Company compiles historical exploration data, reveals extensive uranium mineralization.

Greenridge Exploration Inc. Aug. 15 announced the completion of an updated technical review of Nut Lake reinforces the strong potential for significant uranium mineralization at this project in Nunavut, Canada.

Located approximately 55 kilometers (34 miles) from Atha Energy Corp.'s Angilak uranium deposit, with a historical resource of 2.8 million metric tons averaging 0.69% (43 million pounds) uranium oxide (U3O8), and roughly 135 kilometers (84 miles) from the Kiggavik uranium deposit operated by Orano SA with a historical resource of 10.4 million metric tons averaging 0.47% (127.3 million lb) U3O8, Nut Lake is a relatively small 5,853-hectare (14,463 acres) project nestled in the highly prospective Thelon Basin.

Found at the northern tip of the Yathkyed Basin, a sub-basin of Thelon, Nut Lake sits at the intersection of the basin unconformity and a major tectonic lineament.

Historical drilling at Nut Lake intersected up to 2.7 meters averaging 0.69% U3O8 from surface, including 0.3 meters averaging 4.9% U3O8. High-grade samples collected from the project also include 4.36% U3O8, 53.16 ounces per ton silver, 1.15% lead, and 7% nickel.

Since optioning Nut Lake in January, Greenridge has conducted detailed reviews of historical data, including compiling and digitizing drill hole information, georeferencing maps, and investigating uranium showings across the property.

Building on earlier work, the latest technical review focused on key uranium showings across the Nut Lake property, reinforcing its potential for significant uranium mineralization.

Detailed analysis of historical drilling and sampling data from the Tundra, Heartbreak, and Lakeshore showings has yielded encouraging results, including high-grade uranium as well as notable concentrations of silver and nickel.

Highlights from the secondary assessment at the Tundra showing include:

• 15 total samples: six from trenches and nine high-grade float samples.

• Trench assayed up to 42% U3O8 in a small, 2.36-inch wide, saw-cut grab sample with four samples containing over 7% U3O8.

• Float samples assayed up to 28% U3O8.

• 35 drill holes totaling 1,293 feet.

• Results include 1.54% U3O8 over 3.5 feet, 1.13% U3O8 over 6.0 feet, and high-grade zones reaching up to 8.84% U3O8 over 0.5 feet.

Highlights from the Heartbreak showing include:

• Located 200 meters east-southeast of the Tundra showing, in a biotite trachyte (mineralized volcanic rock) area.

• Key samples from two pitchblende (uraninite) fractures returned 2.11% U3O8 in a 3-inch fracture and 4.36% U3O8 in a 3.5-inch fracture.

• Descriptions and assay results suggest significant mineralization potential, with frost heave indicating a possible strike length for the fractures.

Highlights from the Lakeshore showing include:

• Four drill holes totaling 62 meters, with notable results being 0.015% U3O8 over two feet.

• And nine rock samples ranging from 0.06% to 0.32% U3O8, with notable results including up to 7.01% nickel and up to 58.3 oz/ton silver. High silver grades include 209.8 oz/ton and 186.2 oz/ton in fractures within mafic gneiss (layered iron-rich rock) and lead up to 4.21%.

While these showings are closely situated to each other – all within a few hundred meters – Greenridge also assessed additional sites within the property with evidence of historical exploration. These include the 431 Dike Swarm, 448 Anomaly, and SE Regional Anomalies.

Although not as consistent in its mineralization as the earlier showings, uranium content ranged from 0.06% to 10.39% U3O8 from 15 outcrop samples, 32 trench samples, and 73 drill holes.