Mr. Charles Straw reports

UPDATE ON HELIX JV AGREEMENT

Gold Basin Resources Corp. has provided an update on the farm-in with Australian Securities Exchange-listed Helix Resources Ltd. with formal agreements being finalized in accordance with the binding letter agreement previously announced, whereby Helix can earn a minority (40 per cent) interest in the Gold Basin oxide gold project.

As previously stated, the key terms of the agreement are as follows:

• Helix can earn a minority interest of up to 40 per cent of the project (with Gold Basin retaining a minimum of 60 per cent and remaining operator).
• Helix will spend up to $3-million (Australian) over two years with the first $1-million (Australian) earning an initial 20 per cent of the project, with each additional $1-million (Australian) earning a further 10 per cent, up to a maximum of 40 per cent of the project.
• Helix can elect to directly pay outstanding unpaid exploration costs as part of the earn-in.
• Helix and Gold Basin will establish a joint venture committee once formal agreements have been executed comprising two members appointed by each company with Gold Basin appointing the chairman of the committee.
• Helix will acquire a 1-per-cent net smelter royalty over the project through the issuance of 150 million Helix shares on execution of formal agreements.

The agreement is subject to exchange approval and is an arm's-length transaction, and no finders' fees are payable.

2025 plan

The initial focus of the Helix farm-in will be to deliver a National Instrument 43-101 and Joint Ore Reserves Committee (2012) mineral resource estimate as a priority followed by a preliminary economic assessment. Additional drilling is currently being planned. It is anticipated that the MRE will be completed and released in the December quarter 2025.

The company would also announces that Stephen Pearce has resigned as a director and officer to focus on other business matters. Mr. Pearce has been a tremendous help to the company during his tenure, and the company wishes him well.

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. Gold Basin is accessible year-round through a 1.5-hour drive on Highway I-93 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.