Mr. Colin Smith reports

GOLD BASIN ANNOUNCES COMMENCEMENT OF RC DRILL PROGRAM, GOLD BASIN PROJECT, ARIZONA

Gold Basin Resources Corp. has commenced its fully financed second quarter reverse-circulation drill program, focusing on resource expansion and delineation at the Stealth deposit and Gap zone, at the company's 100-per-cent-owned Gold Basin oxide gold project in northwestern Arizona.

Highlights of the Q2 2024 RC drill program:

• 3,000-metre program totalling approximately 22 drill holes with an average planned length of 160 m;

• Focus of expanding mineralization at the Stealth oxide gold deposit, and Gap zone;

• Stealth and the Gap are open in both directions of strike, down-dip, down-plunge and in breadth;

• Gold Basin anticipates completion of drilling in approximately five weeks based on metreage rates from previous campaigns; and

• Samples will be submitted to ALS Geochemistry in Tucson, Ariz., for fire-assay gold analyses, with preliminary results are anticipated in three weeks.

Colin Smith, chief executive officer of the company, commented: "We are thrilled to be back drilling at Gold Basin, as we steam towards the project's maiden NI 43-101 oxide gold resource, to be released this year. The first batch of assay results are due back in early July, and we greatly anticipate getting them to market as soon as possible."

Q2 2024 drill program

Please refer to news release dated May 29, 2024, for a summary of the continuing RC drill program, and overview of potential resource-candidate oxide gold deposits at Gold Basin.

Quality control/quality assurance

RC drilling samples are collected every five feet (1.52 m) and are reduced on-site using a triple-tier Gilson splitter, producing a two-to-three kilogram assay sample and a three-to-five-kilogram twin sample that can be used for met testing or reassay work. Coarse blank material, standard reference pulps and split duplicates are inserted into the sample stream on a 1-in-20 sample basis such that each 23-sample group contains one blank, one duplicate and one reference pulp. Three standard reference pulps at three different gold grades are being used: 0.154 part per million, 0.778 ppm and 2.58 ppm. One 1.52 m drill interval in every four intervals is weighed in order to monitor recovery.

Assay samples are placed in shipping sacks together with the field inserts upon completion of each hole. After four holes are completed, all assay samples are transported in their respective shipping sacks ALS in Tucson, Ariz., by a Gold Basin contractor. Prior to shipping, all samples are maintained under the direct control and supervision of the on-site geological staff.

Upon arrival in ALS Tucson, the samples are prepared using ALS codes CRU-31, SPL-31 and PUL-32 procedures (pulverize one kg split to 85 per cent passing 75 microns) and fire assayed for gold using ALS Code Au-AA25 procedure (30-gram fire assay with AA finish). ALS also inserts its own certified reference materials plus blanks and duplicates. All QA/QC results associated with the assays reported herein are within expectation.

ALS is accredited to ISO/IEC 17025:2017 standards for specific preparation and analytical procedures.

Qualified persons

Charles Straw, BSc, Geo, a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Straw is not independent of the company as he is an executive director of the company and owns securities of the company.

About Gold Basin Resources Corp.

Gold Basin Resources is advancing the 42-square-kilometre Gold Basin project, located in the tier one mining jurisdiction of Mohave county, Arizona. Gold Basin is accessible year-round via a 1.5-hour-drive on I-93 Highway southeast of Las Vegas, and high-power electrical lines from the Hoover Dam crosscut the southern Project area. The immediate focus of Gold Basin's highly experienced technical team is to expand and delineate multiple at-surface oxide gold deposits and prove the project's district-scale potential.

We seek Safe Harbor.