Mr. James Sykes reports

BASELODE REPORTS NEAR-SURFACE HIGH-GRADE INTERSECTION OF 1.11% U3O8 OVER 7.4 METRES

Baselode Energy Corp. has released new uranium (triuranium octoxide (U3O8)) assays from five drill holes from the 7,512-metre diamond drilling program completed within the Ackio uranium prospect on the Hook project. Assays from the remaining 15 drill holes cover shallow mineralization expanding Pod 7, and exploration drill holes outside the known Ackio footprint.

"Ackio continues to impress us with near-surface, high-grade uranium mineralization in Pod 1, and with growth potential in Pod 7 starting to be realized. Drill holes AK23-095, AK23-096 and AK23-098 intersected mineralization starting within 50 m of surface, and had greater than 30 m of composite mineralization. This demonstrates the potential of Ackio as it hosts shallow, high-grade uranium and is endowed with multiple thick sequences of mineralization. In addition, Pod 7 has grown in thickness, depth and strike length with four drill holes, remaining open at depth and along strike. We anticipate more encouraging results from Pod 7 as the highest levels of radioactivity encountered in the program were drilled 50 m along strike of holes AK23-98 and AK23-99," said James Sykes, chief executive officer, president and director of Baselode.

Ackio drill program details

Thirty-six drill holes for 7,512 metres were completed during the program. Ackio consisted of 30 drill holes for 6,193 m, Mirror consisted of five drill holes for 1,145 m and one drill hole for 174 m was completed on a regional exploration target.

Drill holes AK23-95, AK23-96, AK23-98 and AK23-99 were drilled within the centre of Pod 1, with the former two drill holes also targeting moderate to deeper portions of Pod 7 to the west, and the latter two drill holes testing the edge of modelled mineralization in Pod 7.

Extensive shallow mineralization starting within 50 m of surface was confirmed in three drill holes in Pod 1, including 0.41 per cent U3O8 over 34.85 m at 46.65 m (43.5 m true vertical depth) from AK23-95 and 0.36 per cent U3O8 over 20 m at 54.0 m (49.7 m true vertical depth) from AK23-96.

Drill holes AK23-95 and AK23-98 confirmed extensive mineralization within the main body of Pod 7, including 0.11 per cent U3O8 over 24.5 m at 134.5 m (125.3 m true vertical depth) from AK23-95 and 0.18 per cent U3O8 over 13 m at 132 m (101.1 m true vertical depth) from AK23-98. These results expanded the modelled width of Pod 7.

Drill holes AK23-96 and AK23-99 intersected significant uranium mineralization below Pod 7, expanding the modelled depth of Pod 7. Pod 7 remains open at depth.

Drill hole AK23-97 tested the gap between pods 1 and 2 to determine if the two pods are connected. The drill hole intersected a few minor structures with uranium concentrations below reporting limits but not enough uranium to sufficiently determine pods 1 and 2 as the same pod.

Geochemical U3O8 assay results from drill holes AK23-95 to AK23-99 were provided by Saskatchewan Research Council's Geoanalytical Laboratory (SRC) in Saskatoon, Sask. The assay methodology includes SRCs U3O8 weight percentage assay analysis package where an aliquot of sample pulp is digested in a concentration of HCL:HNO3. The digested volume is then made up with deionized water for analysis by inductively coupled plasma optical emission spectroscopy. Uranium assay results from the remaining 15 drill holes will be released after being compiled, thoroughly quality checked and interpreted by the technical team.

Ackio is 30 kilometres southeast of well-established infrastructure, including an all-season road and power line between Cameco Corp.'s and Orano's McArthur River mine and Key Lake uranium mill joint ventures. Ackio is 70 km northeast of the Key Lake mill. The program was helicopter-supported to lessen any ground-induced environmental impacts within the project area.

About Baselode Energy Corp.

Baselode controls 100 per cent of approximately 264,172 hectares for exploration in the Athabasca basin area, Northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

Qualified person statement

The technical information contained in this news release has been reviewed and approved by Cameron MacKay, PGeo, vice-president, exploration and development, for Baselode Energy, who is considered to be a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.