Mr. James Sykes reports

FORUM-BASELODE ANNOUNCES ABERDEEN projECT DRILLING UNDERWAY

Baselode Energy Corp. and Forum Energy Metals Corp.'s drilling is under way on the Aberdeen project.

Key highlights

• Exploration plan: 18 to 25 drill holes planned and up to 7,000 metres;
• Target areas: 10 high-priority target areas, first targets tested will be Loki and Bjorn;
• Loki grid: drilling will follow up on prospective gravity target with strong clay alteration and elevated uranium (up to 30 parts per million -- 30 times background) in the Thelon sandstone.

"Our drilling is under way on the Aberdeen project and the first target is our Loki grid. We are excited about this target because it has all the exploration building blocks for a possible new discovery," stated Rebecca Hunter, president, chief executive officer and director of Forum and upcoming Geiger Energy.

James Sykes, president and chief executive officer of Baselode, stated: "We're very excited that drilling has begun at Aberdeen. The Loki target area has all of the characteristics we'd expect to find near a high-grade uranium deposit in the Athabasca basin; elevated uranium in the sandstone and within 10 m of the basement unconformity, clay alteration, bleaching, desilicification and highly anomalous pathfinder elements in the sandstone. We believe an Athabasca-style unconformity high-grade uranium deposit discovery on the project will immediately reward both Baselode and Forum shareholders."

Aberdeen program details

Up to 7,000 m in 18 to 25 drill holes is 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, Mammoth, 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 under way on six to 10 of the target areas to help refine the main fault zones within the drill areas.

The exploration camp is in operation for the exploration season.

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, greater than 150 m 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 m 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 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 U3O8 (uranium 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 metres 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

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.