Greenridge Expands Exploration at Saskatchewan Uranium Project

VANCOUVER, British Columbia, Sept. 24, 2026 /CourierPR/ -- Greenridge Exploration Inc. has announced the completion of a 2026 summer exploration program at the Hook-Carter Uranium Project in Saskatchewan, Canada. The project, which is owned 25% by Greenridge and 75% by Denison Mines Corp., is currently being operated by Denison Mines Corp. The summer exploration program involved Greenridge carrying out thirteen (13) lines of Fixed Loop Electromagnetic (“FLEM”) surveying totaling 15.85 line-kilometres on two (2) ground loops, with readings taken at fifty (50) metre station spacings on the Derkson Corridor, where summer ground conditions allowed access to the area of interest. Concurrent with the FLEM survey, a geochemical sampling crew collected four hundred twenty-nine (429) soil samples at fifty (50) metre intervals on thirteen (13) lines over the 19.5 line-km Derkson Corridor grid. The soil samples were submitted to Activation Laboratories Ltd. in Ancaster, Ontario for ICP-OES and ICP-MS analyses by 4-acid digestion and INAA, and for spatiotemporal geochemical hydrocarbons (“SGH”) soil analysis.

The exploration program also included a light detection and ranging (“LiDAR”) survey flown over the PLC and Derkson Corridors using an exSWARM LiDAR high resolution Digital Elevation Model survey with 0.5 metre cells over a 44 km2 area. This LiDAR survey will provide precise, three-dimensional information about the surface of the Project, which can assist to outline structural features such as the muted expression of strike-slip faults, linear rifts, and depressions.

The Derkson Corridor, which was the site of a uranium discovery in 1978, is considered highly prospective for hosting uranium mineralization. In 1978, drill hole DER-04 intersected 0.24% U3O8 over 2.5 metres from 120.5 to 122.5 metres, approximately 4.25 kilometres to the south of the current boundary of the Project. A 2004 study of historical Derkson Corridor drill core by UEM Inc., a joint venture company held by Cameco Corporation and a predecessor of Orano Canada, concluded that the northern extent of the Derkson Corridor could be highly-prospective for hosting uranium mineralization. The site of drill hole DER-23, which is the most northerly of the DER holes, lies approximately 2.75 kilometres south of the current Hook-Carter property boundary.

The Hook-Carter Uranium Project is strategically located in the southwest Margin of the Athabasca Basin, approximately 13 kilometers from NexGen Energy Ltd.’s Arrow deposit and 20 kilometers from Paladin Energy’s Triple R deposit. The Project also overlies the interpreted strike extensions of the Carter and Derkson corridors, each of which represents highly prospective and under-explored structural corridors.

The Hook-Carter Joint Venture Agreement was formed in October 2016, when ALX Resources Corp. sold an 80% interest in the Project in exchange for 7.5 million common shares in the capital of Denison. ALX retained a 20% interest in Hook-Carter, and Denison agreed to fund ALX’s share of the first $12.0 million of expenditures. In November 2019, ALX and Denison executed a written acknowledgement with respect to the deemed formation of a joint venture between them upon Denison’s completion of a requirement to solely fund a minimum of $3.0 million of project expenditures within an initial 36-month funding period. From 2016 to 2023, Denison’s exploration expenditures at Hook-Carter totaled approximately $7.08 million, including the completion of surface and airborne geophysical programs, as well as nearly 12,000 metres of diamond drilling.

In May 2024, the Hook-Carter joint venture was amended whereby ALX could increase its ownership interest in the Project from 20% to 25% by funding the next $3.0 million of exploration at the Project by November 2026. On December 30, 2024, ALX was acquired by Greenridge by way of a court-approved Plan of Arrangement and Greenridge assumed ALX’s ownership interest and its funding obligations in the amended Hook-Carter joint venture. During the 1st Quarter and 2nd Quarter 2026, Greenridge met the $3.0 million expenditure and has increased its cumulative ownership percentage in the Hook-Carter joint venture to 25%.

The 2026 summer exploration Program was based from a permitted temporary work camp located on the Project. Denison, as operator of exploration, is committed to collaborating with Indigenous peoples and communities to build long-term, respectful, trusting, and mutually beneficial relationships and aspires to avoid any adverse impacts of Denison’s activities and operations, which intentions are expressed in Denison’s Indigenous Peoples Policy.