Greenridge Exploration triples Bradley Lake uranium project in Saskatchewan

VANCOUVER, British Columbia, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“ Greenridge ” or the “ Company ”) ( CSE: GXP | FRA: HW3 | OTCQB: GXPLF ), is pleased to announce it has expanded the size of its Bradley Lake Uranium Project (“ Bradley Lake ”, or the “ Project ”) by more than 300% through staking six (6) new claims (the “ Claims ”) during a recent re-opening of lands administrated by the Government of Saskatchewan. Bradley Lake now consists of seven (7) mineral claims owned 100% by Greenridge with no underlying royalties totaling 3,563 hectares (8,804 acres), located approximately thirty (30) kilometres northwest of Stony Rapids, in the northern Athabasca region of Saskatchewan.

Highlights of the Bradley Lake Claims Acquisition

The Claims were acquired via low-cost staking following the results of a remote sensing hyperspectral survey carried out by Greenridge in late 2025 that detected alteration anomalies similar to an alteration anomaly present in the area of the Bradley Lake Uranium Showings, where historical sampling in outcrop discovered uranium values of up to 3.53% U 3 O 8 . 1

In 2025, the Company received the results of a helicopter-borne time-domain electromagnetic (“ HTDEM ”) and radiometric survey carried out on Bradley Lake, which delineated a conductive feature coincident with a radiometric anomaly that is now completely covered by the expanded Claim block (Please see Figure 1).

Figure 1 – Bradley Lake: Uranium Showings, EM Conductor, and Alteration Features

Russell Starr, Chief Executive Officer of the Company stated, “The results of our 2025 exploration at Bradley Lake provided good reason for expansion of the original Project when the adjacent ground became available for staking earlier this year. We look forward to an in-depth investigation of the new Claims for surface expression of uranium similar to that already discovered at the Project.”

About the Bradley Lake Uranium Project

Bradley Lake is bisected by the Grease River Shear Zone (“ GRSZ ”), a crustal-scale structural feature that defines the western edge of the Tantato Domain in northern Saskatchewan, and is believed to be structurally associated with the Fond du Lac uranium deposit located thirty-four (34) kilometres to the southwest of the Project. The Project hosts the Bradley West and Bradley East uranium showings, with uranium grades in historical outcrop samples returning grades up to 3.53% U 3 O 8 , found within perpendicular-to-strike fractures in a sequence of coarse-grained to pegmatitic feldspar-quartz ± biotite dykes and/or sheets. These dykes and/or sheets are in sharp contact, parallel-to-foliation, with intensely sheared, pelitic metasedimentary rocks along the southern edge of the GRSZ. 1

The Project has received intermittent exploration since 1968, when radioactive occurrences were first detected in an airborne radiometric survey. 2 In 1978, a radioactive outcrop was discovered on the Project by Saskatchewan Mining and Development Corporation, a predecessor company of Cameco Corporation. In 2007, a magnetic-radiometric-VLF airborne survey was flown over Bradley Lake, which detected an approximate 700-metre-long uranium radiometric anomaly that corresponds to a portion of the known mineralized zones on surface. 3

Two shallow “scissor” holes were drilled in 2011 from one collar location to undercut the presumed sub-surface strike of the Bradley Lake showing at shallow depths, from which the highest-grade interval was a modest 0.047% U 3 O 8 over 0.3 metres from 23.3 to 23.6 metres. 4 The two (2) 2011 holes, totaling only 123.4 metres, targeted the showing area and not any conductors detected by historical electromagnetic (“ EM ”) surveys, which had limited capability to detect deeper targets that may exist beneath the uranium showings on surface.

Highlights of Greenridge’s Exploration at Bradley Lake

In 2022, ALX Resources Corp. (a company fully acquired by Greenridge in December 2024) visited the Bradley Lake showings and at Bradley West mapped sixty (60) metres of a northeast-southwest trending structure at surface, hosting multiple radioactive occurrences along its length. Four (4) samples were collected from radioactive outcrop along the Bradley West and East showings that returned geochemical values ranging from 0.08% to 1.77% U 3 O 8 . 5

Greenridge’s 2025 high-resolution Xcite TM airborne electromagnetic survey by Axiom Exploration Group Ltd. represented a definitive test of the potential for the Project to host deep-seated, conductive corridors that could be prospective for hosting uranium mineralization. In addition, radiometric data was collected to detect any radioactive anomalies coincident with the surface trace of known uranium-bearing zones.

A large zone of anomalous radioactivity near the southern edge of the 2025 Xcite TM survey area, striking northeast-southwest, approximately subparallel to the interpreted EM conductor and faults in the area. This is further evidence for the prospectivity of the southern edge of the Project, where coinciding anomalies in the EM, magnetic, and radiometric data suggest a desirable target for further exploration.

Greenridge believes that the full potential of the Bradley Lake showing has not yet been realized. The Bradley West and East showings convey two different styles of uranium mineralization: pitchblende veinlets hosted by pegmatites and potentially much more significant shear zone hosted uranium. Both styles of mineralization display a high uranium-thorium ratio indicative of hydrothermal processes related to structural/hydrothermal emplacement rather than a magmatic origin (Daubeny, 2009). 6 Greenridge continues to integrate the results of the 2025 HTDEM survey with historical geological and geophysical data to better delineate the footprint of known mineralized zones at Bradley Lake.

The Company holds an active exploration permit for surface prospecting and sampling, airborne and ground geophysics, valid to May 31, 2027.

Statement of Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, P. Geo., Technical Advisor, a geological consultant to the Company and a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Hillacre has examined information regarding the recent and historical exploration at the Project, which includes a review of the historical sampling, analytical and procedures underlying the information and opinions contained herein.

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 ongoing work at the Project. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Project.

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, and nickel, copper and cobalt exploration properties totalling approximately 74,666 hectares. Project highlights include:

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% U 3 O 8 over 4.4m. 7

The Hook-Carter property (25% Greenridge, 75% Denison Mines Corp.) is strategically located in the SW Margin of the Athabasca Basin, sitting ~13km from NexGen Energy Ltd.’s Arrow deposit 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% U 3 O 8 8 , and the McKenzie Lake project saw a 2023 prospecting program return three samples which included 844 ppm U-total (0.101% U 3 O 8 ), 273 ppm U-total, and 259 ppm U-total. 9

The Nut Lake property located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U 3 O 8 including 4.90% U 3 O 8 over 1ft from 8ft depth. 10 In 2024, Greenridge’s prospecting program located a float sample that returned 31.13% U 3 O 8 , sourced from the Tundra Showing. 11

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. 12

The Electra Nickel project 2022 drill program included results of 2,040 ppm Ni over 1m and 1,260 ppm Ni over 3.5m. 13

The Company has strategic partnerships which includes properties 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.

References:

1 – Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O09-0023. 2 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O07-0021. 3 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O09-0023, Appendix IV. 4 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O08-0076. 5 – Bradley Lake: ALX Resources Corp.: News Release dated May 16, 2023. 6 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O08-0076. 7 – Black Lake: UEX Corporation News Release dated October 12, 2004. 8 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014. 9 – McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023. 10 – Nut Lake: 1979 Assessment Report (number 81075) by Pan Ocean Oil Ltd. 11 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2024. 12 – Firebird Nickel: ALX Resources Corp. New Release dated April 15, 2020. 13 – Electra Nickel: ALX Resources Corp. New Release dated July 20, 2022.

On Behalf of the Board of Directors of Greenridge

Russell Starr Chief Executive Officer, Director Telephone: +1 (778) 897-3388 Email: info@greenridge-exploration.com

Disclaimer for Forward-Looking Information

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.

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.

This news release contains “forward-looking information” within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; further exploration work on the Project in the future; and the expected benefits of acquiring the Claims. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of uranium, nickel, copper, gold, cobalt and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/69ead11c-eee7-4304-b409-55108686fe5c

Globe Newswire

August 6, 2026 - 5:00 AM PDT

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