Shadow Uranium Property Expanded Based On Geophysical Results

TORONTO – Baselode Energy Corp. has expanded its land position at its Shadow uranium property in the Athabasca Basin area of Saskatchewan. Shadow now covers 46,000 hectares and encompasses a larger area along the Virgin River Shear Zone (VRSZ).

The Shadow property was expanded based on the preliminary results of the Company’s heliborne mobile magnetotellurics survey (Mobile MT). The Mobile MT survey completed 2,600 line-kilometer covering the entirety of the Shadow property. The preliminary results from the Mobile MT survey delineated an abundance of structures on and adjacent to the Shadow property. Shadow’s expanded property boundary now encompasses more structures along the VRSZ, maximizing the Company’s discovery potential. Baselode expects to receive full results and interpretations from the Mobile MT survey in the coming weeks.

James Sykes, CEO and President, said, “We are excited with the preliminary results from our Mobile MT survey which outlined an extensive structural network which shares geophysical similarities with other high-grade uranium deposits, such as NexGen’s Arrow and Cameco’s mined-out Key Lake deposits.  This additional land staking on Shadow now covers a structural corridor of interest and further secures our foothold along the VRSZ.  We are eagerly anticipating the final results from the Mobile MT survey in order to define follow-up diamond drill exploration targets”.