• New video published detailing uranium targets planned for this drill program
• Multiple untested targets will be drilled with this program
• Drill and crews are on site, ready to start drilling

Toronto, Ontario – February 15, 2024 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) (“Baselode” or the “Company”) is pleased to provide details outlining drill plans for the Catharsis uranium project in northern Saskatchewan’s Athabasca Basin area.

“We have completed extensive work to define Tier 1 target areas that share characteristics with other world-class basement-hosted Athabasca uranium deposits, such as NexGen Energy Ltd. (TSX: NXE) and Denison Mines Corp. (TSX: DML) Arrow and Gryphon deposits, respectively. The Catharsis drill program is ready to start, and our focus is to fast-track discovery by drilling multiple target areas with helicopter support," stated James Sykes, CEO, President, and Director of Baselode.

Please watch the Company’s video (below) for more details about the drill program, including an explanation of target areas, exploration methodologies, and an overview of the Catharsis project.

Catharsis 2024 Exploration Plans

Catharsis Drill Program Details

8 to 10 drill holes for 2,000 metres (“m”) are planned within 4 to 5 different untested target areas (Figure 2). All support staff and equipment, such as diamond drill and helicopter, are on site and the program is ready to start. The Company has received the necessary permits to complete the program.

The logistics support for a high-resolution airborne magnetic and radiometric survey is underway. The survey is planned for over 10,000 line-km with flight lines 50 m apart. 

FIGURE 1 – Bear, Catharsis, Hook & Shadow projects location map. ACKIO uranium prospect identified by yellow circle  

FIGURE 2 – Catharsis project and 2024 diamond drilling target areas A to D (white circles)

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 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.

jsykes@oregroup.ca

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.