Mr. Shane Ebert reports

GOLD BASIN RESOURCES ANNOUNCES SETTLEMENT AGREEMENT WITH CHARRUA CAPITAL LLC

Gold Basin Resources Corp. has reached a settlement agreement with Charrua Capital LLC in respect of the disputed enforceability of the unsecured loan agreement dated Aug. 21, 2024, between Gold Basin and Charrua. The loan agreement bore a principal amount of $500,000 (U.S.), initial interest rate of 15 per cent, high fees and costs, and restrictions on Gold Basin's use of funds.

Under the settlement agreement, Gold Basin has agreed to pay Charrua $217,367.40 (U.S.) upon, among other things, the release and discharge of any and all security interests, and claims against Gold Basin and its assets. The settlement agreement is not an admission of liability by either party and the parties have mutually released their respective claims in respect of the loan agreement, thereby avoiding the expense, burden and uncertainty associated with litigation. The settlement agreement does not release Michael Povey or Charles Straw from any claims.

About Gold Basin Resources Corp.

Gold Basin Resources holds the 42-square-kilometre Gold Basin project in Mohave county, Arizona. The project hosts large mineralized trends containing near-surface oxide gold mineralization, and has seen over 800 historic and current drill holes into mineralized deposits up to 1.7 kilometres in length.

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