Greenridge Exploration Completes Airborne Electromagnetic Survey on the Bradley Lake Uranium Project in Northern Saskatchewan

VANCOUVER, British Columbia, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3 | OTCQB: GXPLF), is pleased to announce it has completed a helicopter-borne time-domain electromagnetic (“HTDEM”) survey (the "Survey") on the Bradley Lake Uranium Project (“Bradley Lake”, or the “Project”). Bradley Lake consists of a single mineral claim owned 100% by Greenridge with no underlying royalties totaling 1,147 hectares and located approximately thirty (30) kilometres northwest of Stony Rapids, SK. The Company contracted Axiom Exploration Group Ltd. of Saskatoon, Saskatchewan, Canada (“Axiom”) to perform a high-resolution Xcite™ survey across the Project, designed to refine conductive structural corridors on the Project that could be prospective for hosting uranium mineralization (Please see Figure 1).

Figure 1 – Bradley Lake Uranium Project: 2025 Airborne Survey Flightlines

Highlights of the Bradley Lake Uranium Project

• The Project hosts the Bradley West and Bradley East uranium showings, with uranium grades in historical outcrop samples ranging up to 3.53% U₃O₈.¹  
• In 2022, ALX Resources Corp. (a company acquired by Greenridge in December 2024) visited the Bradley Lake showings and at Bradley West mapped 60 metres of a northeast-southwest trending structure at surface, hosting multiple radioactive occurrences along its length. Four samples were collected from radioactive outcrop along the Bradley West and East showings that returned geochemical values ranging from 0.08% to 1.77% U₃O₈, as shown in Figure 2 below.²
• Greenridge’s 2025 survey represents a definitive test of the potential at the Project to host deep-seated, conductive corridors that were beyond the reach of historical airborne EM methods.
  
  

Russell Starr, Chief Executive Officer of the Company stated, “Bradley Lake is yet another promising uranium project in the Greenridge property portfolio that received little of the follow-up exploration that was recommended by previous explorers. We are pleased to carry out a high-resolution HTDEM survey at Bradley Lake and will integrate the 2025 results with our historical database to search for the potential sources of the high-grade uranium showings that are present on surface at the Project.”

Figure 2 - Bradley Lake Uranium Occurrences

About Bradley Lake

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 34 kilometres to the southwest of the Project. The Project has received intermittent exploration since 1968, when radioactive occurrences were first detected in an airborne radiometric survey.³ 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 (Please see Figure 2).⁴

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% U₃O₈ over 0.30 metres from 23.3 to 23.6 metres.⁵ The two 2011 holes, totaling only 123.4 metres, targeted the showing area and not any conductors detected by historical EM surveys, which had limited capability to detect deeper targets that may exist beneath the uranium showings on surface.

Greenridge’s 2025 Exploration at Bradley Lake

Axiom, in partnership with New Resolution Geophysics, utilized its proprietary Xcite™ HTDEM system, which has proven its ability to detect conductive zones up to hundreds of metres deep. Graphitic conductors are often associated with the deposition of uranium and can be readily detected by a sophisticated airborne survey such as the Xcite™ system.

The airborne work consists of 201 line-kilometres at 100-metre line spacing to provide exceptional resolution of the electromagnetic data. In addition, radiometric data was collected to detect any radioactive anomalies coincident with the surface trace of known uranium-bearing zones and which may overlap with deeper conductive anomalies.

Greenridge believes that the full potential of the Bradley Lake showing has not yet been realized. The Bradley West and East showings area conveys two different styles of 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 a structural rather than a magmatic origin (Daubeny, 2009).⁶ Greenridge plans to integrate the results of the 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 and 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 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 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 27 projects and additional claims covering approximately 334,987 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.

Greenridge has one of the largest uranium property portfolios in Canada consisting of 16 projects and additional prospective claims covering approximately 221,509 hectares. The Company has opportunities to realize value in an additional 11 strategic metals projects which include lithium, nickel, gold, and copper exploration properties totalling approximately 113,478 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% U₃O₈ over 4.4m.⁷
• 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 ~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% U₃O₈ ⁸, and the McKenzie Lake project saw a 2023 prospecting program return three samples which included 844 ppm U-total (0.101% U₃O₈), 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% U₃O₈ including 4.90% U₃O₈ over 1ft from 8ft depth¹⁰. In 2024, Greenridge’s prospecting program located a float sample that returned 31.13% U₃O₈, 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 – Bradley Lake: ALX Resources Corp.: News Release dated May 16, 2023.
3 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O07-0021.
4 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O09-0023, Appendix IV.
5 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O08-0076.
6 - Saskatchewan Mineral Assessment Database (“SMAD”), Report #74O09-0023.
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 expected benefits of the Survey. 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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/5689cf76-d062-4758-887e-f74fd0e9a3f0

https://www.globenewswire.com/NewsRoom/AttachmentNg/d329e6c7-26e7-4c8b-8cd0-d4cf9dc9fa7b

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.