Baselode Receives Permits, Continues to Engage Communities

TORONTO, Feb. 22, 2021 - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the receipt of Crown Land Work Authorization and Temporary Work Camp permits from the Saskatchewan Ministry of Environment. These permits allow Baselode Energy to conduct ground gravity geophysical surveys on the Shadow uranium property ("Shadow" or the "Property") in northern Saskatchewan. A total of 4,706 individual gravity stations have been planned, covering approximately 50 km² over three prominent exploration target areas of the Property (Key, Arrow, Eagle targets) previously identified by an airborne mobile magnetotellurics survey.

Baselode also announces that it has paused Shadow's on-site work to continue further consultation with the local communities. Upon applying for permits in October 2020, Baselode has proactively engaged in a positive and constructive of duty to consult and accommodation to communities process. The intent is for all parties to proceed with mutually beneficial objectives, environmental considerations, and economic development opportunities. The Company believes a near-term solution is achievable and will continue with its exploration activities in due course.

About Baselode Energy Corp.
Baselode currently controls 100% rights to surface exploration on 71,821 hectares in the Athabasca Basin area, northern Saskatchewan, Canada.

Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complimented 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.

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.

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.

SOURCE Baselode Energy Corp.