• The reported intersection includes 1.86% U₃O₈ over 12.5 m at 79.7 m true vertical depth which includes the Project’s highest individual assay of 5.61% U₃O₈

Baselode Energy Corp. (TSX-V: FIND) (OTCQB: BSENF) is pleased to announce the geochemical assay results from drill hole AK22-069 of 0.90% U₃O₈ over 31.0 m starting at 69.3 m true vertical depth which includes 1.86% U₃O₈ over 12.5 m at 79.7 m true vertical depth. AK22-069 is the latest and best hole to date from the now-complete 22,500 metre diamond drill program on the ACKIO high-grade uranium discovery, Hook project, Athabasca Basin area, northern Saskatchewan (see Table 1 and Figure 1).

“Drill hole AK22-069 has delivered the best overall uranium assay results we’ve received on ACKIO to date, including the highest individual assay result returning 5.61% U₃O₈ over 0.5 m.  Hole -069 was drilled down-dip of holes AK22-051 (0.50% U₃O₈ over 28.9 m) and AK22-052 (0.58% U₃O₈ over 27.6 m) which both intersected uranium mineralization at the overburden-basement contact, i.e., as shallow as possible at ACKIO. The reported intercept from hole -069 has exceeded the results from both of those drill holes and confirms near-surface, high-grade mineralization is continuous and more concentrated at depth, and still within 100 m of surface. These results demonstrate the exciting potential at ACKIO for the possible development of a near-surface, high-grade uranium open pit mining scenario. We look forward to continuing drilling this zone with our next ACKIO drill program in 2023,” said James Sykes, CEO, President and Director of Baselode.

Geochemical U₃O₈ assay results from drill hole AK22-069 were provided by Saskatchewan Research Council’s Geoanalytical Laboratory in Saskatoon, Saskatchewan. The assay methodology includes SRCs “U₃O₈ Wt% 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 ICP-OES. Uranium assay results from the remaining eighteen drill holes will be released as they are received from SRC and after being compiled and thoroughly quality checked by the technical team.

The downhole gamma probe results confirm mineralization is continuous where core loss is present as noted in Table 1.

Click Here for Figure 1 Plan Map of Ackio and Table 1 Drill Collar Details

About ACKIO

ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 5 separate zones, with mineralization starting as shallow as 28 m beneath the surface and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 200 m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east and south.

ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline between Cameco Corp.’s (TSX: CCO) 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% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

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.

QP Statement

The technical information contained in this news release has been reviewed and approved by Cameron MacKay, P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a  Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”