In March 2023, Greenridge acquired by way of purchase the Reindeer Lithium Project (“Reindeer”, or the “Project”) in northern Saskatchewan, Canada, which consists of 5 mineral claims totaling 13,239 hectares (32,713 acres). Reindeer is located approximately 130 kilometres (81 miles) due east of LaRonge, SK and 20 kilometres (12.4 miles) southwest of the community of Pelican Narrows, SK. Reindeer is 100%-owned by Greenridge, subject to a 2.0% net smelter returns royalty (“NSR”) in favour of the vendor of the Project claims (the “Claims”). Greenridge acquired Reindeer to assess its potential to host lithium-bearing pegmatites.

In consideration for the acquisition of the Claims, Green has agreed to pay $12,500 to the vendor for a 100% interest in the Claims, subject to a 2.0% NSR. Greenridge is entitled to purchase one-half of the NSR (1.0%) from the vendor at any time within five years from closing of the transaction for the Claims, for $2,000,000.