Baselode Closes Final Tranche, Securing Full Proceeds of $5 Million

Baselode Closes Final Tranche, Securing Full Proceeds of $5 Million

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the closing of a final tranche of its previously announced non-brokered private placement (the "Offering"). Under the final tranche, the Company sold 870,000 flow-through units of the Company (the "FT Units") at a price of C$0.48 per FT Unit for gross proceeds to the Company of C$417,600.00 (the "Offering").

Each FT Unit consists of one common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share (each, a "Warrant Share") at a price of C$0.70 at any time on or before June 8th, 2025. The FT Shares and Warrant Shares will be subject to a hold period of four months expiring on October 10th, 2023 in accordance with applicable securities laws.

The Company intends to use the proceeds raised from the Offering for exploration of the Company's projects in the Athabasca Basin. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2023, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

In connection with the final tranche of the Offering, the Company paid total cash commissions of C$25,056.00 and issued 52,200 compensation warrants (each, a "Compensation Warrant"). Each Compensation Warrant entitles the holder thereof to purchase one common share of the Company at a price of C$0.48 at any time on or before June 9th, 2025.

The securities described herein 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

About Baselode Energy Corp.

Baselode controls 100% of approximately 264,172 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The Company discovered the ACKIO near-surface, high-grade uranium deposit in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 5 separate zones, with mineralization starting as shallow as 28 m beneath the surface and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 200 m. ACKIO remains open to the west, south, and along the Athabasca sandstone unconformity to the east and south.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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.

For further information, please contact:

Baselode Energy Corp.
FIND on the TSXV
info@baselode.com
www.baselode.com

James Sykes, CEO, President and Director
jsykes@oregroup.ca
306-221-8717

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169476

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Baselode Doubles Drill Program for Catharsis Uranium Project

Baselode Doubles Drill Program for Catharsis Uranium Project

  • The drill program will double in size to 4,000 metres
  • Three new target areas will be added
  • Baselode is seeking another grassroots discovery on Catharsis
  • Early drilling has encountered anomalous radioactivity, strong alteration, and encouraging redox-style alteration within brittle structures

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that it will increase the ongoing drill program on the Catharsis uranium project ("Catharsis") to 4,000 metres. Early drilling has shown encouraging signs that warrant the additional investment.

"Our first drill hole of this program intersected anomalous radioactivity* within a structural corridor at a favourable lithologic contact. These are important similarities with other uranium deposits. Subsequent drill holes followed the radioactivity up-dip (Figure 3) and intersected quartz-hematite oxidized fluid systems with redox-style and clay alteration characteristics reminiscent of high-grade uranium deposits (see Figures 4, 5 & 6). We will continue drilling the target area down-dip of the radioactivity, and along strike from it. We are encouraged by the results and have decided to increase our Program. We will drill more target areas than previously announced to test for near-surface, high-grade uranium deposits," stated James Sykes, CEO, President, and Director of Baselode.

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Baselode Ready to Start Drilling at Catharsis Uranium Project

Baselode Ready to Start Drilling at Catharsis Uranium Project

  • New video published detailing uranium targets planned for this drill program
  • Multiple untested targets will be drilled with this program
  • Drill and crews are on site, ready to start drilling

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide details outlining drill plans for the Catharsis uranium project in northern Saskatchewan's Athabasca Basin area.

"We have completed extensive work to define Tier 1 target areas that share characteristics with other world-class basement-hosted Athabasca uranium deposits, such as NexGen Energy Ltd. (TSX: NXE) and Denison Mines Corp. (TSX: DML) Arrow and Gryphon deposits, respectively. The Catharsis drill program is ready to start, and our focus is to fast-track discovery by drilling multiple target areas with helicopter support," stated James Sykes, CEO, President, and Director of Baselode.

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Baselode Closes Bought Deal Financing

Baselode Closes Bought Deal Financing

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the closing of its previously announced "bought deal" private placement (the "Offering") for aggregate gross proceeds of C$6,000,000, which includes the full exercise of the Underwriter's (as defined herein) over-allotment option for gross proceeds of C$1,000,000. Under the Offering, the Company sold the following:

  • 2,222,222 units of the Company (each, a "Unit") at a price of C$0.45 per Unit for gross proceeds of C$1,000,000 from the sale of Units; and
  • 7,692,308 flow-through units of the Company that were sold to charitable purchasers (each, a "Charity FT Unit", and collectively with the Units, the "Offered Securities") at a price of C$0.65 per Charity FT Unit for gross proceeds of C$5,000,000 from the sale of Charity FT Units.

Red Cloud Securities (the "Underwriter") acted as sole underwriter and bookrunner under the Offering.

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Baselode Provides 2024 Exploration Plans for Athabasca Basin Area Uranium Projects

Baselode Provides 2024 Exploration Plans for Athabasca Basin Area Uranium Projects

  • $12,000,000 for uranium delineation and exploration committed for 2024
  • Four drill programs planned across Baselode's Uranium Project Portfolio
  • The first drill program is scheduled to begin in 2 weeks

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to provide the 2024 exploration plans for the Company's Bear, Catharsis & Hook uranium projects in northern Saskatchewan's Athabasca Basin area (the "Basin").

"We are fully financed for the Company's largest exploration programs on our Bear, Catharsis, and Hook projects. Our strategy entails a substantial allocation of resources toward discovering new deposits within our 264,000-hectare package. Our team has spent months of preparation to hone in on promising exploration targets with significant potential for discovery. Additionally, we will be expanding the ACKIO discovery near-surface zones. For the first time, we'll also target ACKIO at depth, utilizing cutting-edge ANT technology that could give this project a whole new dimension. We are excited for an aggressive exploration program with the drills starting in a matter of weeks," stated James Sykes, CEO, President, and Director of Baselode.

For more details on the Company's 2024 drill programs and geophysical targets, please watch this video:

Catharsis Drill Program Details
8 to 10 drill holes for 2,000 metres ("m") are planned for 5 different untested target areas. The program is scheduled to start Mid-February. A 10,000 line km high-resolution airborne magnetics and radiometrics survey is planned concurrently with the drill program. The Company has received the necessary permits to complete the program and base camp of operations is currently being installed.

Bear Drill Program Details
6 to 8 drill holes for 1,500 m are planned for 1 to 2 untested target areas. The program is scheduled to start in May. A 2,000 line km gravity and magnetics airborne survey is planned for later in the year. Exploration permits are pending but expected shortly.

ACKIO (Hook) Drill Program Details
35 to 50 drill holes for 12,000 m are planned for delineation and exploration along strike and depth of the ACKIO mineralized structure. The program is scheduled to start early June. In May, the Company will deploy "Exosphere By Fleet®", an innovative high-resolution ground-based, satellite-connected ambient noise tomography ("ANT") survey. The survey will be completed over ACKIO and interpreted prior to diamond drilling. The Company has received the necessary permits to complete the program.

Hook Drill Program Details
16 to 20 drill holes for 4,000 m are planned for five different untested target areas outside of 1 km radius from ACKIO. The program is scheduled to start mid-June. The Company has received the necessary permits to complete the program.

About Baselode Energy Corp.
Baselode controls 100% of approximately 264,172 hectares for exploration in the Athabasca Basin area of northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

The Company discovered the ACKIO near-surface, uranium prospect in September 2021. ACKIO measures greater than 375 m along strike, greater than 150 m wide, comprised of at least 9 separate uranium Pods, with mineralization starting as shallow as 28 m and 32 m beneath the surface in Pods 1 and 7, respectively, and down to approximately 300 m depth beneath the surface with the bulk of mineralization occurring in the upper 120 m. ACKIO remains open at depth, and to the north, south and east.

Baselode's Athabasca 2.0 exploration thesis focuses on discovering near-surface, basement-hosted, high-grade uranium orebodies outside 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:

James Sykes, CEO, President and Director
Baselode Energy Corp.
jsykes@oregroup.ca
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.sedarplus.ca.

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.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/6412/195968_baselodefigure1_550.jpg

FIGURE 1 - Bear, Catharsis, Hook & Shadow projects location map. ACKIO uranium prospect identified by yellow circle.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6412/195968_baselodefigure1.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195968

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Baselode Announces C$5.0 Million Bought Deal Private Placement

Baselode Announces C$5.0 Million Bought Deal Private Placement

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc. (the "Underwriter"), as sole underwriter and bookrunner, pursuant to which the Underwriter has agreed to purchase for resale the following on a "bought deal" private placement basis for gross proceeds of up to C$5,000,000 (the "Underwritten Offering"):

  • 2,222,222 units of the Company (each, a "Unit") at a price of C$0.45 per Unit for gross proceeds of C$1,000,000 from the sale of Units; and

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Global Uranium Mining Output Expected To Rise 11.7% in 2024 Due To Kazakh and Canadian Growth

Global Uranium Mining Output Expected To Rise 11.7% in 2024 Due To Kazakh and Canadian Growth

FN Media Group News Commentary - The Global Uranium production is projected to grow this year and in the years to come. A report in Mining Technology said that the Global uranium production is expected to grow by 11.7% to more than 60.3 megatonnes (Mt) in 2024. The increase will predominantly be fueled by rising output from key producers such as Kazakhstan and Canada. Kazakhstan is expected to deliver the highest uranium production growth in 2024, driven by the planned higher output from the country's largest uranium producer, Kazatomprom . The continuous ramp-up of Canada's McArthur River uranium mine will also contribute to the global increase. The report added: "Uranium output to rise 11.7% in 2024 due to Kazakh and Canadian growth… and production will be bolstered by the ramp-up of Canada's McArthur River mine. Kazakhstan accounted for 37.3% (20.1kt) of total global uranium supply in 2023. Despite a 5.1% dip in output in 2023 due to planned lower production from Kazatomprom, its output is expected to recover in 2024, with forecast production of 23.2kt. This will be supported by the company's plan to produce between 21.2 kilotonnes (kt) and 21.6kt on a 100% basis, while production is expected to increase to between 25.9 and 26.7kt with no restrictions in 2025." Active mining companies in the markets this week include Stallion Uranium Corp. (OTCQB: STLNF) (TSX-V: STUD), enCore Energy Corp. (NASDAQ: EU), Skyharbour Resources Ltd.'s (OTCQX: SYHBF) (TSX-V: SYH), Uranium Energy Corp (NYSE American: UEC), ATHA Energy Corp. (OTCQB: SASKF) (TSX.V: SASK).

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Purepoint Uranium Initiates Airborne Magnetotellurics at Russell South and Outlines Upcoming Announcements

Purepoint Uranium Initiates Airborne Magnetotellurics at Russell South and Outlines Upcoming Announcements

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today initiated an airborne Mobile Magnetotellurics ("MobileMT") survey, including total field magnetic and VLF, at their Russell South Uranium Project which lies on the south-eastern edge of the Athabasca Basin, Saskatchewan Canada.

"Russell South is 20 kms east-northeast of Cameco's Key Lake mine and adjoins prominent uranium projects including Rio Tinto's Russell Lake property and Skyharbour Resources Inc's Moore Lake project" said Scott Frostad, VP Exploration at Purepoint. "Our previous airborne gravity survey results outlined four high-value target regions on the project and the planned MobileMT resistivity results will allow us to further develop those drill targets."

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Skyharbour's Partner Company North Shore Uranium Completes Maiden Drill Program and Identifies Elevated Radioactivity, Fault Zones and Alteration at Falcon Project

Skyharbour's Partner Company North Shore Uranium Completes Maiden Drill Program and Identifies Elevated Radioactivity, Fault Zones and Alteration at Falcon Project

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has completed a maiden drill program at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan.

Location Map of Falcon Project:
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1

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Skyharbour's Partner Azincourt Energy Begins Mobilizing for Winter Drill Program at East Preston Uranium Project

Skyharbour's Partner Azincourt Energy Begins Mobilizing for Winter Drill Program at East Preston Uranium Project

Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company") partner company Azincourt Energy ("Azincourt"), is pleased to announce that mobilization is set to begin later this week for the 2024 winter drill program at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada.

Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://skyharbourltd.com/_resources/maps/Sky_EastPreston_20231219.jpg

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Skyharbour's Partner Company North Shore Uranium Commences Drill Program at Falcon Uranium Property

Skyharbour's Partner Company North Shore Uranium Commences Drill Program at Falcon Uranium Property

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has commenced its drill program at the Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. North Shore is planning to drill three targets associated with electromagnetic ("EM") conductors. Information pertaining to the drill program and a summary of the Property were provided by the Company on February 28, 2024 and December 19, 2023.

Location Map of Falcon Project:
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1

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North Shore Uranium Commences Falcon Property Drill Program

North Shore Uranium Commences Falcon Property Drill Program

North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce that it has mobilized and commenced its drill program at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. The Company is planning to drill three targets associated with electromagnetic ("EM") conductors. Information pertaining to the drill program and a summary of the Property were provided by the Company on February 28, 2024 and December 19, 2023

The drill program is being managed by TerraLogic Exploration Inc. The final three targets selected for drilling, which lie along a strong, dominantly northeast-trending EM conductor system, are shown in Figure 1. For each target, a subsurface geophysical model of the EM conductor has been prepared and a hole, which is drilled at an angle, has been designed to intersect the conductor. The program is expected to last approximately ten days with final sample results expected approximately four weeks after the end of the program.

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