Geiger Energy Formed Through Baselode-Forum Merger, Begins Exploration at Aberdeen in Nunavut

• Aberdeen drilling programme underway - 7,000-metre campaign targeting 10 high-priority areas with uranium levels up to 30 times background
• Strategic merger creates Geiger Energy - Baselode and Forum combine with $10 million working capital and 95,000-hectare Aberdeen Project
• Proven discovery potential - Tatiggaq shows 2.25% U3O8 over 11.1 metres; Qavvik confirms basement-hosted mineralisation
• Experienced leadership team - Dr Rebecca Hunter appointed as CEO, bringing extensive Thelon Basin expertise and previous uranium exploration experience
• Cost-effective exploration - Shallow targets cost $200,000 versus $480,000 in Athabasca Basin

Baselode Energy and Forum Energy Metals have completed their merger, creating Geiger Energy as a dedicated uranium exploration company focused on Canada's Thelon Basin. The all-share transaction sees Forum shareholders receive 0.3535 Baselode shares for each Forum share owned, resulting in 55% former Baselode shareholders and 45% former Forum shareholders.

Dr Rebecca Hunter, Forum CEO and a leading expert on the Thelon Basin, will serve as the CEO of Geiger Energy. Hunter previously worked at Cameco Corp. as Head-Project Geologist from 2005 to 2016 and holds a PhD in geology, bringing significant uranium exploration experience to the combined entity.

Inaugural Corporate Presentation

Geiger Energy's first investor presentation positions the company as “unlocking the next Tier One Uranium camp”, emphasising Aberdeen Project's potential in the underexplored Thelon Basin. The presentation highlights Aberdeen's strategic location adjacent to Orano's Kiggavik project, which hosts 133 million pounds of U3O8 at 0.54% grade.

Management outlines a proven discovery methodology based on Orano's regional success, where drilling 20 gravity-low anomalies achieved a 25% success rate resulting in five basement-hosted deposits. Aberdeen contains 50 similar gravity-low anomalies using identical targeting approaches, suggesting potential for additional discoveries.

The presentation demonstrates geological similarities between Aberdeen and Kiggavik, with access to Orano's core samples confirming comparable mineralisation styles across both properties. Management emphasises the project's infrastructure advantages and cost-effective exploration approach compared to traditional uranium districts.

Aberdeen Project Drilling Programme

The Aberdeen Project covers 95,000 hectares in Nunavut adjacent to established uranium resources. The project hosts two confirmed discoveries: Tatiggaq, demonstrating grades including 2.25% U3O8 over 11.1 metres; and Qavvik, showing basement-hosted mineralisation characteristics similar to neighbouring Kiggavik deposits.

Current drilling activities involve two diamond drill rigs conducting up to 7,000 metres across 18-25 holes targeting 10 high-priority areas. Operations began in July 2025 focusing on Loki and Bjorn prospects, both displaying geological indicators suggesting potential uranium discoveries.

Loki serves as the programme's primary target, featuring strong gravity-low anomaly and intersecting fault systems creating favourable geological conditions. Target areas show elevated uranium concentrations reaching 30 times background levels in sandstone samples, accompanied by clay alteration and bleaching indicators.

Geiger Energy's exploration strategy focuses on gravity-low anomalies combined with major fault trends and geochemical signatures. Ground magnetic surveys across 6-10 target areas help refine fault zone identification within drill targets.

Operational Advantages

The Aberdeen Project offers cost advantages compared to traditional uranium exploration areas. Shallow targets at 250 metres depth cost approximately $200,000 per target versus $480,000 in the Athabasca Basin, allowing Geiger Energy to test five targets for the equivalent budget of two elsewhere.

Infrastructure advantages include established camp facilities, airstrip access, and proximity to Agnico Eagle's Meadowbank operations, reducing setup costs and enabling efficient drilling operations. Both Tatiggaq and Qavvik deposits remain open for expansion with limited portions tested through historical drilling.

Aberdeen's 50 identified gravity-low anomalies provide extensive drilling inventory using methodology that mirrors successful techniques employed by Orano in discovering adjacent Kiggavik deposits.

Investment Outlook

The formation of Geiger Energy through the Baselode-Forum merger creates a focused uranium exploration entity with enhanced capabilities in Canada's Thelon Basin. The company's inaugural investor presentation coincides with active drilling operations, providing investors with immediate catalysts for assessment.

The current drilling programme targeting 10 high-priority areas represents a key milestone, with initial results from Loki and Bjorn prospects expected to demonstrate broader exploration potential. Future activities include completing the current programme and advancing existing discoveries through additional drilling campaigns.

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