CSE:UUSA ()  | OTCQB:UUSAF ()

Kraken Energy Engages Drill Contractor for Drill Program

July 13, 2022

Vancouver, British Columbia – July 13, 2022 – Kraken Energy Corp. (CSE: UUSA; OTCQB: UUSAF) (the “Company” or “Kraken”) is pleased to announce that it has engaged Nasco Industrial Services and Supply (“NISS”) to conduct a diamond drill program at the Company’s Apex Uranium Project (“Apex” or the “Project”) in Lander County, Nevada.

NISS, whose clients include Hecla Mining, First Majestic Silver, and Rio Tinto, is a leader in low-impact drilling operations utilizing centrifuge technology to capture drill cuttings, as well as operating from platform or track-mounted set ups to minimize surface disturbance.  The implementation of low-impact drilling exceeds current best practices and fits well with the Company’s objectives to explore and develop mineral properties in an environmentally responsible manner.

“The low-impact drilling approach utilized by NISS will allow us to drill the historic Apex Mine area with minimal surface disturbance and water consumption, which are important considerations when working in Nevada,” stated Chairman, Garrett Ainsworth.  “With a drilling contractor now engaged, we are excited to have taken another step towards an initial drill program at the Apex Property.”

Figure 1. Proposed Drill Hole Locations at the Apex Property

Technical Information

All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, the Company’s Chairman of the Board.  Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Kraken Energy Corp.

Kraken Energy is a new energy company advancing its 100%-owned Apex Uranium Project, recognized as Nevada’s largest past-producing uranium mine.

On Behalf of the Board of Kraken Energy Corp.

David Forest,
CEO & Director

Corporate Office: #717 – 1030 West Georgia Street, Vancouver, BC, Canada V6E 2Y3
T: 604.417.2960

For investor relations inquiries, contact: Kristina Pillon, High Tide Consulting Corp.
T: 604.908.1695 / E: info@krakenergycorp.com

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available.

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