Greenridge Exploration Announces Results of Summer 2025 Drilling at the Carpenter Lake Uranium Project, Athabasca Basin Area

Executive Summary

• Greenridge completed eight NQ drill holes totaling 1,368 m at the Carpenter Lake uranium prospect, intersecting graphitic pelitic gneisses with anomalous uranium‑related geochemistry and elevated radioactivity.
• Significant structural features (graphitic‑sulphidic shear zones, breccias, fault gouge) and boron‑rich dravite alteration were identified, supporting the presence of uranium‑bearing fluids along the Cable Bay Shear Zone.
• The results expand known favorable lithology southward and guide follow‑up work, including a 1,000‑station ground gravity survey and further geophysical modelling.

Key Details

• Drilling Overview
• 8 holes completed; total core length = 1,368 m (NQ size).

• Two holes lost before target depth due to technical issues.

• Key Intercepts & Observations

• Graphitic pelitic gneisses hosting sulphides with anomalous pathfinder elements (U, As, Ni, Cu, Co, Pb, Zn).
• Downhole gamma probe detected intervals of elevated radioactivity in 3 holes, associated with favorable structures and rock types.

• SWIR spectroscopy identified dravite (boron‑rich clay) alteration; laboratory analysis confirmed anomalous boron concentrations.

• Structural Highlights

• Multiple holes intersected stacked graphitic‑sulphidic shear and fault zones showing brittle reactivation (breccias, cataclasites, fault gouge).

• Structural breaks, cross‑cutting features, and EM conductors identified as primary targets for future drilling.

• Drill Hole Data (selected)

• CL25‑001: 108 m depth; RL = 497.3 m; dip −45°, az 120°.
• CL25‑002: 186 m depth; RL = 499.9 m; dip −45°, az 300°.
• CL25‑003: 255 m depth; RL = 511.2 m; dip −45°, az 300°.
• CL25‑004A: 180 m depth; RL = 508.0 m; dip −55°, az 300°.

• CL25‑005A: 249 m depth; RL = 515.7 m; dip −50°, az 300° (notable anomalous interval at 71.8–75.8 m).

• Future Exploration Plans

• Commissioning of a ~1,000‑point ground gravity survey across the CBSZ EM conductors.

• Ongoing comprehensive geophysical inversions and lithostructural modelling to refine target definition.

• Community & Environmental Note

• Helicopter‑assisted drilling minimized environmental impact; continued engagement agreements with English River First Nation and Kineepik Metis Local #9 for monitoring, cultural management, and employment opportunities.

Notable Quotes

“Our inaugural drilling program at Carpenter Lake successfully tested the targets available to us in the summer exploration season… and has presented invaluable geological information that will direct our future work on the Project.” – Russell Starr, CEO

Materiality Assessment: Non‑Material – Positive (exploratory results are encouraging but do not yet constitute a material development for shareholders).