Mr. Shane Ebert reports

GOLD BASIN ANNOUNCES TERMINATION OF CHARLES STRAW FOR CAUSE

Gold Basin Resources Corp. has terminated Charles Straw for cause as its president and interim chief executive officer for serious misconduct, breach of his duties and obligations, conflicts of interest, and repeated lack of judgment, care and diligence causing financial loss to Gold Basin. Based on the company's investigation to date, the company is aware of Mr. Straw's conversion for personal use and loss of company funds; misappropriation of corporate opportunities; causing the company to enter into transactions with parties in which Mr. Straw or his associates had a personal interest on financial and commercial terms that were neither fair nor reasonable to the company; and causing the company to breach its obligations under Canadian securities laws, the Business Corporations Act (British Columbia), stock exchange requirements and a restraining order of the British Columbia Supreme Court. The company's investigation into these matters is continuing, and none of the company's findings have been proved in court.

On March 16, 2026, Mr. Straw was sent a letter from Gold Basin terminating him for cause and outlining 15 breaches of his basic duties and obligations to the company. On March 17, 2026, in response to that letter, Mr. Straw indicated in writing that, among other things, in 2024, he was the victim of wire fraud relating to a business e-mail compromise. What is not explained by Mr. Straw is why he wired large sums of money from Gold Basin's corporate bank account to a private account he controlled before he "fell victim" to wire fraud. The new board of directors of Gold Basin have not been provided with any information or documents that could explain the reason for the diversion of the corporate funds to his private account.

The company has reserved all of its rights against Mr. Straw and intends to take such steps or initiate such proceedings as may be available and appropriate to recover from him the losses the company alleges it has suffered, and may continue to suffer, and recover the gains the company alleges Mr. Straw may have benefited from, due to his misconduct.

At the company's court-ordered annual general meeting held on March 16, 2026, Mr. Straw was not re-elected as a director.

Unreported material fraud

To the company's knowledge, the material fraud event confirmed by Mr. Straw was never disclosed to the TSX Venture Exchange, the British Columbia Securities Commission or Gold Basin shareholders. Under TSX-V policy and Canadian securities laws, management and board members must immediately disclose any material fraud once they become aware of it. The new management of Gold Basin is doing so now, even though key information relating to the event has not been provided by Mr. Straw to the company.

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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