Mr. Russell Starr reports

GREENRIDGE ANNOUNCES SIGNING OF SALE AND PURCHASE AGREEMENT WITH LEADING SOUTHEAST ASIAN INVESTOR FOR $3.0 MILLION PRIVATE PLACEMENT

Greenridge Exploration Inc. has provided an update on the $3-million financing first reported on July 20, 2026, with a leading Southeast Asian conglomerate that has extensive interests in the global energy sector (the corporate investor). On July 30, 2026, the company executed a sale and purchase agreement (SPA) with the corporate investor in connection with the offering and remains on track to close the offering in Q3 2026 following the completion of customary corporate and regulatory approvals.

The offering comprises 13,111,888 units at a price of 22.88 cents per unit, with each unit consisting of one common share and one-half of one common share purchase warrant, with each full warrant exercisable at 34 cents for a period of 36 months, subject to an accelerated expiry provision. Under the acceleration provision, if the volume-weighted average trading price of the company's common shares is 50 cents or higher for 10 consecutive trading days (the triggering event), the exercise period of the warrants may be reduced to 60 days at the company's discretion by issuance of a news release within seven days of the triggering event.

All securities issued in connection with the offering will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation. If the triggering event occurs while the warrants remain subject to the statutory four-month-and-one-day hold period, the company may, at its sole discretion, choose to accelerate the exercise period subsequent to the expiration of such hold period. Any warrants not exercised before the end of this 60-day period will expire and be void.

As part of the offering, the company and the corporate investor anticipate entering into an investor rights agreement, whereby the agreement provides the corporate investor with the right to participate in future financings of the company on a pro rata basis and provides certain board nomination rights, contingent on the corporate investor maintaining at least 5-per-cent ownership of the issued and outstanding shares of the company. At closing of the offering, the corporate investor will hold an approximate 17.17-per-cent share ownership in the company on a non-diluted basis.

Use of proceeds of the offering and corporate and regulatory approvals

The company intends to use the net proceeds of the offering for working capital and general corporate purposes. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including the final approval of the Canadian Securities Exchange.

There are no finders' fees payable with respect to this offering.

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 22 projects and additional claims covering approximately 242,239 hectares with considerable exposure to potential uranium, gold and nickel 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 13 projects and additional prospective claims covering approximately 167,573 hectares. The company has opportunities to realize value in a further nine strategic metals projects, which include gold, nickel, copper and cobalt exploration properties totalling approximately 74,666 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 U3O8 (triuranium octoxide) over 4.4 metres.
• The Hook-Carter uranium project (25 per cent Greenridge, 75 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 approximately 20 kilometres 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 total U and 259 ppm total U.
• 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 foot from eight feet 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 metres), where hole FN20-002 intersected 23.8 metres of 0.36 per cent Ni and 0.09 per cent Cu, including 10.6 metres of 0.55 per cent Ni and 0.14 per cent Cu.

The company has strategic partnerships, which include uranium exploration 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 the company is poised to attract new investors and raise future capital.

We seek Safe Harbor.