Mr. James Sykes reports

BASELODE DISCOVERS NEW ZONE OF RADIOACTIVITY SIX KILOMETRES NORTHEAST OF ACKIO

Baselode Energy Corp. has discovered a new uranium prospect on the Hook project in the Athabasca basin area of northern Saskatchewan.

Highlights:

• Intersected over 30 metres of continuous radioactivity within a massive hydrothermal alteration system;
• New zone discovered on the second drill hole of Hook's regional exploration program, six kilometres from Ackio discovery;
• Demonstrates the fertility of the uranium corridor along Baselode's Hook project

"We're very excited about this new discovery on Hook, on the second hole of our regional exploration program. HK24-010 intersected over 30 metres of continuous radioactivity at approximately 173 metres vertical depth. This new discovery is hosted within a massive alteration corridor similar in scale to what we have observed at our Ackio zone six kilometres to the southwest. We believe the alteration corridor has mobilized uranium from the host rocks and deposited it within a redox front, similar to what we interpret for HK24-010. We intend to follow-up drilling in this area in the coming weeks after completing exploration drilling in a logistically efficient order on other targets with stronger geophysical anomalisms. Hook's regional exploration aim was to discover new zones of uranium mineralization and we're well on our way with this new prospect," commented James Sykes, chief executive officer, president and director of Baselode.

Drill hole details

Drill holes HK24-009 and HK24-010 were collared six kilometres northeast of Ackio. The drill holes targeted a coincident gravity-low, magnetic-low and conductive response within the area of an interpreted north-south-oriented Tabbernor fault.

HK24-009 intersected 130 metres of structurally controlled massive hydrothermal alteration, including alternating hematite and white clay within orthogneiss starting immediately at the top of bedrock. Gamma probe radioactivity averaged 20 counts per second within the altered rocks, 34 counts per second and 69 counts per second within two different fresh rock types, including a small zone of anomalous radioactivity measuring 177 counts per second over 4.3 metres.

HK24-010 intersected over 230 metres of structurally controlled massive hydrothermal alteration similar to HK24-009. Gamma probe radioactivity averaged 23 counts per second within the altered rocks down to 200.8 metres, followed by an average of 275 counts per second over 33.7 metres, including 473 counts per second over 6.8 metres, associated with structurally controlled hydrothermal hematite and minor redox alteration hosted within the basal 2.5 metres of metasedimentary rocks and pegmatite for the remainder. The fresh rocks at the end of the drill hole averaged 60 counts per second.

Drill hole samples have been sent to Saskatchewan Research Council for uranium and multielement analysis. Results will be released after being received and reviewed by the company.

About Baselode Energy Corp.

Baselode controls 100 per cent of approximately 272,804 hectares for exploration in the Athabasca basin area of Northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The company discovered the Ackio near-surface uranium prospect in September, 2021. Ackio measures greater than 375 metres along strike and greater than 150 metres wide, comprising at least nine separate uranium pods, with mineralization starting as shallow as 28 metres and 32 metres beneath the surface in pods 1 and 7, respectively, and down to approximately 300 metres depth beneath the surface with the bulk of mineralization occurring in the upper 120 metres. Ackio remains open at depth and to the north, south and east.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside the Athabasca basin. The exploration thesis is further complemented by the company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

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.

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