Greenridge Exploration Engages Dahrouge Consulting

VANCOUVER, British Columbia, March 06, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce that it has engaged Dahrouge Geological Consulting Ltd. (“Dahrouge”) to lead future exploration (including drilling) of the Company's Nut Lake Project (the “Project”), which is located in Nunavut, Canada. The Project covers approximately 4,036 hectares and includes historical drilling which intersected up to 9ft of 0.69% U₃O₈ including 4.90% U₃O₈ over 1ft from 8ft depth¹.

Dahrouge is a North American mineral exploration, consulting, and project management group with offices in Edmonton and Montreal, Canada, and Denver, Colorado. Dahrouge provides professional geological, logistical and project management services to the world's mining and mineral resource industry including project generation, program design, geophysics, project evaluation, and geology and resource estimations.

Jody Dahrouge, President of Dahrouge, expressed, "I look forward to partnering with the Greenridge team on the exploration of the Nut Lake Project, where we hope to continue our record of discovery. The Dahrouge team generated a number of projects in Saskatchewan’s Athabasca Basin that led to significant uranium discoveries over the last 15+ years. Optimistically, the Nut Lake Project will provide an opportunity to replicate that success. Our team eagerly anticipates initiating exploration activities later this year.”

The Project is located approximately 55km north of the Angulak Uranium Deposit² or 180km southwest of Baker Lake, Nunavut in the Yathkyed Basin (a sub-basin of the prolific Thelon Basin) in Nunavut Territory, Canada. The Project consists of three contiguous mineral licences encompassing a total land area of approximately 4,036 hectares (~40km²). The Project hosts high-grade vein-hosted grab samples of up to 4.36% U₃O₈, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni¹.

Russell Starr, CEO of Greenridge, remarked, “I am confident that Dahrouge will be instrumental in maximizing the potential of the Nut Lake Project. The Dahrouge team's extensive experience in uranium exploration is expected to be of great value as we look to advance the Project.”

Appointment of Advisor

The Company is pleased to announce the appointment of Mark Selby as an Advisor to the Company, effective immediately.

Mr. Selby is currently CEO of Canada Nickel Company and was formerly President & CEO of Karora Resources Inc. where he led a team that successfully raised over $100 million and advanced the Dumont nickel-cobalt project in Quebec, from an initial resource to a fully permitted, construction-ready project.