Kraken Energy Appoints Former NexGen Energy Geologist as Senior Geologist

Vancouver, October 27, 2022 - Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (the "Company" or "Kraken Energy") is pleased to announce the appointment of Madeline Berry as Senior Geologist to execute exploration programs at the Company's former-producing Garfield Hills and Apex uranium mines in Nevada.

Ms. Berry is an experienced geologist having worked with several mineral exploration companies, including NexGen Energy, Northern Star Resources and White Gold Corp., where she was involved in a spectrum of exploration activities, including logging core, overseeing QA/QC, collecting samples, and planning and managing drilling programs. Madeline is the fifth former NexGen Energy employee to join the ranks at Kraken Energy.

"We are pleased to welcome Madeline, who brings a wealth of exploration experience to the Kraken team," stated CEO Matthew Schwab. "Madeline joins us at an exciting time for the Company as we prepare to initiate an inaugural drill program at our newly acquired Garfield Hills project in the coming weeks. We believe that the ability of Kraken to continue to attract high caliber talent like Madeline, speaks volumes about the quality of uranium projects in our portfolio."

Madeline will be spearheading Phase I of an up to 2,000-metre diamond drill program at Garfield Hills, expected to commence in the coming weeks.

About Kraken Energy Corp.

Kraken Energy Corp. is a new energy company advancing its 100%-owned Apex Uranium Property, located 280 km (174 miles) east from Reno, Nevada. The Apex Property is recognized as Nevada's largest past-producing uranium mine. The Company has additionally entered into an option agreement to earn 100% of the Garfield Hills Uranium Property, located 19 km (12 miles) east of Hawthorne in Mineral County, Nevada. Additional staking has been done on the Garfield Hills Uranium Property, bringing the total area of the Property to 1,238 hectares (3,060 acres). For more information about the Company, please visit www.krakenenergycorp.com.

On Behalf of the Board of Kraken Energy Corp.

Matthew Schwab
President & Chief Executive Officer

Corporate Office:
400-1681 Chestnut Street
Vancouver, BC
V6J 4M6
T: (604) 737-2303

For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp.
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142039