Bayridge Completes Acquisition of 51% Interest in the Baker Lake Uranium Project

Rhea-AI Summary

Bayridge Resources (OTCQB: BYRRF) completed the acquisition of a 51% interest in 1461433 B.C. Ltd, the holder of a 100% interest in the Baker Lake Uranium Project in the Kivalliq Region of Nunavut.

Closing occurred under a Definitive Share Purchase Agreement dated November 23, 2025, with the Company issuing 5,599,998 common shares as consideration. The issued shares are subject to resale restrictions until the later of (i) four months and one day after distribution or (ii) 10 days after filing the next audited annual financial statements. No new control blocks were created on closing. The Company intends to pay a finder’s fee of up to $139,999.95 to an arm’s length finder.

Positive

• Acquired 51% interest in Baker Lake Uranium Project
• Issued 5,599,998 shares as transaction consideration
• Transaction closed under a Definitive Share Purchase Agreement dated November 23, 2025

Negative

• Issued consideration shares subject to resale restrictions for at least four months and one day
• Planned $139,999.95 finder's fee increases transaction cash outflow

Vancouver, British Columbia--(Newsfile Corp. - December 11, 2025) - Bayridge Resources Corp. (CSE: BYRG) (OTCQB: BYRRF) (FSE: O0K0) ("Bayridge" or the "Company") is pleased to announce that, further to its news release dated November 24, 2025 (the "Prior Release"), it has completed the acquisition of 51% issued and outstanding shares of 1461433 B.C. Ltd ("Privco"), a BC private company that holds a 100% interest in and to the Baker Lake Uranium Project located in the Kivalliq Region of Nunavut (the "Acquisition"). The closing of the Acquisition (the "Closing") was carried out pursuant to a Definitive Share Purchase Agreement among the Company, Privco, and the shareholders of Privco (the "Vendors") dated November 23, 2025.

In consideration for the Acquisition, on Closing, the Company issued 5,599,998 common ("Shares") to the Vendors. No new control blocks were created upon the completion of the Acquisition.

Pursuant to applicable securities laws and the approval process implemented by the Canadian Securities Exchange, the Shares issued as consideration for the Acquisition are subject to resale restrictions whereby they may not be before the date that is the later of (i) four months and one day after the distribution date; and (ii) 10 days following the date on which the issuer files its next audited annual financial statements in the normal course.

In connection with the Acquisition, the Company intends to pay a finder's fee of up to a total of $139,999.95 to an arm's length finder.

About Bayridge Resources Corp.

Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium projects. The 51% owned Baker Lake Uranium Project consists of 83 contiguous claims in the Kivalliq Region of Nunavut, covering 619 km². Exploration has defined a 75 km unconformity with multiple uranium targets, supported by modern drilling and airborne geophysical surveys. Bayridge has also earned a 40% Interest in the 1,337 ha Waterbury East project, that 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:

Saf Dhillon, President & Chief Executive Officer

E-mail: saf@bayridgeresources.com

Tel: 604-484-3031

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.

The CSE has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277824

FAQ

What did Bayridge (BYRRF) acquire on December 11, 2025?

Bayridge acquired a 51% interest in 1461433 B.C. Ltd, which holds a 100% interest in the Baker Lake Uranium Project.

How many shares did Bayridge (BYRRF) issue for the Baker Lake acquisition?

The company issued 5,599,998 common shares to the vendors as consideration on closing.

Are the shares issued by Bayridge (BYRRF) for the acquisition freely tradable?

No; the issued shares are subject to resale restrictions until the later of four months and one day after distribution or 10 days after filing the next audited annual financial statements.

When was the Definitive Share Purchase Agreement for the Baker Lake deal dated?

The Definitive Share Purchase Agreement is dated November 23, 2025.

Will Bayridge (BYRRF) pay any finder’s fee for the Baker Lake acquisition?

Yes; the company intends to pay an arm's length finder up to $139,999.95.