BEEP.V · 2022-06-27 12:00:00

Baselode Intersects 81 Metres and 30 Metres of Radioactive Mineralization Near Surface; New Near-Surface Zone Discovered AK22-065 intersected a total 81.0 metres of composite mineralization including 1,057 cps over 52.3 m

Drill Results

Baselode Intersects 81 Metres and 30 Metres of Radioactive

Mineralization Near Surface; New Near-Surface Zone

Discovered

AK22-065 intersected a total 81.0 metres of composite mineralization including 1,057 cps over

52.3 m

, ranks as the

second-best drill hole on the project

AK22-052 intersected 2,677 cps over 30.0 metres beginning 30.0 metres downhole, ranks as best drill hole on the

project

Another near-surface zone has been discovered

TORONTO

June 27, 2022

/CNW/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("

Baselode

" or the "

Company

") is

pleased to provide an update for the ongoing 20,000 metre diamond drilling program (the "

Program

") on the ACKIO high-grade

uranium discovery ("

ACKIO

"), Hook project ("

Hook

"),

Athabasca

Basin area (the "

Basin

"), northern

Saskatchewan

(see

Figure 1

and

Table 1

"Four of these reported drill holes now rank amongst the top six in composite radioactivity results, as Baselode continues to expand

upon its ACKIO near-surface discoveries. These results demonstrate high levels of radioactivity but also considerable widths of

mineralization. Additionally, results from AK22-063 suggest that we've discovered another near-surface zone. The remainder of the

drill program will seek to delineate the extent of these near-surface zones as they remain open in all directions. These discoveries

are very shallow, with mineralization beginning 25 metres from surface at the overburden contact, similar to the open-pit mines in the

Athabasca's

history, most notably

Rabbit Lake

Cluff Lake

, and

Uranium City

operations," said

James Sykes

, CEO, President and

Director of Baselode.

The Company has prepared a video presentation providing technical details and interpretations of the Program results. The video

discusses:

Results and interpretations of the near-surface mineralization just beneath the overburden contact, including a new zone of

mineralization defined in hole AK22-063

Hand-held scintillometer results do not reflect what's underground in AK22-065 (i.e., 20% lost core in mineralization)

Ongoing modelling and interpretation of ACKIO as a whole

Results of the drill fences to the southeast and their implications of mineralization

VIEW BASELODE'S WEBINAR "TECHNICAL UPDATE ON THE ACKIO 20,000 METRE DRILL PROGRAM"

Drill hole highlights include;

AK22-052

: 2,677 cps over

30.0 m

(best individual continuous radioactivity intersection at ACKIO to date) which

includes

4,728 cps over

7.6 m

31.2 m

and a maximum of 12,000 cps over

0.2 m

AK22-065

81.0 m

of composite mineralization comprised of 1,057 cps over

52.3 m

63.8 m

best individual continuous

radioactivity intersection) which includes

2,488 cps over

12.75 m

84.25 m

and a maximum of 15,000 cps over

0.1 m

And 745 cps over

14.75 m

137.25 m

which includes

2,101 cps over

1.55 m

145.1 m

And 819 cps over

7.1 m

167.5 m

which includes

3,139 cps over

0.9 m

173.3 m

and a maximum of 10,250 cps over

0.15 m

AK22-053

: 1,360 cps over

18.6 m

137.4 m

(fifth best individual continuous radioactivity intersection at ACKIO to date) which

includes

3,332 cps over

4.15 m

145.75 m

and a maximum of 8,000 cps over

0.1 m

AK22-063

52.3 m

of composite mineralization comprised of 612 cps over

15.1 m

53.7 m

and 720 cps over

12.8 m

80.85

Drill holes AK22-052 and AK22-053 were follow-up drill holes to AK22-051 which was the first drill hole off the drill pad (2,320 cps

over

30.1 m

27.0 m

depth, see News Release dated

May 31, 2022

). Drilling to the north and west of the these drill holes have

continued to grow near-surface mineralization in these directions. Drill holes are planned to follow-up the western and southern

extents of near-surface mineralization previously identified in drill holes AK22-038 and AK22-041.

Since announcing the start of the Program on

February 9, 2022

(see Company News Release), Baselode has completed 61 drill

holes (AK22-005 to AK22-065) for

17,935.50 m

(see

Figure 1

). Thirty-three of sixty-one drill holes have intersected continuously

elevated radioactivity. A complete list of drill hole collar information and hand-held scintillometer radioactivity composite

measurements for the drill holes reported in this news release (AK22-052 to AK22-065) are provided in

Table 1

Samples from these reported fourteen drill holes have been submitted to the Saskatchewan Research Council's Geoanalytical

Laboratory in

Saskatoon, Saskatchewan

, for whole-rock, multi-element and U

analysis. Uranium assay results will be released

as they are received after being compiled and thoroughly checked by the technical team.

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 is helicopter-supported to lessen any ground-induced environmental impacts within the project area.

FIGURE 1 – Plan map of the ACKIO mineralized surface expressions

TABLE 1 – Drill collar details and continuous composite elevated radioactivity results from drill holes AK22-052 to AK22-065

NOTES:

cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. 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 considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 125 cps.

"Continuous elevated radioactivity" means 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 which have yet to be determined.

"best radioactive intersections" are determined by multiplying the average radioactivity with the reported intersection widths for each drill hole that Baselode has reported on to date.

"best drill holes" are determined by the composite sum of each individual drill hole radioactive intersection as per 5.

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 is focused on discovering near-surface, basement-hosted, high-grade uranium

orebodies outside of 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."

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.sedar.com

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.

SOURCE

Baselode Energy Corp.

View original content:

http://www.newswire.ca/en/releases/archive/June2022/27/c1665.html

%SEDAR: 00044947E

For further information:

Baselode Energy Corp., FIND on the TSXV, [email protected], www.baselode.com; James Sykes,

CEO, President and Director, [email protected], 306-221-8717

CO: Baselode Energy Corp.

CNW 06:48e 27-JUN-22

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