Toronto, Ontario – August 23, 2021 – Baselode Energy Corp. (TSXV: FIND, OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that a drill crew is mobilizing to its Hook Uranium Project (“Hook”).

“We anticipate the drill to start turning this week to test some exciting targets on the Beckett and South Geikie areas of our Hook Project,” said James Sykes, CEO and President of Baselode.

Cameron MacKay, Baselode’s Projects Manager, adds: “Our prospecting field crew identified anomalous radioactive occurrences in outcrop at both the Beckett and South Geikie targets. These anomalies occur at lithological contacts intersected by north-south structures and validate our geophysical interpretations and our working structural model for Hook.”

Planned Drill Program

Baselode anticipates between 10 to 15 drill holes for a total of 2,500 metres, with each drill hole ranging from 150 to 250 metres drill hole depth.  The drill program is planned with helicopter support to achieve broader target area coverage and to lessen any ground-induced environmental impacts within the project area. 

Baselode remains engaged in positive discussions with Indigenous communities and northern stakeholders for its exploration activities and projects. Baselode is committed to mutually beneficial working relationships with Indigenous and northern communities while mitigating any exploration impacts on traditional Indigenous lands and Rights.

About Baselode Energy Corp.

Baselode currently controls 100% of approximately 207,000 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., Projects Manager 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, President and CEO

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.