Geiger Energy Positions for Multi-Year Drilling Campaign Following Strategic Merger and Discovery Success

• Geiger Energy formed through merger of Baselode Energy and Forum Energy Metals, bringing together uranium exploration assets in Nunavut's Thelon Basin and Saskatchewan's Athabasca Basin
• Rebecca Hunter, former Cameco exploration geologist with 11 years experience, leads the combined entity with deep expertise in unconformity-style uranium deposits
• Aberdeen project in Thelon Basin serves as flagship asset with 50+ targets and recent Loki discovery showing first evidence of unconformity-style mineralization in the region
• Strong financial position with projected $6 million remaining cash following merger process
• Year-round exploration strategy leveraging Aberdeen's summer drilling season and Hook-ACKIO winter program in Athabasca basin for continuous news flow

Geiger Energy represents a strategic consolidation in the uranium exploration sector, formed through the merger of Baselode Energy and Forum Energy Metals earlier in 2025. The combined entity is led by Rebecca Hunter, a seasoned exploration geologist whose credentials include 11 years at Cameco Corporation, where she spearheaded their Thelon project during the pre-Fukushima uranium cycle from 2005 to 2012.

Hunter's appointment as President and CEO brings institutional knowledge critical to the company's flagship Aberdeen project. 

"I'm an exploration geologist at heart. I was born and raised in Saskatchewan and was quickly brought into the uranium industry as a student and then as a geologist." 

Her academic background includes a PhD focused on data collected during Cameco's extensive Thelon Basin exploration program, providing her with unique insights into the geological systems Geiger is now targeting.

The merger rationale centers on achieving operational scale and financial efficiency. 

"I think it comes down to bigger is better. We had two companies struggling a bit on their own. Forum had a big vision for Thelon. Baselode had a vision to look for the shallow high impact deposits in the Athabasca basin."

Robust Financial Foundation Supports Multi-Year Programs

Geiger Energy emerges from the merger with a robust financial foundation. Baselode Energy contributed $10 million to the transaction, supplemented by an additional $6 million raised during the merger process. Following completion of the summer 2025 exploration program and associated transaction costs, the company expects to maintain approximately $6 million in working capital for winter drilling programs.

This capital position supports the company's dual-basin exploration strategy, funding both the Aberdeen project's summer drilling campaigns and the Hook-ACKIO winter program. The financial structure provides operational flexibility while maintaining sufficient runway for multi-year exploration programs across both flagship assets.

Aberdeen Project: Thelon Basin Flagship

The Aberdeen project in Nunavut's Thelon Basin represents Geiger's primary value creation opportunity. Located adjacent to Orano's existing deposit containing 133 million pounds of uranium, Aberdeen encompasses the surrounding prospective ground along similar geological trends. Hunter's historical involvement with the property during her Cameco tenure provides institutional knowledge of the project's exploration potential.

The recent Loki discovery marks a significant milestone for unconformity-style uranium exploration in the Thelon Basin. 

"What's exciting about the Loki deposit is that it has sandstone. Last year we drilled it, it had just a little bit of elevated uranium in the sandstone. This year we drilled it and found even more elevated uranium in the sandstone and mineralization at the unconformity."

The discovery's significance extends beyond immediate mineralization results. Historically, Thelon Basin discoveries have been basement-hosted deposits, but Loki demonstrates the presence of unconformity-style mineralization - the deposit type responsible for the world's largest uranium mines in the Athabasca Basin. 

Geological Targeting Adapts Proven Methodologies

Geiger's exploration approach adapts proven Athabasca Basin targeting methods to Thelon's unique geological characteristics. The primary difference lies in the absence of graphitic conductors that typically guide electromagnetic surveys in Saskatchewan. Instead, the company employs magnetic, resistivity, and gravity surveys to identify fault systems and clay alteration envelopes associated with uranium mineralization.

Hunter emphasizes the importance of alteration indicators in vectoring toward economic deposits. 

"The more it's bleached, the more sulfide you get there, then you say, well, maybe you're 100 meters, maybe you're 50 meters, or maybe you're even 10 meters from something much more interesting." 

The Loki discovery exhibits extensive white bleaching and clay alteration across the entire sandstone column, indicating proximity to significant uranium systems. The challenge lies in the narrow nature of unconformity deposits. 

"McArthur River is a great example where it can be as narrow as 12 meters wide and this is the largest deposit in the world. You do 50 meter stepouts and you've missed it." 

This reality necessitates tight-spaced drilling programs with 12-meter step-outs in areas showing strong alteration signatures.

Interview with Rebecca Hunter, CEO of Geiger Energy

Hook-ACKIO Project: Saskatchewan Operations

The Hook-ACKIO project in Saskatchewan provides operational continuity during Nunavut's winter months when Aberdeen operations are suspended. Located in an Athabasca Basin analog environment, the project shares geological similarities with the Thelon Basin, including the absence of electromagnetic conductors and reliance on gravity surveys for targeting.

The ACKIO discovery anchors the project, featuring multiple shallow basement-hosted pods with mineralization beginning at depths as shallow as 30 meters. Winter 2025-2026 drilling programs will test approximately 5,000 meters across targets identified by previous exploration teams, focusing on clay alteration zones extending beyond the known mineralization.

The project's basement-hosted nature, combined with permafrost conditions extending 200-300 meters depth, provides natural containment advantages for future development scenarios. Most drill targets fall within this permafrost zone, potentially simplifying future environmental and operational considerations.

Operational Excellence Through Seasonal Optimisation

Geiger's exploration strategy capitalises on complementary seasonal operating windows across its two flagship projects. Aberdeen operations are restricted to a four-to-five-month summer window from late May through September, while Hook-ACKIO enables year-round drilling capability.

Despite these complexities, the summer drilling season allows testing of numerous shallow targets, with unconformity depths ranging from 160 meters at Loki to maximum depths of 400-500 meters across the broader project.

The logistics infrastructure, while challenging, provides operational advantages for companies with appropriate expertise. Hunter's team includes specialists experienced in helicopter-supported operations, overland snow trains, and remote camp construction - capabilities developed through years of northern exploration experience.

Market Positioning Leverages Competitive Advantages

Geiger Energy positions itself within the uranium exploration sector through several distinctive advantages. The company's district-scale land position in the Thelon Basin, combined with Hunter's institutional knowledge of the property, creates barriers to competitive entry. The recent Loki discovery validates the potential for unconformity-style deposits in a region previously dominated by basement-hosted mineralization.

The dual-basin strategy provides diversification benefits while maintaining focus on high-potential unconformity systems. Unlike companies pursuing multiple smaller projects, Geiger concentrates capital and expertise on two flagship assets with demonstrated mineralization and clear expansion potential.

Hunter emphasizes the importance of project selection in creating shareholder value: 

"You want to pick one or two really good projects that have that capability. For us, the Aberdeen project is that. We've got a whole district basically to ourselves with really good ground where we think that we could find one of these high-tonnage, high-grade discoveries."

The Investment Thesis for Geiger Energy

• Experienced Leadership: Rebecca Hunter's 11-year Cameco background provides deep institutional knowledge of Thelon Basin geology and unconformity-style uranium systems
• Proven District-Scale Assets: Aberdeen project encompasses 50+ targets in proven uranium terrain adjacent to Orano's 133M lb deposit, with recent Loki discovery validating unconformity potential
• Year-Round Operations: Complementary seasonal drilling programs maximise capital efficiency and news flow through Aberdeen summer campaigns and Hook-ACKIO winter operations
• First-Mover Advantage: Loki discovery represents first evidence of unconformity-style mineralization in Thelon Basin, potentially unlocking new district-scale opportunities
• Geological Validation: Extensive alteration signatures and structural indicators at Loki mirror world-class deposits like McArthur River and Cigar Lake
• Focused Strategy: Concentrated capital deployment on two flagship projects rather than portfolio approach maximises discovery probability and management attention

Macro Thematic Analysis

The uranium sector continues benefiting from renewed nuclear energy focus driven by climate commitments and energy security concerns. Geiger Energy's positioning in Canada's premier uranium districts aligns with this macro trend, particularly given the country's stable mining jurisdiction and established nuclear fuel supply chains.

The Thelon Basin's emergence as a legitimate unconformity-style uranium district could catalyze sector revaluation, especially if Geiger's exploration programs validate large-scale deposit potential. 

Current uranium market dynamics favor companies with significant discovery potential rather than marginal deposits, supporting Geiger's strategy of concentrating resources on flagship assets with district-scale prospectivity. The company's patient capital approach and systematic exploration methodology position it to capitalise on any sustained uranium price recovery while building fundamental asset value through discovery.

"The prize is extremely big. We just need to stick to it and make those discoveries. And I think the shareholder value will move with that."

TL;DR

Geiger Energy combines experienced Cameco veteran leadership with district-scale uranium assets in Canada's premier exploration districts. The recent Loki discovery validates unconformity-style potential in the previously basement-hosted Thelon Basin, while strong financial position supports multi-year exploration programs. Year-round drilling capability across Aberdeen (summer) and Hook-ACKIO (winter) projects maximises capital efficiency and news flow generation in proven uranium terranes.

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