Greenridge Exploration Announces Entry into Option Agreement with Thunder Gold Corp. for the Electra Nickel Project

VANCOUVER, British Columbia, April 14, 2026 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. ("Greenridge" or the "Company") (CSE: GXP | OTC: GXPLF | FRA: HW3) is pleased to announce that the Company has entered into an option agreement dated April 10, 2026 through its wholly-owned subsidiary ALX Resources Corp. (the “Agreement”) with Thunder Gold Corp. (TSXV: TGOL) (“Thunder Gold”) whereby Thunder Gold can earn a hundred percent (100%) interest in the Company’s 4,571 hectare Electra Nickel property (“Electra”). Electra is located contiguous to Thunder Gold’s Tower Mountain Property near Thunder Bay, Ontario.

Pursuant to the Agreement, Thunder Gold can earn a hundred percent (100%) interest in Electra by paying the Company a total of CAD$175,000 cash and issuing a total of 1,000,000 common shares in the capital of Thunder Gold to the Company over a 24-month term (the “Disposition”).

The Agreement is subject to acceptance by the TSX Venture Exchange and the Canadian Securities Exchange.

Terms of the Agreement

Total cash payments in the aggregate amount of $175,000 (the “Cash Payments”) to be paid over two (2) years as follows:

• $50,000 upon execution of the Agreement (the “Effective Date”);
• $50,000 on or before the 12-month anniversary of the Effective Date; and
• $75,000 on or before the 24-month anniversary of the Effective Date.
  
  

Total share issuance of an aggregate 1,000,000 common shares (the “Share Issuances”) in the capital of Thunder Gold as follows:

• 200,000 common shares on the Effective Date;
• 300,000 common shares on or before the 12-month anniversary of the Effective Date; and
• 500,000 common shares on or before the 24-month anniversary of the Effective Date.
  
  

There are no minimum expenditures required in any given year, and Thunder Gold has the right to cease making the Cash Payments or Share Issuances at any time, resulting in it earning no interest in Electra. Electra is subject to a 2.5% net smelter returns royalty (“NSR”) payable to an Ontario vendor group (the “Vendors”) on the sale of valuable minerals from Electra. At any time, Greenridge shall have the right to purchase from the Vendors up to 1.5% of the NSR in 0.5% increments for $500,000 per 0.5% increment. All securities issued in connection with the Agreement will be subject to a statutory hold period of four months and one day. No finders' fees were paid on this arm's length Agreement.

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 23 projects and additional claims covering approximately 251,139 hectares with considerable exposure to potential uranium, gold, nickel, and copper 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 175,286 hectares. The Company has opportunities to realize value in a further 9 strategic metals projects which include, gold, nickel, and copper exploration properties totalling approximately 75,799 hectares. Property highlights include:

• The Black Lake Uranium Project, located in the NE Athabasca Basin, (40% Greenridge, 50.43% Uranium Energy Corp., 8.57% Orano Canada) saw a 2004 discovery hole (BL-18) return 0.69% U₃O₈ over 4.4m.¹
• The Hook-Carter Uranium Project (20% Greenridge, 80% Denison Mines Corp.) is strategically located in the southwest Margin of the Athabasca Basin, sitting ~13km from NexGen Energy Ltd.’s Arrow deposit and ~20 km from Paladin Energy’s Triple R deposit.
• The Gibbons Creek Uranium Project hosts high-grade uraniferous boulders located in 2013, with grades of up to 4.28% U₃O₈ ², 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.³
• The Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9 ft of 0.69% U₃O₈ including 4.90% U₃O₈ over 1ft from 8 ft 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 Project 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 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 – 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.

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 regarding the terms of the Disposition and completion of the Disposition. 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.