Kraken Energy Corp. reported on soil sampling results from the Apex Uranium Property ("Apex" or "the Property") located in Lander County, Central Nevada,
USA. Program Result Highlights: 91 samples returning results of 50 parts per million ("ppm") uranium ("U") or greater; 26 samples ranging from 0.05 to 1.71 grams per tonne ("g/t") gold ("Au"); 38 samples ranging from 1.0 to 23.5 g/t silver ("Ag"); 52 samples ranging from 503 to 1801 ppm nickel ("Ni"); 60 samples ranging from 101 to 612 ppm copper ("Cu"). This soil sampling program was conducted to evaluate the surface extension of mineralization and the correlation of uranium with gold, silver, nickel, and copper. In addition to showing a strong correlation between uranium and both precious and base metals, the program has also validated the results of an Unmanned Aerial Vehicle ("UAV") radiometric survey completed in November 2022, indicating its viability for identifying and exploring additional radiometric anomalies on the Property. A total of 987 samples (including QA/QC samples) with variable sample spacing were collected over an area roughly 1.0 by 0.6 kilometres and included 91 samples returning results of 50 ppm U or greater. Uranium values in soil ranged from 0.97 ppm to 610.00 ppm. The high end of this range is considered strongly anomalous, being almost 470 times enriched compared to average continental crust (1.3 ppm U - Rudnick & Gao, 2003). The highest values of uranium in soils coincide very well with the anomalies outlined in the recently completed UAV radiometric survey. Due to the strong correlation between the airborne radiometrics and the soil sample assay results, the Company plans to conduct additional soil sampling surveys in the summer of 2023 focused over the anomalies discovered using the 2022 airborne UAV surveys.