Mr. Shane Ebert reports

GOLD BASIN RESOURCES ANNOUNCES COMPLETION OF ARRANGEMENT WITH CANEX

Gold Basin Resources Corp. has completed the previously announced arrangement involving Gold Basin and Canex Metals Inc.

In accordance with the terms of the arrangement, Canex acquired all the remaining issued and outstanding common shares in the capital of Gold Basin for 0.592 of a common share of Canex per Gold Basin share.

The arrangement was originally announced on May 12, 2026, and was approved by Gold Basin's shareholders at a special meeting held on June 4, 2026. Gold Basin obtained a final order in respect of the arrangement from the Supreme Court of British Columbia on June 9, 2026.

Additional information regarding the terms of the arrangement is set out in Gold Basin's management information circular dated May 14, 2026, filed in connection with the meeting under Gold Basin's profile on SEDAR+.

Early warning disclosure

Immediately prior to the completion of the arrangement, Canex had beneficial ownership of, and exercised control and direction over, 70,088,199 Gold Basin shares, representing approximately 51.86 per cent of the then issued and outstanding Gold Basin shares. As a result of the arrangement, Canex beneficially owns, or exercises control and direction over, 104,742,818 Gold Basin shares, representing 100 per cent of the issued and outstanding Gold Basin shares.

An early warning report will be filed in accordance with applicable securities laws and will be available on Canex's SEDAR+ profile. To obtain a copy of the early warning report, please contact the secretary of Canex, Barbara O'Neill, at 1-403-233-2636.

Canex's head office is located at 734 7th Ave., Suite 1620, Calgary, Alta., T2P 3P8, Canada.

About Gold Basin Resources Corp.

Gold Basin Resources holds the 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.

We seek Safe Harbor.