Kraken Energy Corp. reported that it has commenced the inaugural drill program at its 100%-owned, past-producing flagship Apex Uranium Property (the Property) located in central Nevada. The 2,200-meter ("m") drilling program will target a mineralized area over 2 kilometers ("km") in strike length consisting of two separate target areas immediately along strike from the past- producing Apex Mine.

The Company has received approval to initially drill up to 2,200 m (7,217 ft) in 24 holes from 8 pads. Highlights: Priority drill targets over strong radon anomalies coincide with geophysical signatures outlining the mineralized contact at the historic Apex Uranium Mine. The BLM has approved permit to drill up to 2,200 m (7,217 ft) in 24 holes from 8 pads.

Interpretation of the recently flown VTEM and UAV magnetic surveys shows a geophysical signature associated with uranium mineralization at the Apex Mine that appears to be offset to the north where it continues trending northwest. This geophysical signature coincides with strong and consistent, recently identified radon anomalies. Over 2 km of new high priority target potential has been identified on the recently staked BLM ground that follows the northwest mineralized trend from the Apex Mine.

Newly defined and previously undrilled target area with projected target depths ranging from 50 m to 200 m (164 ft to 656 ft).