Kraken Energy Corp. reported that the ongoing radon survey conducted at its 100%-owned Apex Uranium Property in Central Nevada has successfully identified multiple additional priority drill targets located on Bureau of Land Management "BLM" ground west and along trend of the historic Apex Uranium Mine. 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. Highlights: Strong radon anomalies coincident with geophysical signatures outlining the mineralized contact at the historic Apex Uranium Mine; Over 2 km of high priority target potential has been identified on the newly 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).

Notice of Intent (NOI) has been submitted to the BLM to drill up to 2,200 m (7217 ft) in 24 holes from 8 pads with an objective to commence drilling before the end of 2023.