Mr. Colin Smith reports

GOLD BASIN CLOSES UPSIZED $963,350 PRIVATE PLACEMENT

Gold Basin Resources Corp. has closed its previously disclosed non-brokered private placement through the issuance of 6,422,335 common shares in the capital of the company at a price of 15 cents per share for gross proceeds of $963,350.

The net proceeds from the financing are intended to finance continuing fieldwork and exploration campaigns at Gold Basin's mineral projects and for general working capital. In connection with the closing of the financing, the company paid aggregate cash finders' fees of $20,031 to certain finders including Haywood Securities Inc., PI Financial Corp. and Leede Jones Gable Inc. for the introduction of eligible investors to the company. All shares issued in connection with the financing are subject to a four month hold period expiring Jan. 7, 2024.

Certain officers and directors of the company participated in the financing pursuant to the terms described herein. These constitute related party transactions pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the closing of the financing, neither the fair market value of the shares issued in connection with the financing, nor the fair market value of the consideration received by the company for same, insofar as it involved the related parties, exceeded 25 per cent of the company's market capitalization.

About Gold Basin Resources Corp.

Gold Basin is advancing the 42-square-kilometre Gold Basin project, located in the Tier 1 mining jurisdiction of Mohave county, Arizona. The project hosts multiple at-surface oxide gold deposits, which remain largely open for expansion and district-scale exploration potential, which has been vastly underexplored by modern technologies. Gold Basin is accessible year-round through a 1.5-hour-drive on I93 Highway southwest of Las Vegas, and high-power electrical lines from the Hoover dam crosscut the southern project area.

Gold Basin is a member of Discovery Group, an alliance of public companies focused on the advancement of mineral exploration and mining projects.

We seek Safe Harbor.