Greenridge Exploration Announces Flow-Through Financing

Press Release

December 1, 2025

Vancouver, B.C. – Greenridge Exploration Inc. (“Greenridge”or the“Company”)(CSE: GXP | FRA: HW3 | OTCQB: GXPLF),is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$2,000,000.1 from the sale of up to 5,714,286 flow-through Units of the Company (each, a “FT UNIT”) at a price of C$0.35 per FT Unit. The Company intends to use the proceeds from the Offering towards exploration on the Company’s project portfolio.

Each FT Unit will consist of one (1) common share of the Company (each, a “Common Share”) to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one (1) Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (each, a “Warrant Share”) at a price of C$0.40 for a period of 24 months from the date of issuance.

The Company may pay finder’s fees to third parties sourced by finders. The FT Units will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under National Instrument 45 – 106 – Prospectus Exemptions in all the provinces of Canada. The securities issuable pursuant to the sale of the FT Units will be subject to a statutory hold period in Canada ending on the date that is four months plus one day following the closing date of the Offering.

The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to the Company’s projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2025.

The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange.

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 21 projects and additional claims covering approximately 281,100 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 13 projects and additional prospective claims covering approximately 194,350 hectares. The Company has opportunities to realize value in a further 8 strategic metals projects which include lithium, nickel, gold, and copper exploration properties totalling approximately 86,750 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.¹
• 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 its newly-discovered Patterson Corridor East, 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% U₃O₈², and the McKenzie Lake project saw a 2023 prospecting program return three anomalous rock samples, which included analytical values of 844 ppm U-total (0.101% U₃O₈), 273 ppm U-total, and 259 ppm U-total.³
• The Nut Lake property located in the Thelon Basin includes historical drilling which intersected up to 9 ft of 0.69% U₃O₈ including 4.90% U₃O₈ over 1 ft from 8ft depth.⁴  In 2024, Greenridge’s prospecting program located a float sample that returned 31.13% U₃O₈, sourced from the Tundra Showing.⁵
• 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.⁶
• The Electra Nickel project 2022 drill program included results of 2,040 ppm Ni over 1 m and 1,260 ppm Ni over 3.5 m.⁷

The Company is involved with strategic partnerships, which include uranium projects 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 – Black Lake: UEX Corporation News Release dated October 12, 2004.
2 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014.
3 – McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023.
4 – Nut Lake: 1979 Assessment Report (Number 81075) by Pan Ocean Oil Ltd.
5 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2024.
6 – Firebird Nickel: ALX Resources Corp. New Release dated April 15, 2020.
7 – 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

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