Baselode Energy Corp. announced the receipt of an exploration permit (the "Permit") from Saskatchewan's Ministry of Environment for an additional 50,000 metres of diamond drilling on the ACKIO high-grade uranium discovery ("ACKIO"), Hook project, Athabasca Basin area, northern Saskatchewan. The Company has approximately $20 million in cash and is fully-funded to carry out the expanded drill program.

The drill program is helicopter-supported to lessen any ground-induced environmental impacts within the project area, and will allow the Company to continue the drill program through Spring thaw and into the Summer months. The Permit is effective immediately and expires on December 31, 2023. Baselode remains engaged in positive discussions with the respective Indigenous communities and northern stakeholders for the Hook project.

Baselode is committed to mutually beneficial working relationships with Indigenous and northern communities while mitigating any exploration impacts on traditional Indigenous lands and Rights. 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.