Project Overview
The Baker Lake Uranium Project is Bayridge Resources’ flagship exploration asset, located in Nunavut’s Kivalliq Region. The project covers an underexplored land package with extensive surface exposure and modern geophysical coverage. Historical exploration results and regional datasets support a phased, data-driven evaluation of uranium exploration targets within the Thelon-Baker Basin.
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District Context – Thelon-Baker Basin
The Baker Lake Project is located within the Thelon-Baker Basin (the Baker Lake area of the Thelon Basin), which is considered geologically analogous to Saskatchewan’s Athabasca Basin. Uranium exploration in the district dates back several decades and includes multiple documented uranium occurrences, while the region remains significantly less explored than the Athabasca Basin.
The Baker Lake Uranium Project has been evaluated using modern airborne geophysical surveys, including gamma-ray spectrometry, electromagnetic (EM), and magnetic datasets. These surveys have identified widespread uranium anomalism across the project area and outlined approximately 70 kilometres of interpreted prospective strike associated with favourable structural and lithological settings.
Airborne EM surveys have identified multiple conductive features, several of which coincide with elevated radiometric responses and interpreted structural complexity. Integration of historical exploration results with modern geophysical datasets has supported the prioritization of more than 30 uranium exploration targets for further evaluation as part of a phased exploration approach.
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Priority Targets
Three priority target areas have been identified based on the coincidence of geophysical anomalies, favourable geology and historical exploration data.
Andromeda
Characterized by a strong airborne radiometric anomaly extending over approximately 20 kilometres, with exposed bedrock and elevated gamma-ray responses.
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All assays shown are historic and have not been independently verified.
Delta
A priority exploration target supported by coincident airborne electromagnetic and radiometric responses within a favourable structural setting, identified through integrated geophysical analysis.
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All assays shown are historic and have not been independently verified.
Atlas
Characterized by a multi-kilometre structural corridor interpreted from airborne geophysical datasets, representing a high-priority exploration trend.
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All assays shown are historic and have not been independently verified.
Uranium exploration in the Baker Lake region began during the 1970s and 1980s, when regional surveys and prospecting identified elevated uranium values across the area.
More recent work has focused on compiling and integrating historical exploration results with modern geophysical datasets to improve geological understanding and inform a phased, evidence-based approach to exploration planning.
Despite this work, the majority of identified targets remain untested by drilling.
2026 Exploration Program
The 2026 exploration program is designed to evaluate priority targets through a phased, data-driven approach. All exploration activities will progress in alignment with regulatory requirements and community engagement outcomes.
Permitting and Engagement (Ongoing)
The Company is progressing the Nunavut Land Use Permit process and Nunavut Impact Review Board (NIRB) screening, alongside ongoing engagement with the Kivalliq Inuit Association, local communities, and relevant regulators. Environmental stewardship, wildlife management, and regulatory compliance remain integral components of the planning process.
Field Exploration (Planned, subject to permitting)
Subject to permitting, access, and community engagement outcomes, the Company is planning field-based exploration activities, including prospecting, geological mapping, and geochemical sampling, to further refine priority targets. Field activities may include a multi-week field program and the collection of surface rock samples to support integrated geological and geophysical interpretation.
Potential Drill Program (Contingent)
Subject to permitting, community engagement outcomes, and the results of field exploration, the Company may consider a potential diamond drilling program of approximately 3,000 metres. Any drilling would target high-priority areas identified through integrated geological, geophysical, and geochemical analysis.
QUALIFIED PERSON (QP): The technical content of this website has been reviewed and approved by Mark Richardson, P.Geo., Vice President of Exploration and a Qualified Person under National Instrument 43-101.
Exploration activities, schedules, and budgets are subject to permitting, community engagement outcomes, technical results, and regulatory approvals
