Mr. Charles Straw reports

UPDATE ON LOAN AGREEMENT WITH CHARRUA CAPITAL LLC.

Gold Basin Resources Corp. has updated the terms on a loan by Charrua Capital LLC.

Gold Basin Resources obtained an unsecured loan with Charrua Capital LLC (USA) in 2024 for $500,000 (U.S.) at an interest rate of 15 per cent per annum to provide short-term working capital. The loan was provided on an arm's-length basis.

Since the loan was drawn, interest obligations of approximately $117,652 (U.S.) have accrued, bringing the total outstanding loan amount to $617,652 (U.S.).

Update on terms

Charrua Capital has agreed to forbear exercising its rights and remedies under the loan agreement until March 31, 2026.

Under the terms of forbearance, Charrua has agreed to reduce the interest rate on the loan from 15 per cent to 9 per cent through the period from Jan. 1, 2026, until March 31, 2026.

Furthermore, the loan is no longer unsecured, with Charrua amending terms to place security against the 100-per-cent-owned private minerals parcels in the Gold Basin project during the forbearance period, which will be removed when payments resume to the satisfaction of Charrua Capital.

About Gold Basin Resources Corp.

Gold Basin Resources is advancing the Gold Basin project, located in the Tier 1 mining jurisdiction of Mohave county in Arizona. Gold Basin is accessible year-round via 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.