en.Wedoany.com Reported - Canadian mineral exploration company Greenridge Exploration (TSX-V:GXP) has completed all obligations to acquire a 100% interest in the Carpenter Lake uranium project, located in the Athabasca Basin, Saskatchewan.

The company entered into an option agreement with ALX Resources (TSX-V:AL) and Renegade Gold (TSX-V:RAGE) in May 2024. Greenridge fulfilled all earn-in requirements by paying CAD 200,000 (USD 202,164) in cash, issuing 900,000 shares in three tranches, and incurring CAD 1 million in exploration expenditures on the project.

The Carpenter Lake project consists of 12 mineral claims covering approximately 18,680 hectares, spanning the southern margin of the Athabasca Basin. The project covers over 15 kilometers of the Cable Bay Shear Zone, a prominent crustal-scale geological structure trending northeast-southwest.

In January 2026, Greenridge expanded the project area by adding three new claims after identifying two historical drill holes from 1980 located in an open area near the western boundary. A gravity survey was conducted in April 2026, with results pending release.

Greenridge CEO Russell Starr stated that the project represents a "highly prospective" uranium asset in "one of the world's most uranium-rich regions." Starr said: "Only 12 drill holes have been drilled within the project area, of which only eight were drilled by Greenridge in the modern uranium exploration era, making this project significantly underexplored."

Greenridge Exploration is a mineral exploration company focused on the acquisition, exploration, and development of critical mineral projects in Canada.

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