Baselode-Forum: Aberdeen Project Drilling Underway

10 July 2025

Toronto, ON., - Baselode Energy Corp. (“Baselode”) (TSXV: FIND; OTCQB: BSENF) and Forum Energy Metals Corp. (“Forum”, together with Baselode, the “Parties”) (TSXV: FMC; OTCQB: FDCFF) are pleased to announce that our drilling is underway on the Aberdeen Project (Figure 1).

Key Highlights

  • Exploration Plan: 18-25 drill holes planned and up to 7,000 m
  • Target Areas: 10 high-priority target areas, first targets tested will be Loki and Bjorn
  • Loki Grid: Drilling will follow up on prospective gravity target with strong clay alteration and elevated uranium (up to 30 ppm – 30x background) in the Thelon sandstone

“Our drilling is underway on the Aberdeen Project and the first target is our Loki Grid.  We are excited about this target because it has all the exploration building blocks for a possible new discovery.” stated Rebecca Hunter, President, CEO and Director of Forum and upcoming Geiger Energy.

James Sykes, President and Chief Executive Officer of Baselode, stated: “We’re very excited that drilling has begun at Aberdeen. The Loki target area has all of the characteristics we’d expect to find near a high-grade uranium deposit in the Athabasca Basin; elevated uranium in the sandstone and within 10 m of the basement unconformity, clay alteration, bleaching, desilicification and highly anomalous pathfinder elements in the sandstone. We believe an Athabasca-style unconformity high-grade uranium deposit discovery on the Project will immediately reward both Baselode and Forum shareholders.”

Aberdeen Program Details

Up to 7,000 m in 18-25 drill holes is planned at Aberdeen (Figure 2), depending on results.  Targets and target criteria are as follows:

  1. Sandstone-covered targets (i.e. traditional unconformity targets) such as Loki, Bjorn, Mammoth, Thor, Squiggly River and Nymeria – Loki and Bjorn will be the first 2 areas tested. Drilling in 2024 at Loki contained uranium values 30x background and substantial clay alteration in the sandstone
  2. Basement-only targets including Lobster, Tarzan, Willow, Apollo and Starbuck; three historical drill holes at Tarzan intersected significant clay alteration and elevated boron
  3. Drill targets are selected and prioritized based on the presence of gravity low anomalies in concert with major ENE- and NE-trending faults, as well as any nearby drill or surface data that show prospective fault structures, clay or geochemical signatures

The 2025 program is focused on finding additional high-grade discoveries to build scale and enhance the discovery potential in the district.  Ground magnetic surveys are underway on 6 to 10 of the target areas to help refine the main fault zones within the drill areas. 

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