Mr. Mike Blady of Basin Uranium reports

BASIN URANIUM COMPLETES GEOPHYSICAL SURVEYS AT MANN LAKE

Basin Uranium Corp. has completed a ground-based gravity survey and a helicopter-borne mobile MT (magnetotelluric) electromagnetic and magnetic survey at its Mann Lake project, located 25 kilometres southwest of the McArthur River mine and 15 kilometres to the northeast along strike of Cameco's Millennium uranium deposit.

The recently collected and interpreted geophysical data has generated new drill targets over prospective areas on the Mann Lake property. The Phase two drill program will test the potential for uranium mineralization along interpreted lineament or structural corridors at the unconformity and in the basement, that correspond with resistivity and magnetic lows and the margins of gravity lows.

"The summer geophysical programs identified a number of new prospective targets, in addition to refining the resolution and coverage over the Mann Lake claims," commented Mike Blady, CEO of Basin Uranium. "With the additional data, our focus will be on coincident geophysical anomalies that sum together to provide the most fertile geophysical environment along with incorporating known uranium mineralization from our Phase one drilling."

Mobile MT Electromagnetic and Magnetic Survey

The Mobile MT survey successfully identified conductive zones and structures along the unconformity contact and deeper in the basement. These conductive zones are prospective for graphite and/or its breakdown products, which are considered to be responsible for uranium mineralization. In addition, deep structures within the basement allow for fluid migration, which can create pathways for the precipitation of uranium mineralization along the unconformity contact and within the basement rocks.

The purpose of the Mobile MT survey was to identify deep structures along the unconformity and in the basement, including possible alteration and mineralization zones. A total of three production flights were flown to complete 376 line-kilometers of the survey over a 70 km2 area. The main conductors along the unconformity contact are shown as resistivity lows (blue) in the accompanying map (Figure 1). The Mobile MT apparent conductivity and magnetics data have also delineated NE and NW trending prospective structures that cross-cut the basement throughout the property (Figure 2).

Gravity Survey

Multiple gravity low anomalies are defined along the southern and south-eastern portions of the tenure. Gravity lows are prospective in uranium exploration, as they can correlate to a de-silicification of the rocks that may indicate the presence of a fault structures, which are prospective for graphite and/or uranium mineralization (Figure 3).

MWH Geo-Surveys completed a 2539 station gravity survey over the southern portion of the Mann Lake tenure in July 2022. Results were merged with the historic (2006, 2008) gravity survey data, to complete the coverage over the central and southern portions of the property.

Qualified Person:

R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

About Basin Uranium Corp.

Basin Uranium Corp. is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The Company owns the Wray Mesa project in southeastern Utah which has seen significant historic uranium and vanadium exploration and is located adjacent to the fully- permitted and production ready La Sal project. The Company has an option to acquire a 75% interest in the Mann Lake uranium project, located in the Athabasca basin in Northern Saskatchewan, Canada and holds an option in the CHG gold exploration project located approximately 15 kilometers northwest of the town of Clinton in south-central British Columbia.

We seek Safe Harbor.