It was understood he had been living and working on a large farm in the valley off Landlyst Rd about halfway between inland Waihi and Whiritoa before he went missing.
Police said a post-mortem examination was yet to be completed but the death, which was not considered suspicious, had been referred to the coroner.
His next of kin have been informed.
"Police extend their deepest sympathies to Mr Ridley's family and friends at this time," the police statement said.
Super Liquor Waihi duty manager Sam Mudgway said he had known Mr Ridley for at least five years. He was a regular customer who used to come into the store at least once a week.
Mr Mudgway said if the body found was Mr Ridley, he was saddened by his death and felt for his family.
"The last time I saw Grant was around the time he was reported missing. He was a nice guy, always polite, but he was someone who did not talk a lot about his private life.
"Grant was the sort of guy who would keep to himself a lot. But I don't have a negative thing to say about him, " he said.
"Even though I didn't know him really well, in a small community like ours, his death still affects you, and I want to express my sadness and sympathies to his family."
Other local Waihi residents also described Mr Ridley as nice guy who tended to keep to himself.
A local butcher known to the community as Porky earlier said Mr Ridley came into the butchery a few times a week and was a "very shy" but "nice enough guy".
Mr Ridley's mother Ann Ridley declined to comment.
