Mr. Russell Starr reports

GREENRIDGE EXPLORATION COMPLETES ADVANCED 3D INVERSION AND LITHOLOGY MODELLING PROGRAM AT THE CARPENTER LAKE URANIUM PROJECT

Greenridge Exploration Inc. has completed an integrated 3-D multiphysics inversion and machine-learning-assisted lithology modelling program at its Carpenter Lake uranium project located along the Cable Bay shear zone on the southern margin of the Athabasca basin, Northern Saskatchewan.

The work was completed by Convolutions Geoscience Corp. in collaboration with Computational Geosciences Inc., which served as independent inversion specialists and developers of the geophysics informed lithology interpolation platform.

Russell Starr, chief executive officer of Greenridge, stated: "Combining the third party expertise of the Convolutions and CGI teams has enabled the production of a 3-D model of the Carpenter Lake geology, which is an example of our company's adoption of advanced exploration technology. The Cable Bay shear zone is a complex and highly prospective structure for hosting uranium mineralization, and the joint inversions and resulting GILI model will bolster our future drill targets across more than 15 kilometres of strike length on the project."

Integrated 3-D modelling of historical VTEM, Falcon gravity and magnetic data

The program represents the first fully integrated reinterpretation of the project's historical airborne data sets, including:

• 2014 versatile time domain electromagnetic survey;
• 2015 Falcon airborne gravity gradiometry survey (all seven tensor components); and
• High-resolution total magnetic intensity data.

CGI and Convolutions applied a modern inversion workflow incorporating:

• Parametric plate modelling of VTEM conductors;
• Cross-gradient joint inversion of gravity and electromagnetic data sets;
• 3-D lithology model generation using GILI;
• High-resolution OcTree and tensor meshes;
• Incorporation of Greenridge's 2025 drilling data and physical property and structural measurements from drill core.

This approach produced 3-D physical property models consistent with all available data and a lithology model of the CBSZ corridor, significantly advancing the structural interpretation of the project.

Parametric VTEM modelling defines steep conductive panels along the CBSZ

Initial unconstrained VTEM inversions were unable to fully resolve the steep, shear-hosted conductors known from drilling and mapping. CGI applied parametric plate inversions, modelling the CBSZ as a series of steeply dipping rectangular conductive bodies.

This method provided a data-driven estimate of:

• Strike and dip of graphitic pelite units;
• Conductivity contrasts along the shear zone; and
• Breaks, flexures and offsets consistent with structural reactivation.

These plate geometries were then used as starting models or used in cross-gradient inversions, improving the coherence and continuity of the Carpenter Lake conductive system.

Gravity modelling highlights density lows coincident with conductive shear zones

Falcon AGG data were inverted using both unconstrained and structurally guided approaches. Cross-gradient joint inversion was applied to align density contrasts with the VTEM-derived conductive structures. The company plans to complete a higher-resolution ground gravity survey across the CBSZ, which will further refine the integrated modelling and future targeting.

The resulting gravity model reveals:

• Density-low anomalies spatially coincident with conductive shear panels;
• Localized density disruptions adjacent to interpreted structural breaks; and
• Broader corridors of reduced density potentially related to hydrothermal alteration.

A secondary inversion was performed using a starting model derived from the GILI lithology output, further improving geological consistency.

GILI lithology interpolation produces a new 3-D geological framework

CGI's GILI platform integrated:

• TMI magnetic data;
• Surface geological mapping; and
• Drill hole lithology and magnetic susceptibility measurements collected in 2025.

GILI leverages proprietary artificial intelligence and physics-based inversion modelling to create highly accurate 3-D lithology models that automatically align geological data with magnetic surveys to pinpoint high-value targets with greater certainty.

The resulting 3-D lithology model distinguishes:

• Graphitic pelite horizons forming the primary conductive targets;
• Low-susceptibility intrusive and quartz-rich units;
• Moderate-susceptibility granitic gneisses; and
• High-susceptibility banded iron formations contributing to magnetic and gravity anomalies.

This model provides a consistent geological framework that ties together conductivity, density and magnetic susceptibility.

Refined targeting along more than 15 kilometres of the CBSZ

The integrated inversion results have materially improved the understanding of structural architecture along the CBSZ. Several high-priority target areas have been identified where the following ingredients all converge with a 3-D shear corridor:

• Steeply dipping conductive plates;
• Coincident density-low signatures;
• Structural breaks and offsets; and
• Favourable lithological architecture.

Many of these targets remain untested or only partially tested by historical drilling.

A modern reinterpretation unlocking new value from existing data

The program demonstrates that advanced inversion workflows and machine-learning-assisted lithology modelling can extract significant geological insight from historical airborne and drilling data sets without requiring new geophysical acquisitions. Greenridge believes this modelling approach has significantly enhanced the discovery potential at Carpenter Lake and will directly inform the design and prioritization of the company's next phase of drilling along the CBSZ.

The company and Convolutions led the geological integration and targeting strategy while CGI executed the inversion workflow and delivered the 3-D physical property and lithology models.

Statement of qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, PGeo, a geological consultant and technical adviser to the company, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Hillacre has examined information regarding the exploration at the project and has been involved in the geoscientific work outlined in this news release.

Specific geophysical information on the technologies and workflows in this news release has been reviewed and verified by Kyle Patterson, PGeo, a third party geophysical contractor to the company, a qualified person as defined in NI 43-101.

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 23 projects and additional claims covering approximately 272,849 hectares with considerable exposure to potential uranium, gold, nickel and copper 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 14 projects and additional prospective claims covering approximately 196,338 hectares. The company has opportunities to realize value in a further nine strategic metal projects which include, gold, nickel and copper exploration properties totalling approximately 76,511 hectares. Property 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 triuranium octoxide over 4.4 metres.
• The Hook-Carter uranium project (20 per cent Greenridge and 80 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 km 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 U-total and 259 ppm U-total.
• 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 feet from an eight-foot 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 m), where hole FN20-002 intersected 23.8 m of 0.36 per cent nickel and 0.09 per cent copper, including 10.6 m of 0.55 per cent Ni and 0.14 per cent Cu.

The company has strategic partnerships which include 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 are poised to attract new investors and raise future capital.

We seek Safe Harbor.