Baselode Energy Announces Flow-Through Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./

Baselode Energy Corp. (" Baselode " or the " Company ") (TSXV: FIND) is pleased to announce a non-brokered private placement of up to 2,500,000 flow-through units (the "FT Units") of the Company at a price of C$0.40 per FT Unit for gross proceeds of up to C$1.0 million (the "Offering"). Each FT Unit shall be comprised of one flow-through share in the capital of the Company (each a "FT Share") and one half of one Common Share purchase warrant (each a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of C$0.60 at any time on or before the date, which is 24 months after the Offering's closing date. Red Cloud Securities Inc. will be acting as a finder on behalf of the Company in connection with the Offering.

The Offering's net proceeds will be used for exploration work at the Company's Shadow and Hook project s. Both projects are testing for near-surface, basement-hosted, high-grade uranium targets in the Athabasca Basin area of northern Saskatchewan, Canada .

The closing of the Offering, which is expected to occur on or before December 14, 2020 , is subject to receipt of all necessary regulatory approvals, including the approval of the listing of the common shares on the TSX Venture Exchange. The Offering securities issuable will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

The securities offered 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

Baselode is a uranium exploration company focused on discovering a uranium orebody in the Athabasca Basin area in Saskatchewan, Canada .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 filings by the Company with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com .

SOURCE Baselode Energy Corp.

View original content: https://www.newswire.ca/en/releases/archive/November2020/26/c2203.html

News Provided by Canada Newswire via QuoteMedia

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Highlights:

Results continue to demonstrate the potential to link the Huarabagoo and Junnagunna uranium deposits
- HJ24DD017 – 25.00m @ 393.64 ppm (0.04%) U ₃ O ₈ from 15.00m ,
  - including 1.00m @ 1,015.29 ppm (0.10%) U ₃ O ₈ from 28.00m
  - and 1.00m @ 2,128.46 ppm (0.21%) U ₃ O ₈ from 34.00m
- HJ24DD019 – 6.00m @ 1,177.43 ppm (0.12%) U ₃ O ₈ from 87.00m ,
  - including 4.00m @ 1,520.58 ppm (0.15%) U ₃ O ₈ from 89.00m
Uranium mineralisation at Huarabagoo continues to deliver impressive results including:
- HB24DD010 – 15.60m @ 2,237.03 ppm (0.22%) U ₃ O ₈ and 0.53 g/t Au from 68.40m ,
  - including 1.00m @ 2,264.06 ppm (0.23%) U ₃ O ₈ and 0.23 g/t Au from 70.00m
  - and 7.00m @ 4311.16 ppm (0.43%) U ₃ O ₈ and 0.10 g/t Au from 76.00m
  - with highest intercept result of 1.00m @ 1.42% U ₃ O ₈ and 0.01 g/t Au from 80.00m
Broad zones of gold mineralisation were also intercepted with grades up to 24.2g/t Au
- HB24DD008 – 19.00m @ 620.58 ppm (0.06%) U ₃ O ₈ and 1.95 g/t Au from 48.00m ,
  - including 2.00m @ 1,720.45 ppm (0.17%) U ₃ O ₈ and 1.64 g/t Au from 57.00m
  - and 2.00m @ 2,202.16 ppm (0.22%) U ₃ O ₈ and 12.39 g/t Au from 64.00m
  - with highest intercept result of 1.00m @ 2,299.44 ppm (0.22%) U ₃ O ₈ and 24.20g/t Au from 65.00m
- HB24DD006 – 8.00m @ 1,449.86 ppm (0.14%) U ₃ O ₈ & 0.22 g/t Au from 36.00m ,
  - including 1.70m @ 6,208.83 ppm (0.62%) U ₃ O ₈ & 0.78 g/t Au from 37.60m .
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News Provided by Canada Newswire via QuoteMedia

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Table 1: Significant intercepts >100ppm U ₃ O ₈
Hole number	From	To	Length (m)	U ₃ 0 ₈ ppm	Au g/t
HB24DD005	47	50	3	371.49	0.18
HB24DD005	55.4	63	7.6	162.71	0.03
HB24DD005	70	74	4	150.17	0.01
HB24DD005	103	111	8	102.27	0.01
HB24DD006	30	33	3	307.07	0.15
HB24DD006	36	44	8	1449.86	0.22
including	37.3	39	1.7	6208.83	0.78
HB24DD006	79	80	1	155.06	0.02
HB24DD007	60	76	16	2151.24	0.01
including	60	72	12	2816.22	0.01
HB24DD007	80	82	2	192.50	0.03
HB24DD007	86	87	1	121.46	0.01
HB24DD008	33	34	1	101.88	0.01
HB24DD008	40	42	2	222.28	0.02
HB24DD008	48	67	19	620.58	1.95
including	57	59	2	1720.45	1.64
and	64	66	2	2202.16	12.39
HB24DD008	73	74	1	190.44	0.23
HB24DD008	81	84	3	487.72	0.03
including	83	84	1	1084.86	0.04
HB24DD009	58	62	4	236.11	0.04
HB24DD009	76	77	1	116.27	0.01
HB24DD009	78	79	1	153.30	0.01
HB24DD010	15	17	2	574.86	0.15
including	15	16	1	1007.04	0.25
HB24DD010	33	41.3	8.3	336.50	0.08
including	40	41.3	1.3	1379.66	0.35
HB24DD010	44	47	3	1339.85	1.18
including	44	45.65	1.65	2191.03	0.96
HB24DD010	53.25	62	8.75	1115.03	1.44
including	53.25	56.1	2.85	2785.70	0.22
HB24DD010	68.4	84	15.6	2237.03	0.53
including	70	71	1	2264.06	0.23
and	76	83	7	4311.16	0.10
with ^#	80	81	1	1.42 %	0.01
HB24DD010	88	89	1	131.48	0.01
HJ24DD014	25.55	27	1.45	180.42	0.01
HJ24DD014	79	80	1	310.13	0.01
HJ24DD014	125	126	1	113.20	0.02
HJ24DD015	95	96	1	321.92	0.40
HJ24DD015	101	103	2	191.03	0.10
HJ24DD015	133	135	2	1229.32	0.02
including	133	135	2	1229.32	0.02
HJ24DD016	69.35	73	3.65	772.12	0.12
including	69.35	70.15	0.8	1285.33	0.15
and	71	72	1	1044.77	0.14
HJ24DD016	76	87	11	229.76	0.02
HJ24DD016	104.4	106	1.6	130.89	0.01
HJ24DD017	15	40	25	393.64	0.01
including	28	29	1	1015.29	0.01
and	34	35	1	2128.46	0.01
HJ24DD017	48	49	1	128.53	0.01
HJ24DD017	51	52	1	142.68	0.01
HJ24DD017	68	69	1	114.85	0.01
HJ24DD017	72	78	6	161.69	0.01
HJ24DD018	21	22	1	277.11	0.01
HJ24DD018	29	32	3	477.18	0.01
HJ24DD018	106	115	9	770.03	0.05
including	111	113	2	2953.90	0.18
HJ24DD019	87	93	6	1177.43	0.04
including	89	93	4	1520.58	0.01
HJ24DD020	70	71	1	199.87	0.01
HJ24DD020	95.55	100	4.45	163.33	0.01
HJ24DD020	104	108	4	196.04	0.01
HJ24DD020	113	114	1	178.65	0.01
HJ24DD020	119	120	1	203.41	0.01
HJ24RC016	35	40	5	176.13	0.01
HJ24RC016	43	44	1	114.62	0.01
HJ24RC016	48	51	3	195.16	0.01
HJ24RC016	62	63	1	109.90	0.01
HJ24RC017	22	23	1	120.87	0.01
HJ24RC018	No significant intercepts to report
HJ24RC019	14	19	5	166.08	0.01

Table 2: Significant intercepts >0.1 g/t Au
Hole number	From	To	Length (m)	U ₃ 0 ₈ ppm	Au g/t
HB24DD005	47	47.7	0.7	233.48	0.51
HB24DD005	48.85	50	1.15	749.97	0.13
HB24DD005	55.4	56	0.6	244.09	0.10
HB24DD006	32	33	1	274.75	0.35
HB24DD006	37.3	39	1.7	6208.83	0.78
HB24DD006	43	44	1	341.97	0.21
HB24DD006	82	83	1	38.68	0.48
HB24DD006	86	87	1	58.25	0.43
HB24DD007	21	22	1	17.92	0.36
HB24DD008	48	51	3	343.34	0.46
HB24DD008	57	60.15	3.15	1220.21	1.10
including	57	58	1	2185.06	2.89
with	57.6	58	0.4	3631.94	5.96
HB24DD008	64	71	7	781.46	4.60
including	64	67	3	1733.42	10.60
with ^#	65	66	1	2299.44	24.2
HB24DD008	73	74	1	190.44	0.23
HB24DD008	79	80	1	30.66	0.10
HB24DD010	15	16	1	1007.04	0.25
HB24DD010	40	41.3	1.3	1379.66	0.35
HB24DD010	44	62	18	778.72	1.34
including	44	47	3	1339.85	1.18
with	52	53.25	1.25	54.01	5.51
including	56.1	60	3.9	259.61	2.92
with	56.1	58	1.9	139.39	5.41
HB24DD010	70	71	1	2264.06	0.23
HB24DD010	73	77	4	855.21	1.97
including	74	77	3	1053.42	2.54
with	74	76	2	545.38	3.54
HJ24DD016	69.35	72	2.65	974.04	0.14
HJ24DD018	111	113	2	2953.90	0.18
HJ24DD019	43	44	1	4.36	0.41
HJ24DD019	88	89	1	841.95	0.15
HJ24RC019	108	109	1	45.75	0.21

Baselode Energy Announces Flow-Through Private Placement

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