Mr. Russell Starr reports

GREENRIDGE EXPLORATION FULLY EXERCISES OPTION FOR 100 PER CENT INTEREST IN THE CARPENTER LAKE URANIUM PROJECT IN ATHABASCA BASIN, SASKATCHEWAN

Greenridge Exploration Inc. has fulfilled all the obligations of its property option agreement to earn a 100-per-cent legal and beneficial interest in the Carpenter Lake uranium project, located on the southern margin of the Athabasca basin in Northern Saskatchewan, Canada. Greenridge entered into the agreement in May, 2024, with ALX Resources Corp. and Renegade Gold Inc., and has since carried out systematic exploration at the project, including diamond drilling, in 2024, 2025 and 2026.

Highlights of the Carpenter Lake uranium project

• Carpenter Lake comprises 12 mineral claims covering approximately 18,680 hectares of prospective ground that straddles the southern margin of the Athabasca basin supergroup sandstones and cover more than 15 kilometres of the Cable Bay shear zone (the CBSZ) -- a prominent crustal-scale geological structure trending northeast-southwest that is largely underexplored for uranium deposits.
• Drilling by Greenridge in the fall of 2025 intersected prospective lithologies for hosting uranium mineralization, namely graphitic-sulphidic pelitic gneisses, with anomalous pathfinder geochemistry including uranium, arsenic, nickel, copper, cobalt, lead and zinc. Drilling also intersected dravite alteration, a pathfinder clay mineral containing boron, which is often found near Athabasca uranium mineralizing systems (please see Greenridge's news release dated Jan. 22, 2026).
• In January, 2026, Greenridge added three new claims to the southwestern side of the project after recognizing two historical holes drilled in 1980 were located on open ground close to the western project boundary. The two historical holes each intersected anomalous uranium, namely 0.023 per cent U3O8 (triuranium octoxide) and 0.037 per cent U3O8 at 41.1 and 43.3 metres, respectively, in hole E-80-1, and 0.058 per cent U3O8 at 42.6 metres in hole E-80-2. Anomalous copper and nickel values were also intersected in both historical drill holes.
• A gravity survey was carried out by the company in April, 2026, to provide better detail of the northern target areas at the project, with results pending.

Russell Starr, chief executive officer of the company, commented: "Greenridge has earned a 100-per-cent interest in a highly prospective uranium property located in the world's richest uranium district. Only 12 holes have been drilled within the project area, and of those, only eight holes have been drilled by Greenridge in the modern era of uranium exploration, leaving the project very much underexplored."

Option agreement details

On May 29, 2024, the company entered into the agreement to acquire the option from the optionors to earn a 100-per-cent interest in the project through a combination of cash payments, common share issuances and incurrence of exploration expenditures, as follows:

• Paying the optionors an aggregate of $200,000 in cash (paid);
• Issuing to ALX an aggregate of 300,000 common shares in May, 2024, prior to its acquisition via plan of arrangement by Greenridge, and issuing 600,000 common shares to Renegade in three tranches in 2024, 2025 and 2026 respectively (issued);
• Incurring a minimum of $1-million in exploration expenditures on the project (incurred).

Pursuant to the agreement, the third and final tranche of 200,000 common shares issued to Renegade on May 29, 2026, was subject to resale restrictions, with the common shares released over a 12-month period. The project is subject to a 2-per-cent net smelter returns royalty to previous vendors. No finders' fees were paid on this arm's-length agreement.

About Carpenter Lake and the Cable Bay shear zone

Carpenter Lake comprises 12 mineral claims covering approximately 18,680 hectares that straddle the southern margin of the Athabasca basin and cover more than 15 kilometres of the CBSZ -- a prominent crustal-scale geological structure trending northeast-southwest that is prospective for uranium deposits and considered to be underexplored.

The CBSZ is characterized by a well-defined conductive signature, radiometric anomalies and numerous historically mapped uranium occurrences.

In April, 2026, the company carried out a ground gravity survey at Carpenter Lake. Well-known basement-hosted and unconformity-type uranium deposits in the Athabasca basin region commonly exhibit a gravity low signature -- an indicator of potential clay-altered zones associated with uranium mineralization due to hydrothermal alteration reducing the host rock density. Examples of significant uranium mineralization within density-low anomalies include NexGen Energy's Arrow deposit and Paladin Energy's Triple R deposit in the southwestern Athabasca basin. Results from the 2026 gravity survey are pending.

National Instrument 43-101 technical report

On March 17, 2026, Greenridge announced its filing of a technical report for Carpenter Lake dated Jan. 15, 2026, with an effective date of Jan. 25, 2026, entitled "Technical Report For The Carpenter Lake Property, South Central Athabasca Basin, Northern Saskatchewan, Canada" prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The report does not contain a mineral resource estimate in accordance with NI 43-101 but describes in detail historical work by previous operators and the exploration carried out by the company at the project in 2024 and 2025. The report was authored by independent qualified person Kenneth Wheatley, PGeo, MSc, of Rock U Consulting. The report is available on SEDAR+ and is published on Greenridge's website.

Community engagement at Carpenter Lake

In 2024, Greenridge executed exploration agreements with the English River First Nation (ERFN) and Kineepik Metis Local #9 (KML), each of whom have ancestral rights within the project area, to provide members of each community with a role in environmental monitoring, cultural management, and financial benefits from business, employment and training opportunities. Greenridge is dedicated to carrying out its exploration at Carpenter Lake within a mutually respectful and co-operative relationship with both the ERFN and KML.

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 to the company and a qualified person as defined in NI 43-101. Mr. Hillacre has examined information regarding historical exploration at the project, which includes a review of the historical exploration data and the results of the 2025 drilling program.

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 continuing work at the project. Management further cautions that published historical results and discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on the project.

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 21 projects and additional claims covering approximately 229,658 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 12 projects and additional prospective claims covering approximately 153,805 hectares. The company has opportunities to realize value in a further nine strategic metals projects which include, gold, nickel, copper and cobalt exploration properties totalling approximately 75,853 hectares. Project highlights include:

• The Black Lake uranium project, located in the NE Athabasca basin, (40 per cent Greenridge, 50.43 per cent Uranium Energy Corp., 8.57 per cent Orano Canada) saw a 2004 discovery hole (BL-18) return 0.69 per cent U3O8 over 4.4 m.
• The Hook-Carter uranium project (20 per cent Greenridge, 80 per cent Denison Mines Corp.) is strategically located in the southwest Margin of the Athabasca basin, sitting approximately 13 km 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 ppm U total (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 ft from eight ft 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 Ni and 0.09 per cent Cu, including 10.6 m of 0.55 per cent Ni and 0.14 per cent Cu.

The company has strategic partnerships, which include uranium exploration properties being operated and advanced by Denison Mines Corp. and Uranium Energy Corp. The company's management team, board of directors and technical team bring significant expertise in capital raising and advancing mining projects, and is poised to attract new investors and raise future capital.

We seek Safe Harbor.