Mr. Simon Tso reports

EARLY WARNING REPORT FILED

This news release is being disseminated as required by National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the filing of the early warning report regarding the acquisition of securities of Greenridge Exploration Inc. by James Russell Starr (the acquiror). The common shares of the company trade on the Canadian Securities Exchange under the symbol GXP.

On Dec. 22, 2025, the acquiror purchased two million units of the company through the company's closing of its private placement financing of 35 cents flow-through units for aggregate consideration of $700,000. Each unit consisted of one common share of the company issued on a flow-through basis under the Income Tax Act (Canada) and one common share purchase warrant of the company, with each warrant entitling the holder to acquire one additional common share at an exercise price of 40 cents for a period of 24 months from the closing date.

Immediately prior to closing the financing, the acquiror had beneficial ownership, or exercised control or direction, both directly and indirectly over: (a) 5,536,624 common shares; (b) 405,163 warrants to purchase common shares; (c) 700,000 vested stock options; and (d) 125,000 vested restricted share units (RSUs) and 125,000 RSUs that will vest within 60 days, representing approximately 9.87 per cent of the outstanding common shares of the company on an undiluted basis and 12.37 per cent of the outstanding common shares of the company on a partially diluted basis.

After giving effect to the market purchase, the acquiror now has beneficial ownership or exercises direction or control over, directly and indirectly: (a) 7,176,058 common shares; (b) 2,405,163 warrants to purchase common shares; (c) 700,000 vested stock options; and (d) 125,000 vested RSUs and 125,000 RSUs that will vest within 60 days, representing approximately 12.17 per cent of the outstanding common shares of the company on an undiluted basis and 17.67 per cent of the outstanding common shares of the company on a partially diluted basis.

The common shares are held by the acquiror for investment purposes. The acquiror currently has no plans or intentions that relate to or would result in any of the items listed in items 5(a) to 5(k) of the report. However, depending on market conditions, general economic and industry conditions, trading prices of the company's securities, the company's business, financial condition and prospects and/or other relevant factors, the acquiror may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or may continue to hold the common shares or other securities of the company.

A copy of the report to be filed by the acquiror, will be available on SEDAR+ under the company's profile.

For more information, or to obtain copies of the report, please contact Simon Tso, chief financial officer, at Info@greenridge-exploration.com or 778-897-3388. The company's head office is located at Suite 250, 997 Seymour St., Vancouver, B.C., V6B 3M1. The acquiror's address is 57 St. Lawrence St., Collingwood, Ont., L9Y 4Y3.