Mr. Russell Starr reports

GREENRIDGE EXPLORATION INITIATES GROUND GRAVITY SURVEY AT THE CARPENTER LAKE URANIUM PROJECT, ATHABASCA BASIN AREA

Greenridge Exploration Inc. has commenced a ground geophysical program at its Carpenter Lake uranium project located on the southern margin of the Athabasca basin in Northern Saskatchewan, Canada. Axiom Exploration Group Ltd. of Saskatoon, Sask., has mobilized a gravity geophysical crew to the property to survey selected target areas along the Cable Bay shear zone, a major structural feature that bisects the property.

Highlights of the 2026 gravity survey:

• Well-known basement-hosted and unconformity-type uranium deposits in the Athabasca basin region commonly exhibit a gravity low signature -- an indicator of potential clay-altered zones associated with uranium mineralization due to hydrothermal alteration reducing the host rock density. Examples of significant uranium mineralization within density-low anomalies include NexGen Energy's Arrow deposit and Paladin Energy's Triple R deposit in the southwestern Athabasca basin.
• Greenridge is carrying out a high-resolution ground gravity survey at the property during the final weeks of frozen ground conditions to cover target zones A1, A2 and A5, which were identified by previous geophysics and drilling.
• The helicopter-assisted survey operations will generate a low environmental impact during station measurements, providing a sustainable exploration practice.

Russell Starr, chief executive officer of the company, commented: "The 2026 gravity survey is designed to provide detailed geophysical data over what we consider to be priority uranium target areas at Carpenter Lake. We believe the addition of high-resolution gravity data to our database will greatly add to the definition of follow-up drilling to our inaugural 2025 drilling program."

About Carpenter Lake and the Cable Bay shear zone

Carpenter Lake is composed of 12 mineral claims covering approximately 18,680 hectares that straddle the southern margin of the Athabasca basin supergroup sandstones and cover more than 15 kilometres of the CBSZ -- a prominent crustal-scale geological structure trending northeast-southwest that is largely underexplored for uranium deposits. The CBSZ is characterized by a well-defined conductive signature, radiometric anomalies and numerous historically mapped uranium occurrences.

Greenridge believes Carpenter Lake is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization akin to the Rabbit Lake, Arrow and Triple R uranium deposits. The structural style and setting along the CBSZ are ideal for the existence of a potentially significant mineralizing system, and the presence of conductive graphitic metasedimentary rocks often associated with uranium deposition in the Athabasca basin has been confirmed by both historical drilling and the company's 2025 drilling on the property.

Carpenter Lake is owned 60 per cent by Greenridge and 40 per cent by Renegade Gold Inc., with Greenridge acting as operator of exploration activities. Greenridge can earn a 100-per-cent interest in the property by fulfilling a schedule of cash payments, common share issuances and exploration expenditures (for details, please see Greenridge's news release dated May 30, 2024).

Community engagement at Carpenter Lake

In 2024, Greenridge executed exploration agreements with the English River First Nation and Kineepik Metis Local #9, each of which has ancestral rights within the property area, to provide members of each community with a role in environmental monitoring, cultural management, and financial benefits from business, employment and training opportunities. Greenridge is dedicated to carrying out its exploration at Carpenter Lake within a mutually respectful and cooperative relationship with both the ERFN and KML.

Statement of qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, PGeo, a geological consultant to the company, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Hillacre has examined information regarding historical exploration at the property, which includes a review of the analytical results of the 2025 drilling program.

The 2026 gravity survey will employ a Scintrex CG6 Autograve instrument to collect subsurface readings within a virtual grid established by a Trimble R12i GNSS global positioning system receiver. Ground penetrating radar will be used to map ice thickness and to profile lake bottoms for better interpretation of the data collected on frozen lakes.

Management cautions that historical results collected and reported by operators unrelated to Greenridge have not been verified nor confirmed by its qualified person; however, the historical results create a scientific basis for continuing work at the property. Management further cautions that published historical results and discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on the property.

About Greenridge Exploration Inc.

Greenridge is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration and development of critical mineral projects in Canada. The company owns or has interests in 21 projects and additional claims covering approximately 229,658 hectares with considerable exposure to potential uranium, gold, nickel and copper discoveries. The company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.

Greenridge has one of the largest uranium property portfolios in Canada consisting of 12 projects and additional prospective claims covering approximately 153,805 hectares. The company has opportunities to realize value in a further nine strategic metal projects, which include, gold, nickel, copper and cobalt exploration properties totalling approximately 75,853 hectares. Project highlights include:

• The Black Lake uranium project, located in the northeastern Athabasca basin, (40 per cent Greenridge, 50.43 per cent Uranium Energy Corp. and 8.57 per cent Orano Canada) saw a 2004 discovery hole (BL-18) return 0.69 per cent triuranium octoxide over 4.4 metres.
• The Hook-Carter uranium project (20 per cent Greenridge and 80 per cent Denison Mines Corp.) is strategically located in the southwestern margin of the Athabasca basin, sitting approximately 13 kilometres from NexGen Energy Ltd.'s Arrow deposit and approxiomately 20 km from Paladin Energy's Triple R deposit. The Gibbons Creek uranium project hosts high-grade uraniferous boulders located in 2013, with grades of up to 4.28 per cent U3O8, and the McKenzie Lake project saw a 2023 prospecting program return three samples which included 844 parts per million total uranium (0.101 per cent U3O8), 273 ppm U-total and 259 ppm U-total.
• The Nut Lake uranium project located in the Thelon basin includes historical drilling which intersected up to nine feet of 0.69 per cent U3O8 including 4.90 per cent U3O8 over one feet from an eight-foot depth. In 2024, Greenridge's prospecting program located a float sample that returned 31.13 per cent U3O8, sourced from the Tundra showing.
• The Firebird nickel project has seen two drill programs (seven holes totalling 1,339 m), where hole FN20-002 intersected 23.8 m of 0.36 per cent Ni and 0.09 per cent Cu, including 10.6 m of 0.55 per cent Ni and 0.14 per cent Cu.

The company has strategic partnerships, which include properties being operated and advanced by Denison Mines and Uranium Energy. The company's management team, board of directors and technical team bring significant expertise in capital raising and advancing mining projects, and are poised to attract new investors and raise future capital.

We seek Safe Harbor.