Mr. James Sykes of Baselode reports

FORUM-BASELODE: ABERDEEN PROJECT DRILL PROGRAM TO START IN JULY

Baselode Energy Corp. and Forum Energy Metals Corp. are opening the exploration camp on the Aberdeen project in Nunavut and plan to initiate a two-drill diamond drill program in July.

Key highlights:

• Exploration plan: 18 to 25 drill holes planned and up to 7,000 metres;
• Target areas: 10 high-priority target areas, both with and without sandstone cover; first targets tested will be Loki and Bjorn.

"We are excited to begin our upcoming drill program on the Aberdeen project. Our focus this year is to explore the wider project area by testing up to 10 high-priority target areas for additional uranium mineralized zones. Our plan is to showcase the uranium discovery potential of the project area by testing numerous blue-sky targets. Our drill targeting will focus on strong gravity anomalies along prospective fault trends both with and without sandstone cover," stated Rebecca Hunter, president, chief executive officer and director of Forum and coming Geiger Energy.

James Sykes, president and chief executive officer of Baselode, stated: "We're excited to be part of this drill program on Aberdeen. Working together with Forum, we believe our combined efforts and ideas will expedite a discovery on Aberdeen. We are encouraged with the technical details of the project as many previous drill holes have highlighted robust hydrothermal fluid alteration systems that are fertile with uranium. The Loki and Bjorn areas that Forum have defined are some of the first areas that we deemed to be very prospective, too."

Aberdeen program details

Up to 7,000 metres in 18 to 25 drill holes are planned at Aberdeen, depending on results. Targets and target criteria are as follows:

1. Sandstone-covered targets (that is, traditional unconformity targets) such as Loki, Bjorn, Thor, Squiggly River and Nymeria -- Loki and Bjorn will be the first two areas tested. Drilling in 2024 at Loki contained uranium values 30 times background and substantial clay alteration in the sandstone.
2. Basement-only targets including Lobster, Tarzan, Willow, Apollo and Starbuck -- three historical drill holes at Tarzan intersected significant clay alteration and elevated boron.
3. Drill targets are selected and prioritized based on the presence of gravity low anomalies in concert with major east-northeast- and northeast-trending faults, as well as any nearby drill or surface data that show prospective fault structures, clay or geochemical signatures.

The 2025 program is focused on finding additional high-grade discoveries to build scale and enhance the discovery potential in the district. Ground magnetic surveys are planned on six to 10 of the target areas to help refine the main fault zones within the drill areas.

The exploration camp is currently being opened, and drilling is expected to be under way shortly after camp is operable.

About Baselode Energy Corp.

Baselode controls 100 per cent of approximately 231,378 hectares for exploration in the Athabasca basin area of Northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

Baselode discovered the Ackio near-surface, uranium prospect in September, 2021. Ackio measures greater than 375 metres along strike and greater than 150 m wide, composed of at least nine separate uranium pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in pods 1 and 7, respectively, and down to approximately 300-metre depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. 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 of the Athabasca basin. The exploration thesis is further complemented by Baselode's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

About Forum Energy Metals Corp.

Forum Energy Metals is focused on the discovery of high-grade, unconformity-related uranium deposits in Canada's premier uranium jurisdictions: the Athabasca basin in Saskatchewan and the Thelon basin in Nunavut. The company holds a significant land position with 153,838 hectares in Saskatchewan -- primarily within the Athabasca basin -- and 95,519 hectares in Nunavut's Thelon basin.

Forum's flagship asset is the Aberdeen project in Nunavut, which hosts the high-grade Tatiggaq and Qavvik uranium discoveries. Tatiggaq is a basement-hosted prospect defined over a 300-metre strike length, comprising multiple steeply dipping, east-northeast-trending mineralized lenses located at depths between 80 and 180 metres. Notable intercepts include 2.25 per cent triuranium octoxide over 11.1 metres, highlighting a high-grade core within the system. To date, only 500 metres of a 1,500-metre-long anomaly has been drill tested. Qavvik is a similarly styled, basement-hosted prospect characterized by steeply dipping, east-northeast-trending mineralized lenses across a 100-by-100-metre area, from surface down to 400-metre depth. Both zones require further detailed drilling to determine the full extent of mineralization.

In addition to these discoveries, the Aberdeen project hosts over 50 high-priority exploration targets, many of which exhibit strong alteration and anomalous geochemistry from limited historical drilling -- or remain entirely untested.

Qualified person statement

For Forum Energy Metals: The technical information contained in this news release has been reviewed and approved by Rebecca Hunter, PGeo, president and chief executive officer of Forum Energy Metals, a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

We seek Safe Harbor.