Kraken Energy Announces Appointment of VP Exploration and new CFO

Vancouver, April 3, 2023 - Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (the "Company" or "Kraken Energy") is pleased to announce that effective April 3, 2023, the Company will welcome Zachery Hibdon as VP Exploration, and Carson Halliday as its new Chief Financial Officer. The Company's current CFO, Vivien Chuang, has resigned from her position as an officer and director of the Company effective April 3, 2023.

Zachery Hibdon's exploration experience spans more than 20 years working in North and Central America as well as Africa. He most recently served as President for a private geological consulting firm working in the southwestern US, where the firm's focus was working alongside junior corporations to guide and manage permitting processes and in the execution of drilling programs on both BLM and USFS land. Previously Mr. Hibdon led near mine exploration efforts at Barrick Gold Corporation's Goldstrike UG Mine where he oversaw extensive RC and core drilling programs while helping build the operation's reserves, and was also a member of the exploration team at Nevada Pacific Gold prior to the takeover of the company by U.S. Gold in 2007.

Mr. Hibdon holds a B.Sc. in Geology from the New Mexico Institute of Mining and Technology and is a Registered Member with the Society for Mining, Metallurgy, and Exploration (SME).

Carson Halliday has a strong background in financial reporting and extensive experience working with public companies in various sectors, primarily in the mining industry. As the Accounting Manager with Sentinel Corporate Services he currently provides advisory and financial reporting support to various public companies and was previously a senior accountant and manager with Deloitte Canada, where he served clients of all stages in the mining life cycle.

Carson is a Chartered Professional Accountant and holds a Bachelor of Commerce degree from the University of Calgary.

"We are pleased to welcome Zachery and Carson with their combined wealth of exploration and financial management experience to the Kraken team," stated CEO Matthew Schwab. "As we move forward with our exploration and development efforts in the US, between Zachery's time working directly with the USFS and the BLM, and his extensive geological and project management experience, in addition to Carson's valuable financial management experience from his time working with similar junior exploration companies across North America, Kraken is perfectly situated to continue progressing toward our strategic goal of building a hub and spoke mining model for domestic uranium production in the US."

The Company also announces that it has granted incentive stock options to purchase a total of 375,000 common shares at an exercise price of $0.50 per share for a period of five years to Mr. Halliday and Mr. Hibdon in accordance with the provisions of its stock option plan.

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:
Suite 907 - 1030 West Georgia Street
Vancouver, British Columbia
V6E 2Y3
T: (604) 737-2303

For investor relations inquiries, contact:
Kin Communications Inc.
T: (604) 684-6730
E: uusa@kincommunications.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/160903