Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (the 'Company' or 'Kraken Energy') is pleased to report on the interpretation of recently flown 669 line-kilometer ('km') (416 mile) VTEM and magnetic airborne geophysical survey on its 100%-owned Apex Property ('Apex' or the 'Property') in Central Nevada.

Conductive graphite and sulphides (pyrite and chalcopyrite) are associated with uranium mineralization on the Property, and the VTEM survey results have identified numerous conductive anomalies associated with known uranium mineralization on the Property and also along trend to the east-southeast as high priority blind targets.

Highlights: Known uranium mineralization on the Property is associated with conductive anomalies and magnetic highs.

Uranium mineralization at the past-producing Apex and Lowboy Mines is strongly associated with conductive graphite and sulphides. Magnetic high signatures are also associated with these historic uranium mines.

The highest-grade uranium mineralization at the historic Apex Mine is associated with graphitic and pyritic shales near the intrusive contact, and along both the hanging wall and foot wall of the aplite dikes1.

Numerous highly prospective and untested conductive anomalies and magnetic highs exist across the entire 14.5 km mineralized strike length within the Apex Property.

New priority targets have been outlined on both BLM and USFS portions of the Property.

The strongest conductive anomalies on the Property are untested blind targets located in between the historic Apex and Lowboy Mines.

Conductive anomalies and magnetic highs have significantly upgraded the regional prospectivity on the Apex Property.

The survey was carried out by Geotech Ltd. and collected both time-domain electromagnetic and magnetic data on 100 meter ('m') (328 foot) spaced lines with a northeast-southwest flight orientation. The survey was designed to investigate multiple prospects on the Apex Uranium Property for anomalous conductivity related to graphitic and sulphide-rich horizons, and magnetic highs related to intrusive bodies that are often concurrently associated with uranium mineralization.

With a newly updated geological model and additional geophysical data for targeting, we are confident with our drill targets on the Apex Property,' stated CEO Matthew Schwab. 'Our team's understanding of the entire Apex Property has taken a remarkable leap forward, and we are excited to test these new targets as we continue to advance the drill permitting process with the US Forest Service.'

About Kraken Energy Corp.

Kraken Energy Corp. is a new energy company advancing its portfolio of high-grade uranium properties in the Unites States. The Company is advancing its 100%-owned Apex Uranium Property, located 280 km (174 miles) east from Reno, Nevada which 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. The past-producing Garfield Hills Uranium Property covers 1,238 ha (3,060 acres) and is located 19 km (12 miles) east of Hawthorne in Mineral County, Nevada. The Company has also recently staked the Huber Hills Uranium Property, located 136 km (85 miles) north of Elko, Nevada which covers 2,580 acres and encompasses the historic Race Track open pit mine.

Contact:

Tel: (604) 737-2303

Email: uusa@kincommunications.com

The CSE has neither approved nor disapproved the contents of this news 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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