Green Bridge Metals Corporation announced encouraging results for the potential of bulk tonnage nickel (Ni) mineralization based on prospecting of the Chrome Puddy ultramafic intrusion. A total of 52 grab samples of serpentinized ultramafic rock were collected from over 2.5 km strike length and contained values up to 0.38% Ni with an average of 0.20% Ni. Ni mineralization at the Chrome Puddy Project is associated primarily with Ni-rich iron (Fe) oxides including Ni-oxide minerals such as trevorite (NiFe3+O4).

The Project - Significant nickel mineralization was first discovered in 1964 at Puddy Lake associated with magnetite in serpentinized ultra-mafic rocks. Based on limited drilling south of Puddy Lake, Commerce Nickel Mines Ltd. reported a nickeliferous magnetite resource of 30 million tons grading 0.27% Ni, 0.017% Co and 7.2% recoverable Fe to a depth of 400' (122 m) (Annual Report 1966). The estimate pre-dates and does not comply with Canadian Institute of Mining ("CIM") Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019) as required by NI 43-101 and has no comparable resource classification (NI43-101 technical report by Apex Geoscience Ltd. for Green Bridge Metals, October 2023).

Based on historically reported mineralized drill holes over a 1.9 km strike length the Company has an exploration target estimated at 80 to 100Mt of similar grades to the historical resource from the 1960's. In addition, several untested conductors within the 7 km long ultramafic intrusion that hosts the nickel mineralization provide considerable exploration upside on the project. The ultramafic intrusion that hosts nickel mineralization is highly serpentinized where hydrothermal alteration has transformed anhydrous silicate minerals such as olivine into hydrous and hydroxide minerals such as serpentine and brucite. This process has released nickel and iron oxide minerals that occur in both veins and as disseminated mineralization.

The purpose of the recent prospecting program on the property was to support the development of exploration targets that have the potential to expand the scale of the known mineralized system. Sample Results - From a total of 109 grab samples collected in the autumn 2023 prospecting campaign, 52 grab samples were from serpentinized ultramafic rocks. In addition to the elevated Ni contents ranging from 0.10% to 0.38% Ni with an average of 0.20% Ni, the ultramafic samples contained an average of 11.7% Fe, 0.015% Co and 0.25% Cr.

Higher Ni values are generally correlated with higher Fe content. Chrome Puddy serpentinite samples are generally low S with less than 0.1% S. Low S samples typically also have low Cu, Pt, Pd and Au. Selected representative grab sample results and locations.

The Chrome Puddy average Ni, Fe, Co values compare favourably with reported grades of bulk-tonnage nickel deposits in ultramafic rocks such as Canada Nickel Co.'s Crawford Nickel Deposit located north of Timmins, Ontario. Notably all the ultramafic grab samples from the Chrome Puddy prospecting had greater than 0.10% Ni which is the cut-off grade for the 2023 NI43-101 resource estimate at the Crawford Nickel Deposit. Exploration Plans - Green Bridge is encouraged by the widespread nickel mineralization at Chrome Puddy associated with Fe-Ni oxides.

The Company is currently finalizing 2024 exploration plans to develop a better understanding of the extent and grade of this mineralization type. The Company intends to fly an airborne magnetic/EM survey to evaluate areas of higher magnetic intensity potentially associated with bulk tonnage Fe-Ni oxide mineralization. The Company will also investigate EM conductors identified by previous operators that may potentially be related to high-grade sulphide mineralization.

Based on the recent prospecting that indicates higher Ni values are associated with higher Fe values, drilling of areas with higher total field magnetic response should selectively target higher Ni values. The Company is currently developing a program with the anticipation of drilling in the 2024 summer season. CO2 Sequestration Opportunity - Minerals associated with serpentinization such as brucite and to a lesser extent serpentine have the potential for sequestering atmospheric CO2 through mineral carbonation reactions.

This leads to the potential for CO2 neutral mining opportunities and potentially for revenue from carbon capture. Serpentine will sequester CO2 and is known to be the dominant rock forming mineral in the Chrome Puddy intrusion, but the extent of other alteration minerals such as brucite is not known. Green Bridge will undertake a preliminary mineralogical evaluation using X-ray diffraction (XRD) on the prospecting samples from Chrome Puddy to determine the presence and proportion of alteration minerals, especially brucite, a very effective mineral for carbon sequestration.

Analytical Procedures - A total of 109 grab samples were submitted for analysis at Actlabs Laboratories located in Thunder Bay and Ancaster, Ontario. The samples were analyzed using sodium peroxide fusion with inductively coupled plasma/mass spectrometry (ICPMS) analysis for multi-elements and fire assay with inductively coupled plasma/optical emission spectrometry (ICP/OES) analysis for Au, Pt, Pd. The multi-element package includes 20 elements including Cr, Ni, Cu, Fe, and Co.