Mr. Russell Starr reports

GREENRIDGE ARRANGES $3.0 MILLION PRIVATE PLACEMENT WITH INTERNATIONAL ENERGY PARTNER TO ACCELERATE PROJECT EXPLORATION

Greenridge Exploration Inc. has arranged a non-brokered private placement with a leading conglomerate from a Southeast Asian nation. The corporate investor is a well-established entity with extensive interests and expertise in the global energy sector and will acquire approximately a 17.17-per-cent non-diluted ownership in the company, based on the current share structure, through an initial investment of $3.0-million for 13,111,888 units at 22.88 cents per unit.

As part of the offering, the company and the corporate investor anticipate entering into a sale and purchase agreement pursuant to a standard investment licence application in the area of origin of the corporate investor. The agreement is expected to provide the corporate investor with the right to participate in future financings of the company on a pro rata basis, as well as certain board observer rights, contingent on the corporate investor maintaining ownership of at least 5 per cent of the outstanding shares of the company.

"We're pleased to welcome this global energy partner as a strategic investor in Greenridge," said Russell Starr, chief executive officer of Greenridge Exploration. "This $3.0-million private placement reflects the confidence that this leading South Asian conglomerate has placed in our team and our portfolio of mineral projects. The proceeds are expected to accelerate our exploration programs, and we look forward to advancing our projects as we work toward our next milestones."

Each unit of the offering to the corporate investor will comprise one common share in the capital of the company and one-half of one share purchase warrant. Each full warrant will entitle the corporate investor to acquire one additional share at a price of 34 cents for 36 months from closing of the offering.

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 numbeer of conditions, including receipt of all necessary corporate, regulatory approvals and shareholder approvals (as applicable), including the Canadian Securities Exchange (the CSE).

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

About Greenridge Exploration Inc.

Greenridge Exploration 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, and nickel, copper and cobalt exploration properties totalling approximately 74,666 hectares.

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