BEEP.V · 2024-09-23 12:00:00

Baselode Defines the Significance of Massive Clay Alteration System Identified on Hook Uranium Project Five drill holes outlined an open massive hydrothermal clay alteration system measuring at least 200 m x 100 m, resembling alteration found in Athabasca high-grade uranium

Exploration Programs

Baselode Defines the Significance of Massive

Clay Alteration System Identified on Hook

Uranium Project

Five drill holes outlined an open massive hydrothermal clay alteration system measuring

at least 200 m x 100 m, resembling alteration found in Athabasca high-grade uranium

deposits

Radioactivity within the clay alteration system increases with depth and remains open

Drill hole HK24-010 intersected 13.4 metres of continuous radioactivity within a 200 m

wide alteration system

New defined target areas are within 6 km of near-surface ACKIO uranium prospect

Toronto, Ontario--(Newsfile Corp. - September 23, 2024) - Baselode Energy Corp. (TSXV: FIND)

(OTCQB: BSENF) ("

Baselode

" or the "

Company

") is pleased to provide results and findings from the

exploration and discovery portion of the drill program on Hook project ("

Hook

") in the Athabasca Basin

area of northern Saskatchewan.

"These results represent an important discovery on our Hook project. While we've already made a

discovery at Hook with ACKIO, this is only a small part of the broader Hook land package. The potential

on the property is substantial as Hook is an extensive project, and our discovery at ACKIO, combined

with our neighbour Atha Energy's discovery in their Gemini Mineralized Zone, highlights that the region

has all the geological features needed to host significant uranium deposits. More importantly, we can

clearly demonstrate that this area is fertile with uranium mineralization. Large-scale alteration systems

are key indicators when it comes to uranium, which tends to occur in smaller deposits relative to other

minerals. We're pleased to have uncovered such a large system, exhibiting all the hallmark features

needed for a new high-grade Athabasca uranium discovery," commented James Sykes, CEO,

President, and Director of Baselode.

Watch this

video

for a detailed analysis of the two follow-up target areas and a comparison of Hook

alteration systems to seven Athabasca high-grade uranium deposits that have combined over 700

million pounds of uranium.

Cannot view this video?

Visit:

https://www.youtube.com/watch?v=nKoT-b4CCUY

The first alteration system the Company highlights is in the HK24-016 area, measuring more than 250

metres wide by 400 metres deep, with a core of massive clay and bleached alteration styles that

measure 100 metres wide by at least 200 metres deep. These core alteration styles are important as

they are the same style associated with at least three basement-hosted Athabasca high-grade uranium

deposits.

The second alteration system identified in the HK24-010 area is significant due to its similarly large

scale, intersecting 13 meters of continuous anomalous radioactivity within pegmatite along the margin of

the fluid pathway. While assays are pending, the Company is well-funded and eager to proceed with

follow-up drill plans for these high-priority exploration targets.

Hook Exploration Drill Hole Highlights

HK24-016 area

Drill holes HK24-016, HK24-017, and HK24-021 to HK24-023 were collared 5.5 kilometres southwest of

ACKIO (

Figure 2

Figure 3)

. HK24-016 intersected 140 metres of massive hydrothermal clay and

bleaching alteration (the "

clay alteration

") within a broader 370 m thick alteration corridor (

Figure 4

The drill hole intersected anomalous radioactivity associated with fracture-controlled remobilized

hematite alteration within the clay alteration (

Figure 5

Both HK24-017 and HK24-021 targeted the clay alteration up-dip and down-dip, with each intersecting

30 and 145 metres of clay alteration, respectively. HK24-022 was collared 100 metres southeast of

HK24-016 and intersected 60 metres of clay alteration, and HK24-023 was collared 50 metres northeast

and intersected 110 metres of clay alteration. Initial observations suggests follow-up drilling is required

beneath HK24-021 and to the north of HK24-023.

The clay alteration encountered within these Hook drill holes (

Figure 6

) share numerous similarities to

massive hydrothermal clay alteration systems observed in Athabasca basement-hosted, high-grade

uranium systems, such as Cameco's Millennium and Eagle Point deposits, Uranium Energy Corp's

Roughrider deposits, and Denison Mines' Gryphon deposit.

The upper outer halo of the clay alteration is further identified with unique limonite liesegang banding and

fracture-controlled alteration, including a distinct quartz stockwork. These are also similar outer halo

alteration styles that have been observed within large-scale Athabasca uranium deposits.

HK24-010 area

Drill holes HK24-009 and HK24-010 were collared 6 kilometres northeast of ACKIO (see

Figure 2

Figure 7

). Details of these drill holes were initially released on

July 17, 2024

. HK24-010 has returned the

best radioactive intersection outside of Baselode's near-surface ACKIO uranium prospect with 13.2

metres of continuous anomalous radioactivity starting at 186 metres beneath the surface hosted within a

pegmatite along the western margin of a 200 m-wide, structurally-controlled, hematite and bleached

alteration system. The area remains open in all directions.

Drill hole samples have been sent to Saskatchewan Research Council for uranium and multi-element

analysis. Results will be released after being received and reviewed by the Company.

NOTES:

cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer ("RS-125"). The reader is

cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium

and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples

measured.

The Company defines groupings of RS-125 as i) background radioactivity (50 to 200 cps), ii) above-background radioactivity (200 to 300

cps), and iii) anomalous radioactivity (300 to 1,000 cps).

"Radioactivity (>300 cps)" in Table 1 is defined as drill core length with no greater than 2.0 m of consecutive drill hole length measuring less

than 300 cps.

All reported drill hole depths and lengths do not represent true thicknesses.

About Baselode Energy Corp.

Baselode controls 100% of approximately 238,930 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 m along strike, greater than 150 m wide, comprised of at least 9 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 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 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."

For further information, please contact:

James Sykes, CEO, President and Director

Baselode Energy Corp.

[email protected]

306-221-8717

www.baselode.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX

Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is

based on current expectations that are subject to significant risks and uncertainties that are difficult to

predict. Actual results might differ materially from results suggested in any forward-looking statements.

Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update

the reasons why actual results could differ from those reflected in the forward looking-statements unless

and until required by securities laws applicable to Baselode Energy Corp. Additional information

identifying risks and uncertainties is contained in the Company's filings with Canadian securities

regulators, which filings are available under Baselode Energy Corp. profile at

www.sedarplus.ca

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the

securities in the United States. The securities have not been and will not be registered under the United

States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and

may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons

unless registered under the U.S. Securities Act and applicable state securities laws, unless an

exemption from such registration is available.

FIGURE 1 - Baselode projects location map. ACKIO uranium prospect identified with yellow

circle.