Toronto, Ontario – February 9, 2022 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that a 10,000 metre diamond drilling program has started on the high-grade uranium ACKIO discovery (“ACKIO”), Hook project (“Hook”), Athabasca Basin area, northern Saskatchewan.

“Since the ACKIO discovery in September, we’ve been eagerly anticipating this aggressive drill program to provide us with a better understanding of the ACKIO uranium mineralization system.  In the four holes completed last year, we intersected a massive hydrothermal alteration envelope proving fertile for high-grade uranium deposition.  ACKIO’s mineralization remains open in all directions, and the objective of this program is to drill 50 metre continuous step-out holes to the north and south along strike of known high-grade mineralization. We will also test the sandstone for unconformity-style of mineralization and sub-parallel mineralized trends to the east,” said James Sykes, CEO, President and Director of Baselode. 

The 10,000 metre diamond drill program is helicopter supported to lessen any ground-induced environmental impacts within the project area. 

Baselode intends to release drill core radioactivity results as a prelude to uranium assay results on a bi-monthly schedule.  Uranium assay results will be released as they are received after being compiled and thoroughly checked by the technical team.

ACKIO is located 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. 

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.”

For further information, please contact:

Baselode Energy Corp.

FIND on the TSXV

James Sykes, CEO, President and Director

jsykes@uraniumgeologist.com

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.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.