Greenridge identifies targets at McKenzie Lake

Executive Summary

• Greenridge Exploration Inc. has released the interpretation results from a 2025 helicopter-borne time-domain electromagnetic (HTDEM) survey conducted at its McKenzie Lake uranium project in Northern Saskatchewan.
• The survey identified a major north-south fault zone and discrete conductive zones, which are interpreted as prospective settings for uranium mineralization, potentially representing graphitic or sulfidic rock packages.
• The company plans to integrate this new EM data with 2021 magnetic and radiometric surveys to guide surface exploration and ground geophysical surveys in 2026, aiming to delineate anomalous zones for future drill targeting.

Key Details

• Survey Specifications: The 2025 survey covered 365 line kilometres at 200-metre-line spacing using the proprietary Xcite HTDEM system by Axiom Exploration Group Ltd. and New Resolution Geophysics. It is the first deep-penetrating EM survey of the project area in the modern era.
• Project Location: McKenzie Lake consists of three mineral claims totaling approximately 5,766 hectares (14,242 acres), located near the eastern margin of the Athabasca basin, approximately 55 kilometres southeast of the McArthur River uranium mine.
• Geological Findings:
  • Magnetic data defined geological domains and significant fault structures with high precision.
  • Early time EM response data shows a clear conductivity trend overlapping a magnetic low and a major regional fault.
  • Two anomalous conductivity zones intersecting the north-south-trending fault suggest the presence of graphitic or sulfidic rock packages, characteristic of prospective uranium settings in the Athabasca basin.
• Historical Context & Previous Results:
  • A 2021 prospecting program discovered a large, angular uranium-bearing boulder with values up to 0.101 per cent U3O8.
  • The company holds an active exploration permit valid to March 31, 2027.
• Future Plans:
  • Ground geophysical surveys are recommended by Convolutions Geoscience Inc. to characterize conductivity associated with the regional fault structure.
  • Goal is to delineate boundaries of anomalous zones for future drill targeting.
  • Potential for discovering additional radioactive boulders and anomalies in surficial soils/sediments to trace up-ice sources for uranium mineralization.
• Regional Significance: The project is located in the Wollaston domain basement rocks, hosting prolific mines like Key Lake, McArthur River, Cigar Lake, and Rabbit Lake. Recent nearby discoveries include Atha Energy Corp.'s Gemini project and Geiger Energy Corp.'s Ackio zone.

Notable Quotes

• "The results we have obtained this year from the McKenzie Lake airborne survey are yet another example of finding new target areas from the use of modern exploration tools. Layering the new EM data with other recent prospecting and radiometric results will greatly assist our future exploration efforts at the project." — Russell Starr, Chief Executive Officer