Greenridge Exploration Announces Filing of NI 43-101 Technical Report for Carpenter Lake Uranium Project
MWN-AI** Summary
Greenridge Exploration Inc. announced the filing of a National Instrument 43-101 (NI 43-101) technical report for its Carpenter Lake Uranium Project in Saskatchewan, dated January 15, 2026, with an effective date of January 25, 2026. The report, prepared by independent Qualified Person Kenneth Wheatley of Rock U Consulting, details the exploration conducted at Carpenter Lake, which is comprised of twelve mineral claims totaling approximately 18,680 hectares. Greenridge holds a 60% interest in the property, with Renegade Gold Inc. holding the remaining 40%.
The report underscores the need for further exploration activities, particularly in the Cable Bay Shear Zone (CBSZ), which exhibits significant geological promise for uranium deposits. The CBSZ is characterized by a conductive signature and historical uranium occurrences, prompting a recommendation for a ground gravity survey to enhance future drilling targets.
While the technical report presents valuable insights into the project, it does not include a Mineral Resource Estimate (MRE) under NI 43-101 guidelines. Wheatley confirmed the accuracy of the technical information provided for the project's exploration efforts.
Greenridge Exploration is committed to expanding its presence in the uranium sector, with one of Canada’s largest uranium property portfolios encompassing 14 projects across approximately 196,338 hectares. The company has outlined an ambitious plan for further exploration and potential discoveries in critical minerals, including uranium, gold, nickel, and copper, bolstered by partnerships with established industry players like Denison Mines Corp. and Uranium Energy Corp.
Investors can access the full technical report on Greenridge’s website or through SEDAR+, providing a comprehensive view of the Carpenter Lake opportunity as the company progresses towards further strategic developments in the uranium market.
MWN-AI** Analysis
Greenridge Exploration Inc.'s recent filing of the NI 43-101 technical report for its Carpenter Lake Uranium Project marks a pivotal moment for the company and its stakeholders. The report highlights the potential for further exploration in the Cable Bay Shear Zone (CBSZ), an area known for its geological structures that may host uranium deposits. This recommendation for a ground gravity survey over the CBSZ indicates a strategic focus on better defining drilling targets, which could lead to enhanced resource estimates down the line.
Investors should consider the implications of the report's findings. While the absence of a Mineral Resource Estimate (MRE) might raise immediate caution, the independent verification by Kenneth Wheatley adds credibility to the company’s exploration efforts. Additionally, Greenridge's 60% ownership (with options to acquire 100%) in a prime location within the Athabasca Basin—a region renowned for rich uranium deposits—positions it favorably within the market.
With uranium demand anticipated to rise due to a global shift toward cleaner energy sources, companies like Greenridge may capitalize on increased investor interest. As uranium prices stabilize or increase, Greenridge’s exploration and potential discovery in the CBSZ are likely to attract attention and investment.
Furthermore, Greenridge's diversified project portfolio in critical minerals—such as gold, nickel, and copper—offers additional avenues for growth and risk mitigation. Given the management team's experience and existing strategic partnerships, the company appears well-equipped to navigate the complexities of mineral exploration.
Potential investors should weigh the evolving landscape of the uranium market alongside Greenridge's strategic advancements. With ongoing exploration and a commitment to capitalizing on high-potential claims, Greenridge could represent a compelling opportunity amid increasing market interest in uranium and broader mineral exploration.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, March 17, 2026 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3 | OTCQB: GXPLF), is pleased to announce that it has filed a technical report (the “Report”) dated January 15, 2026, with an effective date of January 25, 2026, entitled “Technical Report For The Carpenter Lake Property, South Central Athabasca Basin, Northern Saskatchewan, Canada” prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) on the Carpenter Lake Uranium Project (“Carpenter Lake” or the “Project”). The Report was authored by independent Qualified Person Kenneth Wheatley, P. Geo., M.Sc., of Rock U Consulting. The Report is available on SEDAR+ at www.sedarplus.ca and is published on Greenridge’s website at www.greenridge-exploration.com.
Statement of Qualified Person
All scientific and technical information contained in the Report summarizing the work completed to date on the Project has been reviewed and approved by Kenneth Wheatley, P.Geo, M.Sc., an independent Qualified Person (“QP”) under the definitions established by NI 43-101. The Report does not contain a Mineral Resource Estimate (“MRE”) in accordance with NI 43-101.
The QP has reviewed and verified that the technical information with respect to all the Company’s exploration efforts to date contained in the Report are accurate and has approved the written disclosure of such information. The Report is intended to be read as a whole, and sections should not be read or relied upon out of context.
Key Technical Report Recommendations
Further work on the Project is recommended in the area of the Cable Bay Shear Zone (the “CBSZ”), a prominent crustal-scale geological structure trending northeast-southwest through the Project that is largely underexplored for uranium deposits. The CBSZ is characterized by a well-defined conductive signature, radiometric anomalies, and numerous historically-mapped uranium occurrences. A ground gravity survey to better define future drill targets is recommended over the CBSZ extending at least five hundred (500) metres of either side of the historical electromagnetic conductors.
About Carpenter Lake
Carpenter Lake is comprised of twelve (12) mineral claims covering approximately 18,680 hectares owned 60% by Greenridge and 40% by Renegade Gold Inc., with Greenridge acting as operator of exploration activities. Greenridge can earn a 100% interest in the Project (the “Option”) by fulfilling a schedule of cash payments, common share issuances and exploration expenditures (for details please see Greenridge’s news release dated May 30, 2024). Further information on Carpenter Lake can be accessed on the Company’s website at: Carpenter Lake Uranium - Greenridge Exploration
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 272,849 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 14 projects and additional prospective claims covering approximately 196,338 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 76,511 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, cobalt, gold 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 with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; further exploration work on the Project in the future; and the potential benefits of completing the Option. 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, cobalt, gold 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
FAQ**
How does Greenridge Explo GXPLF plan to effectively explore the Cable Bay Shear Zone based on the recommendations from the recent technical report filed on January 15, 2026?
Given the Company's current ownership structure of Carpenter Lake, what strategies will Greenridge Explo GXPLF employ to secure a 100% interest in the Project as outlined in previous communications?
What specific metrics or criteria will Greenridge Explo GXPLF use to assess the potential value of their uranium and other metal projects, especially in light of the challenges identified in the forward-looking statements?
How will Greenridge Explo GXPLF mitigate known risk factors mentioned in their forward-looking statements, particularly regarding fluctuations in commodity prices that could impact project feasibility and investor confidence?
**MWN-AI FAQ is based on asking OpenAI questions about Greenridge Explo (OTC: GXPLF).
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