Toronto, Ontario – August 8, 2022 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) (“Baselode” or the “Company”) is pleased to announce the results of its annual general and special meeting of shareholders, which was held yesterday (the “Meeting”). All matters submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular (the “Circular”), dated June 24, 2022, were approved by the requisite majority of votes cast at the meeting as follows:

1. The financial statements of the Company were received and considered together with the auditor's report thereon for the financial ‎year ended December 31, 2021;‎
2. The number of directors was fixed at four (4);
3. ‎The following directors have been elected for the ensuing year: Stephen Stewart, James Sykes, Michael Mansfield and Charles Beaudry;‎
4. McGovern Hurley LLP has been reelected as the Company’s auditor for the ensuing year;‎
5. An ordinary resolution was approved to grant Escrowed Options, as more ‎particularly described in the Circular; and
6. A  new 20% fixed option plan (“Option Plan”) was approved with the reservation of Common Shares and certain amendments as more particularly described in the Circular;

The Board of Directors has also approved the grant of stock options to directors, officers, employees, and consultants of the Company allowing for the acquisition of up to, in the aggregate, 4,000,000 shares of the Company. The options will vest in 12 months and are exercisable at $.80 per share for five years from the date of grant and are subject to regulatory policies.

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.

For further information, please contact:

Baselode Energy Corp.

FIND on the TSXV

www.baselode.com

James Sykes, CEO, President and Director

jsykes@oregroup.ca

306-221-8717

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the TSX Venture Exchange policies) accept 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. Therefore, actual results might differ materially from those 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.