Baselode Confirms New Uranium Mineralization at Depth at ACKIO, Mineralization Remains Open

AK23-88: 0.32% over 16.5 m at 184 m drill hole depth, including 0.53% over 3.0 m and 0.75% over 1.5 m (best uranium intersection beneath 150 m depth) Mineralization remains open at depthAssays from 25 remaining drill holes on this program are pending Toronto, Ontario–(Newsfile Corp. – September 20, 2023) – Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (“Baselode” or the “Company”) is pleased to announce uranium (“U3O8”) assay results from 11 drill holes (AK23-81 to AK23-91) of the 7,500 m diamond drilling program (the “Program”) targeting the deepest parts of the ACKIO high-grade uranium system (“ACKIO”) on the Hook project (“Hook” or the “Project”). The assays reported herein are all from the deepest drilling at ACKIO. Baselode anticipates, based on previously released radioactivity results, to release even more encouraging results from shallower intersections with pending assay results from 25 drill holes remaining. “The results from the deep targets in drill holes AK23-88 and AK23-82 clearly demonstrate mineralization remains strong and open at depth as we attempt to connect the near-surface mineralization with these new zones at depth. The assay results from hole AK23-88 rank it is a top-ten drill hole at ACKIO. In particular, AK23-88 intersected 4 individual high-grade uranium lenses, including 0.53% over 3.0 m and 0.75% over 1.5 m, while holes AK23-84 through AK23-88 demonstrate continuity of higher grades of mineralization at depth. ACKIO is a robust uranium system with shallow mineralization extending deep and remains open for additional discovery potential,” said James Sykes, CEO, President and Director of Baselode.ACKIO Drill Program Details36 drill holes over 7,512 metres (“m”) were completed. Within this, ACKIO consisted of 30 drill holes for 6,193 m, Mirror consisted of 5 drill holes for 1,145 m (AK23-105 to AK23-109), and 1 drill hole (HK23-008) for 174 m was completed on a regional exploration target (Figure 1, Table 1).Drill holes AK23-90 and AK23-91 confirmed mineralization starting at 72 m and 82 m below surface, respectively, demonstrating shallow mineralization is prevalent in other Pods at ACKIO.The remainder of the drill hole assay results were all intersected between 130 and 225 m beneath the surface, demonstrating uranium mineralization is prevalent at depth at ACKIO and is not restricted to shallow mineralization. Mineralization remains open at depth and provides a target for future drill programs.Four of the reported drill holes (AK23-84 to AK23-88, excluding AK23-87) all intersected high-grade uranium mineralization (i.e., >0.50% U3O8) over a minimum width of 0.5 m core length. These results continue to demonstrate high-grade uranium occurs at depth ACKIO.Three drill holes (AK23-82, AK23-86, AK23-88) all intersected continuous mineralization over 10 m core length, demonstrating thick mineralized zones at depth. Geochemical U3O8 assay results from drill holes AK23-81 to AK23-91 were provided by Saskatchewan Research Council’s Geoanalytical Laboratory (“SRC”) 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 twenty-five drill holes will be released after being compiled and thoroughly quality 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 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.NOTES: All reported drill hole lengths do not represent true thicknesses which have yet to be determined.* “High-grade uranium mineralization” is defined by the Company as any result with >0.50% U3O8 over a minimum of 0.25 m drill hole interval.About Baselode Energy Corp.Baselode controls 100% of approximately 264,172 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.The Company discovered the ACKIO near-surface, high-grade uranium deposit in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 11 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 120 m. ACKIO remains open to the west, north, south, and along the Athabasca sandstone unconformity to the east and south.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 StatementThe 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:Baselode Energy Corp. FIND on the TSXVinfo@baselode.comwww.baselode.comJames Sykes, CEO, President and Directorjsykes@oregroup.ca306-221-8717Neither 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 – Surface projections of modeled ACKIO uranium mineralization, drill hole collar locations and traces for AK23-81 to AK23-91  To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6412/181330_31f4455a24de3b9b_005full.jpg  TABLE 1 – Drill collar details, continuous composite elevated radioactivity results, and uranium assay results (U3O8) from drill holes AK23-81 to AK23-91 DDHTarget AreaLocationEastNorthElevationAz.DipEOHRadioactivity (>300 cps)Assay Results (>0.05 wt% U3O8)AK23-81ACKIOPod 4 – Edge5261706372857466247-65195400 cps over 0.2 m at 178.1 mNo significant Results417 cps over 0.5 m at 179.35 m0.06% over 0.5 m at 179.5 mAK23-82ACKIOPod 5 – Edge5261706372857466248-80240300 cps over 0.2 m at 84.1 mNo significant Results368 cps over 9.3 m at 151.3 m0.09% over 8.0 m at 151.0 m1Pod 4 – Edge356 cps over 7.8 m at 195.75 m0.09% over 11.1 m at 195.5 m319 cps over 0.25 m at 206.1 m316 cps over 6.5 m at 215.1 m0.16% over 5.45 m at 215.0 m2300 cps over 0.15 m at 229.15 m0.07% over 0.15 m at 229.15 mAK23-83ACKIOPod 4 – Edge5261706372857466248-57201748 cps over 4.35 m at 158.65 m0.19% over 4.5 m at 158.5 mAK23-84ACKIOPod 5 – Edge265-72240588 cps over 18.15 m at 147.4 m0.29% over 4.1 m at 147.4 m3includes0.70% over 0.5 m at 149.0 m0.19% over 6.5 m at 154.0 mand includes0.65% over 0.5 m at 155.0 m0.08% over 2.0 m at 162.5 m313 cps over 2.9 m at 167.85 m0.17% over 0.5 m at 170.0 mPod 4 – Centre329 cps over 0.55 m at 185.7 mNo significant Results518 cps over 2.05 m at 188.6 m0.09% over 1.0 m at 188.5 mAK23-85ACKIO5261706372857466265-54210450 cps over 0.05 m at 161.1 mNo significant ResultsPod 4 – Edge797 cps over 2.5 m at 163.2 m0.14% over 2.7 m at 163.0 m657 cps over 5.6 m at 168.25 m0.15% over 3.5 m at 168.5 mincludes0.54% over 0.55 m at 168.5 mAK23-86ACKIOPod 5 – Edge5262276372821467242-60210320 cps over 0.2 m at 175.85 m0.14% over 11.0 m at 176.0 m320 cps over 0.2 m at 176.25 mPod 4 – Centre508 cps over 7.1 m at 179.6 mincludes0.93% over 0.9 m at 182.6 m4326 cps over 1.0 m at 189.8 m0.11% over 1.0 m at 189.5 mAK23-87ACKIOPod 4 – Edge5262276372821467247-54201No Significant ResultsNo significant ResultsAK23-88ACKIOPod 8 – Edge255-65225300 cps over 0.35 m at 115.1 mNo significant Results300 cps over 0.15 m at 117.0 mNo significant ResultsPod 5 – Edge600 cps over 4.6 m at 172.4 m0.38% over 4.5 m at 172.5 m5includes0.53% over 3.0 m at 174.0 m6361 cps over 0.85 m at 180.5 m0.06% over 1.0 m at 180.5 mPod 4 – Centre759 cps over 21.8 m at 184.1 m0.32% over 16.5 m at 184.0 mincludes6,000 cps over 0.1 m at 186.75 m0.69% over 1.55 m at 185.45 mand includes0.73% over 0.5 m at 190.0 mand includes0.75% over 1.5 m at 193.5 mAK23-89ACKIOPod 5 – Edge5262276372821467262-57213300 cps over 0.1 m at 172.05 mNo significant ResultsNo Significant Results0.11% over 0.1 m at 181.35Pod 4 – Centre353 cps over 0.45 m at 189.6 m0.08% over 0.5 m at 189.5 mAK23-90ACKIOPod 3 – Edge5262276372821467235-70234305 cps over 2.7 m at 76.85 m0.06% over 2.5 m at 77.0 mPod 4 – Edge351 cps over 4.5 m at 195.35 m0.08% over 3.5 m at 195.0 m656 cps over 1.15 m at 202.15 m0.14% over 1.5 m at 202.0 mAK23-91ACKIOPod 3 – Edge5262276372821467235-75205317 cps over 2.65 m at 82.65 m0.08% over 0.5 m at 85.0 m11 DDH2,37410 DDH10 DDHNOTES: East and North units are metres using NAD83 datum, UTM Zone 13NElevation 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 dilutionComposite U3O8 results use 0.05% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.05% U3O8)”includes/and includes” are composite U3O8 results using 0.50% U3O8 cut-off and do not contain greater than 2.0 m consecutive dilution (i.e., dilution is <0.50% U3O8)1includes 1.25 m core loss over interval length2includes 0.9 m core loss over interval length3includes 0.6 m core loss over interval length4includes 0.3 m core loss over interval length5includes 0.9 m core loss over interval length6includes 0.9 m core loss over interval length To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181330