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About Greenridge Exploration Inc.
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Greenridge Exploration Inc. (CSE: GXP | OTCQB: GXPLF | FRA: HW3) 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 281,100 hectares with considerable exposure to potential uranium, lithium, nickel, copper and gold discoveries. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.
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Greenridge has one of the largest uranium property portfolios in Canada consisting of 13 projects and additional prospective claims covering approximately 194,350 hectares. The Company has opportunities to realize value in a further 8 strategic metals projects which include lithium, nickel, gold, and copper exploration properties totalling approximately 86,750 hectares. Project highlights include:
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- The Black Lake property, located in the NE Athabasca Basin, (40% Greenridge, 50.43% UEC, 8.57% Orano Canada) saw a 2004 discovery hole (BL-18) return 0.69% U3O8 over 4.4m.6
- The Hook-Carter property (20% Greenridge, 80% Denison Mines Corp.) is strategically located in the SW Margin of the Athabasca Basin, sitting ~13km from NexGen Energy Ltd.’s Arrow deposit and its newly-discovered Patterson Corridor East, and ~20 km from Paladin Energy’s Ltd.’s Triple R deposit.
- The Gibbons Creek property hosts high-grade uraniferous boulders located in 2013, with grades of up to 4.28% U3O87, and the McKenzie Lake project saw a 2023 prospecting program return three anomalous rock samples, which included analytical values of 844 ppm U-total (0.101% U3O8), 273 ppm U-total, and 259 ppm U-total.8
- The Nut Lake property located in the Thelon Basin includes historical drilling which intersected up to
9 ft of 0.69% U3O8 including 4.90% U3O8 over 1 ft from 8ft depth.9 In 2024, Greenridge’s prospecting program located a float sample that returned 31.13% U3O8, sourced from the Tundra Showing.10 - The Firebird Nickel property has seen two drill programs (7 holes totaling 1,339 m), where hole FN20-002 intersected 23.8 m of 0.36% Ni and 0.09% Cu, including 10.6 m of 0.55% Ni and 0.14% Cu.11
- The Electra Nickel project 2022 drill program included results of 2,040 ppm Ni over 1 m and 1,260 ppm Ni over 3.5 m.12
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The Company is involved with strategic partnerships, which include uranium projects being operated and advanced by Denison Mines Corp. and Uranium Energy Corp. The Company’s management team, board of directors, and technical team brings significant expertise in capital raising and advancing mining projects and is poised to attract new investors and raise future capital.
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References:
1 – Saskatchewan Mineral Assessment Database (“SMAD”), Report #74P12-002, 1964.
2 – Flying Vee Nickel Project: ALX Resources Corp. News Release dated November 8, 2022.
3 – SMAD, Report #74P11-0016, 2008.
4 – SMAD, Report #74O07-0021, 1968.
5 – Flying Vee Nickel Project: ALX Resources Corp. News Release dated July 27, 2020.
6 – Black Lake: UEX Corporation News Release dated October 12, 2004.
7 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014.
8 – McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023.
9 – Nut Lake: 1979 Assessment Report (Number 81075) by Pan Ocean Oil Ltd.
10 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2024.
11 – Firebird Nickel: ALX Resources Corp. New Release dated April 15, 2020.
12 – Electra Nickel: ALX Resources Corp. New Release dated July 20, 2022.
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On Behalf of the Board of Directors of Greenridge
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Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: [email protected]
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Disclaimer for Forward-Looking Information
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This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information.
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Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Greenridge, future growth potential for Greenridge and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium, nickel, copper, gold, cobalt and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Greenridge’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
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