Bayridge Announces Acquisition of 40% Interest in Waterbury East Property

Rhea-AI Summary

Bayridge Resources (OTCQB: BYRRF) has successfully acquired a 40% interest in the Waterbury East Property through its option agreement with CanAlaska Uranium Ltd. Following this acquisition, CanAlaska retains the remaining 60% interest and will serve as the lead operator in the joint venture.

The company has decided not to pursue additional interest in the Waterbury East Property beyond the current 40%. Additionally, Bayridge has chosen not to exercise its option to acquire a 40% interest in the Constellation Property, effectively terminating any rights or interests in that property.

Positive

• Successfully acquired 40% interest in Waterbury East Property
• Established joint venture partnership with CanAlaska Uranium as lead operator

Negative

• Declined to pursue additional interest acquisition in Waterbury East Property
• Opted not to exercise 40% interest option in Constellation Property, losing potential mining assets

Elects not to exercise option to earn interest in Constellation Property

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K0) (the "Company" or "Bayridge") is pleased to announce that it has earned a 40% interest in the Waterbury East Property pursuant to the property option agreement ("Waterbury East Agreement") between the Company and CanAlaska Uranium Ltd. ("CanAlaska") dated March 24, 2024. CanAlaska holds the remaining 60% interest. The Company has advised CanAlaska that it has elected not to earn any additional interest (beyond 40% in the property) and the parties will accordingly operate the Waterbury East Property on a joint venture basis pursuant to the terms of the Waterbury East Agreement, with CanAlaska being lead operator.

The Company also announces that it has not exercised its option to acquire a 40% interest in the Constellation Property pursuant to the property option agreement between the Company and CanAlaska dated March 25, 2024, and that it has no further interest in the property, nor the right to earn an interest.

About Bayridge Resources Corp.

Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian mineral projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested.

ON BEHALF OF THE BOARD OF DIRECTORS:

For more information, please contact:

Satvir Dhillon, President and Chief Executive Officer
Email: saf@bayridgeresources.com
Tel: 604-484-3031

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note on Forward-Looking Information

This release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation based on current expectations, estimates, forecasts, projections, beliefs and assumptions made by management of the Company. Forward-looking information is generally identified by words such as "believe", "project", "aim", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", and similar expressions. Although the Company believes that the expectations and assumptions on which such forward-looking information are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking information in this news release. The forward-looking information included in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268826

FAQ

What percentage stake did Bayridge Resources (BYRRF) acquire in the Waterbury East Property?

Bayridge Resources acquired a 40% interest in the Waterbury East Property, with CanAlaska Uranium holding the remaining 60%.

Who will operate the Waterbury East Property joint venture?

CanAlaska Uranium will serve as the lead operator of the Waterbury East Property joint venture.

Why did Bayridge Resources not exercise its option for the Constellation Property?

The press release does not specify the reason why Bayridge chose not to exercise its option to acquire a 40% interest in the Constellation Property.

What is the current ownership structure of the Waterbury East Property after Bayridge's acquisition?

The ownership structure is split between Bayridge Resources holding 40% and CanAlaska Uranium holding 60% of the Waterbury East Property.

When was the Waterbury East Agreement originally signed?

The Waterbury East Agreement between Bayridge Resources and CanAlaska was signed on March 24, 2024.