BEEP.V · 2024-07-02 12:00:00

Baselode Reports High Levels of Radioactivity Over Wide Intercepts at ACKIO Uranium Project

Exploration Programs

Baselode Reports High Levels of Radioactivity Over Wide

Intercepts at ACKIO Uranium Project



Over 30 metres of continuous radioactivity, such as 907 cps over 34 m, including 9,173 cps over 0.4 m



AK24

118 and AK24

119 returned the widest radioactivity levels in Pod 6



All three drill holes with over 20 metres of cumulative thickness of radioactivity



The second drill for regional exploration targets has now mobilized to site

Toronto, Ontario

(Newsfile Corp.

July 2, 2024)

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF)

Baselode

" or the "

Company

") is pleased to announce radioactivity results from the first three diamond drill

holes within the ACKIO ("

ACKIO

") uranium prospect of the Hook project ("

Hook

") in the Athabasca Basin area of

northern Saskatchewan (

Figure 1

"AK24

119's results rank as one of the top 10 best drill hole radioactivity intersections at ACKIO, making this a

unique drill hole. Previous drill hole AK22

035 intersected 0.54% U

over 7.3 m (

see Baselode News Release

dated September 12, 2022

) in Pod 6, and we are seeing similar levels of radioactivity within AK24

118 and AK24

119 but over broader widths within the same Pod, suggesting mineralization remains open in this area. ACKIO has

continued to deliver encouraging results since the discov

ery in 2021, and we expect more promising results to

follow.

We are equally excited to start the regional exploration phase of our drill program across the Hook project. Our

technical team has done an incredible job of prioritizing prospective target areas along a 25 km

long uranium

fertile structural corridor that

hosts ACKIO and other uranium showings. We eagerly anticipate results from our

exploration efforts in hopes of a new uranium discovery," commented James Sykes, CEO, President, and Director

of Baselode.

Drill Hole Details

Drill holes AK24

117 to AK24

119 were collared to define the extent of mineralization in Pod 6 of ACKIO. See

Figure

for drill hole locations and

Table 1

for drill collar details and scintillometer results.

AK24

117 intersected three lenses of continuous radioactivity with greater than 6 m drill hole widths between

117.25 and 151.6 m, ranking this drill hole as the second thickest sequence of radioactivity in Pod 6 area after

AK24

119.

AK24

118 intersected an average radioactivity result (1,115 cps*) similar to that of AK22

035's uranium

intersection mentioned above but with almost twice the width (13.3 m).

AK24

119 intersected continuous radioactivity with 907 cps over 34 m, including a zone of higher radioactivity

measuring 2,328 cps over 6.6 m from 142.35 m making this the broadest intersection with the highest average

radioactivity in Pod 6.

ACKIO Program Details

Up to 12,000 metres of drilling is planned at ACKIO, subject to drill results, targeting

the southeast zone, where geophysical survey results suggest the alteration and structural system trend

east/southeast

west/northwest,

ii.

unconformity

style mineralization along the Athabasca sandstone structural contact to the southeast,

and;

iii.

the depth of mineralized structures based on geochemical trends and alteration pathways.

The first diamond drill has completed initial definition drilling at ACKIO and has now moved onto targeting the

depth potential of the mineralized structures.

Hook Program Details

A second drill has been mobilized to Hook and will be drilling shortly. The regional Hook exploration drill program is

planned for up to 4,000 metres with 15 to 20 drill holes targeting 5 to 7 different areas. The target areas were

generated from combinati

ons of multiple geophysical data sets including recent results from ground gravity and

ANT geophysical surveys. Once the drill has completed Hook exploration drilling, it will join the ACKIO program to

complete drilling there.

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.

About Baselode Energy Corp.

Baselode controls 100% of approximately 272,804 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 3

2 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 Instr

ument 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 materiall

y 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

statement

s 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 Basel

ode 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 a

n exemption from such registration is available.

FIGURE 1

Baselode projects location map. ACKIO uranium prospect identified with yellow circle.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6412/215201_0f6d7bf47495886b_007full.jpg

FIGURE 2

ACKIO Drill Hole Locations

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6412/215201_0f6d7bf47495886b_010full.jpg

TABLE 1

Drill Hole Collar Details and Scintillometer Results

DDH

Target

Area

Location

East

North

Elevation

Az.

Dip

EOH

Radioactivity (>300

cps)

Assay

Results

(>0.05

wt% U

)

AK24

117

ACKIO

Pod 6

Centre

227

368 cps over 0.45 m

at 74.4 m

Assay

results

pending

301 cps over 1.8 m at

108.3 m

Assay

results

pending

409 cps over 6.25 m

at 117.25 m

Assay

results

pending

426 cps over 12.55

m at 128.1 m

Assay

results

pending

327 cps over 6.4 m at

145.2 m

Assay

results

pending

399 cps over 0.65 m

at 160.95 m

Assay

results

pending

AK24

118

ACKIO

Pod 6

Edge

118

257

456 cps over 0.8 m at

89.3 m

Assay

results

pending

350 cps over 0.5 m at

92.7 m

Assay

results

pending

392 cps over 2.6 m at

119.1 m

Assay

results

pending

315 cps over 3.1 m at

131.8 m

Assay

results

pending

1,115 cps over 13.3

m at 149.3 m

Assay

results

pending

AK24

119

ACKIO

Pod 6

Edge

230

300 cps over 8.5 m at

109.5 m

Assay

results

pending

907 cps over 34.05

m at 131.1 m

Assay

results

pending

Includes

9,173 cps over 0.4 m

at 144.6 m

Assay

results

pending

3 DDH

714

3 DDH

0 DDH

NOTES: East and North units are metres using NAD83 datum, UTM Zone 13N

Elevation is recorded as "metres above sea level"

Az. = Azimuth, EOH = End of hole (measured in metres)

Composite radioactivity results use 300 cps cut

off and do not contain greater than 2.0 m

consecutive dilution

Composite radioactivity results for "Includes/And Includes" use 5,000 cps cut

off and do not

contain greater than 2.0 m consecutive dilution

To view the source version of this press release, please

visit

https://www.newsfilecorp.com/release/215201

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