Greenridge Exploration Announces Completion of Summer 2026 Exploration Program at the Hook-Carter Uranium Project in Partnership with Denison Mines
VANCOUVER, British Columbia, Sept. 24, 2026 (GLOBE NEWSWIRE) — Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3 | OTCQB: GXPLF), is pleased to announce the completion of a 2026 summer exploration program (the “Program”) at the Hook-Carter Uranium Project (“Hook-Carter”, or the “Project”) located in the southwestern Athabasca Basin region of Saskatchewan, Canada. The Project is owned 25% by Greenridge and 75% by Denison Mines Corp. (“Denison”), with Denison acting as operator of exploration. Hook-Carter is host to the interpreted northeastern strike extensions of parallel structural trends, including the Derkson Corridor and the prolific Patterson Lake Corridor (“PLC”), along which multiple uranium deposits and showings have been discovered to the southwest of the Project.
Highlights of the Hook-Carter 2026 Exploration Program
- Denison and Greenridge carried out thirteen (13) lines of Fixed Loop Electromagnetic (“FLEM”) surveying totaling 15.85 line-kilometres on two (2) ground loops, with readings taken at fifty (50) metre station spacings on the Derkson Corridor, where summer ground conditions allowed access to the area of interest (see Figure 1);
- Concurrent with the FLEM survey, a geochemical sampling crew collected four hundred twenty-nine (429) soil samples at fifty (50) metre intervals on thirteen (13) lines over the 19.5 line-km Derkson Corridor grid. The soil samples were submitted to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario for ICP-OES and ICP-MS analyses by 4-acid digestion and INAA, and for spatiotemporal geochemical hydrocarbons (“SGH”) soil analysis.
Figure 1 – Hook-Carter Summer 2026 Exploration Grids Over Airborne ZTEM Conductivity
- A light detection and ranging (“LiDAR”) survey was flown over the PLC and Derkson Corridors using an exSWARM LiDAR high resolution Digital Elevation Model survey with 0.5 metre cells over a 44 km2 area. The LiDAR survey will provide precise, three-dimensional information about the surface of the Project, which can assist to outline structural features such as the muted expression of strike-slip faults, linear rifts, and depressions.
Russell Starr, Chief Executive Officer of Greenridge stated: “Our 2026 summer Program at Hook-Carter is an important step for target development at Hook-Carter. The results of this work are expected to provide a higher focus for drill hole targeting along the Derkson Corridor, which will support potential drilling programs in 2027 and beyond.”
About the Derkson Corridor
In 1978, drill hole DER-04 collared within the Derkson Corridor intersected 0.24% U3O8 over 2.5 metres from 120.5 to 122.5 metres, approximately 4.25 kilometres to the south of the current boundary of the Project (see Figure 2).
Figure 2 – Uranium Deposits and Occurrences Proximal to the Hook-Carter Project
The uranium discovery in hole DER-04 sparked a series of drill campaigns by the Saskatchewan Mining and Development Corporation (“SMDC”, a predecessor company of Cameco Corporation) to locate additional mineralization, but no significant uranium occurrences were found in the immediate area of hole DER-04. Denison and Greenridge consider that the northern extent of the Derkson Corridor could be highly-prospective for hosting uranium mineralization, as is evidenced by a 2004 study of historical Derkson Corridor drill core carried out by UEM Inc. (a joint venture company held by Cameco Corporation and a predecessor of Orano Canada) that concluded: “…in summary, the drill holes which display the most encouraging combination of prospective features…include DDHs DER-23, DER-09 and DER-13. Significantly, DDH’s DER-23 and DER-09 are the most northerly of the DER holes. There has been only a limited number of prior drill tests…to the north of DDH DER-23.”1 The site of drill hole DER-23 lies approximately 2.75 kilometres south of the current Hook-Carter property boundary.
About the Hook-Carter Geochemical Survey
SGH is a method of geochemical exploration that detects one hundred sixty-two (162) specific hydrocarbon compounds presumed to have migrated from a mineralized body in the subsurface through rock cover and overburden and have been adsorbed on the surficial soils. SGH laboratory analyses detect these hydrocarbons as a method of identifying the location of buried, or “blind”, mineralized bodies. Recent research has shown that there are relationships between specific commodities and SGH compound classes that can provide a “hydrocarbon fingerprint” for metals such as uranium.2
About Hook-Carter
Hook-Carter consists of eleven (11) claims covering 25,115 hectares and is located in the southwest corner of the Athabasca Basin approximately one hundred forty-seven (147) kilometres northeast of La Loche, SK. Hook-Carter is interpreted to host the northeastern strike extension of the PLC, which hosts NexGen Energy’s Arrow uranium deposit (and a potential expansion of the width of the PLC with the recently discovered Patterson Corridor East zone), Paladin Energy Limited’s Triple R uranium deposit and its new discovery known as the Atlas occurrence, and Purepoint Uranium Group’s Spitfire, Hornet, and Dragon zones in a joint venture with Cameco Corporation and Orano Canada (see Figure 2). The Project also overlies the interpreted strike extensions of the Carter and Derkson corridors, each of which represent highly prospective and under-explored structural corridors.
The 2026 summer exploration Program was based from a permitted temporary work camp located on the Project. Denison, as operator of exploration, is committed to collaborating with Indigenous peoples and communities to build long-term, respectful, trusting, and mutually beneficial relationships and aspires to avoid any adverse impacts of Denison’s activities and operations, which intentions are expressed in Denison’s Indigenous Peoples Policy.
Details of the Hook-Carter Joint Venture Agreement
In October 2016, ALX Resources Corp. (“ALX”) and Denison entered into a purchase agreement whereby ALX sold an 80% interest in the Project in exchange for 7.5 million common shares in the capital of Denison. ALX retained a 20% interest in Hook-Carter, and Denison agreed to fund ALX’s share of the first $12.0 million of expenditures. On November 15, 2019, ALX and Denison executed a written acknowledgement with respect to the deemed formation of a joint venture between them upon Denison’s completion of a requirement to solely fund a minimum of $3.0 million of project expenditures within an initial 36-month funding period. From 2016 to 2023, Denison’s exploration expenditures at Hook-Carter totaled approximately $7.08 million, including the completion of surface and airborne geophysical programs, as well as nearly 12,000 metres of diamond drilling.
In May 2024, the Hook-Carter joint venture was amended whereby ALX could increase its ownership interest in the Project from 20% to 25% by funding the next $3.0 million of exploration at the Project by November 2026. On December 30, 2024, ALX was acquired by Greenridge by way of a court-approved Plan of Arrangement and Greenridge assumed ALX’s ownership interest and its funding obligations in the amended Hook-Carter joint venture. During the 1st Quarter and 2nd Quarter 2026, Greenridge met the $3.0 million expenditure and has increased its cumulative ownership percentage in the Hook-Carter joint venture to 25%.
Statement of Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, M.Sc., P. Geo., a geological consultant to the Company and a Qualified Person for Greenridge as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Hillacre has examined information regarding the historical and current exploration at Hook-Carter, which includes a high-level review of the historical sampling, analytical, and procedures underlying the information and opinions contained herein.
Management cautions that historical results collected and reported by operators unrelated to Greenridge have not been verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work in at Hook-Carter. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, or other properties located within the Athabasca Basin, whether in reference to stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Project.
About Greenridge Exploration Inc.
Greenridge 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 19 projects and additional claims covering approximately 229,842 hectares with considerable exposure to potential uranium, gold and nickel 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 12 projects and additional prospective claims covering approximately 167,800 hectares. The Company has opportunities to realize value in a further seven strategic metals projects which include gold, and nickel, copper and cobalt exploration properties totalling approximately 62,042 hectares. Project 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.3
- The Hook-Carter Uranium Project (25% Greenridge, 75% 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 4, 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.5
- 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.6 In 2024, Greenridge’s prospecting program located a float sample that returned 31.13% U3O8, sourced from the Tundra Showing.7
- 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.8
The Company has strategic partnerships, which include uranium exploration properties being operated and advanced by Denison Mines Corp. and Uranium Energy Corp. The Company’s management team, board of directors, and technical team bring significant expertise in capital raising and advancing mining projects and is poised to attract new investors and raise future capital.
References:
1 – Saskatchewan Mineral Assessment Database, Report #74F11-0033, 2005.
2 – “Finding Deeply Buried Deposits Using Geochemistry”. In: Geochemistry: Exploration, Environment, Analysis, 2004, Vol. 4, No. 1; Cameron, E.M, et al.
3 – Black Lake: UEX Corporation News Release dated October 12, 2004.
4 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014.
5– McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023.
6 – Nut Lake: 1979 Assessment Report (number 81075) by Pan Ocean Oil Ltd.
7 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2024.
8 – 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 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; anticipated benefits of conducting the Program; the Company’s objectives, goals, or future plans with respect to any of its projects; further exploration work on its projects in the future. 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.
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