatory and shareholder approvals will be obtained or that all conditions of closing will be met.

About Golden Ridge Resources Ltd.

Golden Ridge is a TSX Venture Exchange-listed exploration company engaged in acquiring and advancing mineral properties located in British Columbia and Newfoundland. Golden Ridge owns a 100-per-cent interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, B.C. The company also own a 100-per-cent interest in the 1,550-hectare Williams gold property, that is surrounded by New Found Gold Corp.'s Queensway South gold property 1 in the central Newfoundland gold belt of the province of Newfoundland and Labrador.

At the company's request, trading in Golden Ridge's shares was voluntarily halted in June, 2024, upon the company entering into a definitive agreement with MMG. Trading is expected to remain halted until the completion or abandonment of the proposed transaction.

We seek Safe Harbor.