Mr. Charles Straw reports

GOLD BASIN RESOURCES ANNOUNCES DATE OF ANNUAL GENERAL MEETING AND PROVIDES CORPORATE UPDATE

Gold Basin Resources Corp.'s board of directors has fixed May 12, 2026, as the date for the company's annual general meeting of shareholders. The record date for shareholders entitled to receive notice of, and to vote at, the meeting will be announced in due course.

Annual general meeting

The meeting is being called in response to a request from Canex Metals Inc. following the final, non-extendable expiry of its hostile takeover bid on Feb. 10, 2026, at 5 p.m. Toronto time. The meeting date allows sufficient time for the completion by the company of its audited annual financial statements for the fiscal year ended Dec. 31, 2024 (which are required to be tabled at the meeting), the preparation of the management information circular, and compliance with all applicable notice, record date and mailing requirements under the company's constating documents and applicable securities legislation.

Canex hostile bid

The company, together with its legal advisers, has commenced a rigorous review of the common shares purportedly tendered to the hostile bid and has serious concerns regarding the validity of certain tenders, including whether applicable requirements under securities legislation were satisfied. The company reserves all rights in respect of this matter and intends to provide further updates to shareholders as its review progresses.

Commitment to shareholder value

The board remains committed to acting in the best interests of the company and all of its shareholders. The board continues to carefully evaluate all options available to the company to maximize shareholder value and remains open to considering any bona fide proposals that, in the judgment of the board after consultation with its financial and legal advisers, are in the best interests of the company and its shareholders. The board encourages any interested party to submit formal proposals for the board's consideration.

Shareholders are encouraged not to take any action with respect to their shares at this time, pending the completion of the company's review and the distribution of the management information circular in connection with the meeting.

About Gold Basin Resources Corp.

Gold Basin Resources 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 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.