Kraken Energy Corp. reported that the Company has completed its maiden drilling program at the Harts Point Uranium Property in San Juan County, Utah. The Phase I drilling program tested two targets spaced 5 kilometers ("km") (3.12 miles) apart, focused on confirming the presence of uranium mineralization indicated by radiometric anomalies in three historic oil wells on the Property.

Downhole Gamma Probe Results: Drillhole HP24-001 intersected a total of 12.9 meters (m) (42.3 feet ("ft")) of elevated radioactivity with downhole probe readings from 252 counts per second ("cps") up to 653 cps from 151.5 to 421.5 m (497.0 to 1,382.8 ft). Including 270 to 653 cps over 1.0 m (3.2 ft) from 415.1 to 416.1 m (1,361.9 to 1,365.1 ft). Drillhole HP24-002 intersected a total of 16.2 m (53.1 ft) of elevated radioactivity with down hole probe readings from 252 counts per Second ("cps") up to six53 cps from 151.

5 to 421.5 m (49.0 to 1,382.,8.8 ft). Including 270 To 653 cps over 1.,0 m (3.2 feet) from 415.1 to Toronto.1 m (1,360.1 ft) Drillhole HP24-002 intersections from the downhole probe readings from 252 cps up to 2,162 cps from 107.8 to 390.4 m (353.6 to 1,280.7 ft). Including 263 to 2,162 cps over 2.4 m (7.9 ft) from (1,261.2 to 1,269.1 ft).

Background gamma readings through non-elevated zones typically range from 10-150 cps on the borehole gamma probe.