Mr. Shane Ebert reports

CANEX ANNOUNCES GOLD BASIN RESOURCES SHAREHOLDERS APPROVE MERGER ARRANGEMENT WITH CANEX WITH 75.82% SUPPORT

Gold Basin Resources Corp. held its special meeting of shareholders at 10 a.m. (Vancouver time) on June 4, 2026, and Gold Basin shareholders approved the previously announced arrangement with Canex Metals Inc.

A special resolution approving the arrangement was approved by approximately 75.82 per cent of the votes cast at the meeting, in person or by proxy, by the Gold Basin shareholders. The arrangement agreement required a vote of 66.66 per cent of votes at the meeting to pass. The arrangement is subject to final approval by the TSX Venture Exchange and the Supreme Court of British Columbia. The court hearing for the final order to approve the arrangement is scheduled to take place on June 8, 2026, and the completion of the arrangement is expected to occur on June 10, 2026.

A total of 99,880,759 votes were cast at the meeting representing 73.9 per cent of all issued and outstanding Gold Basin shares. A total of 75,580,049 Gold Basin shares were voted for the arrangement and 24,099,304 voted against. This very high voter turnout and strong support for the arrangement gives Canex a strong mandate to move the combined district forward.

On closing of the arrangement, the Gold Basin shareholders (other than Canex) will receive 0.592 of a common share of Canex for each Gold Basin share held. Gold Basin received notices of dissent from registered Gold Basin shareholders holding 29,347,888 Gold Basin shares, representing approximately 21.72 per cent of the issued and outstanding shares of Gold Basin. The treatment of dissenting Gold Basin shareholders is set out in Gold Basin's management information circular dated May 14, 2026.

Shane Ebert, president of Canex, stated: "This successful vote marks a major milestone for Canex Metals and is the culmination of a year-long process to consolidate and advance the Gold Basin mining district for the benefit of both Canex and Gold Basin shareholders. Pending court and regulatory approval we welcome all Gold Basin shareholders that have voted to support Canex and our team, and we will work diligently to unlock the value of this extraordinary gold district. In their short tenure, the new Gold Basin management team has made exceptional progress repairing past damage previously inflicted on Gold Basin and preserving the integrity of the Gold Basin asset. Gold Basin has declared the purported Helix joint venture agreement invalid with no legal standing, the Charrua loan and its attempt to strip Gold Basin assets has been settled, and multiple lawsuits, debts and regulatory deficiencies have been addressed. Our team looks forward to getting through the final stages of the arrangement and focusing our attention on exploration and advancement."

About Canex Metals Inc.

Canex Metals is a Canadian junior exploration company and the controlling shareholder of Gold Basin Resources, owning 51.86 per cent of Gold Basin, and is working to complete a full merger of Gold Basin into Canex. Canex is advancing its 100-per-cent-owned Gold Range project in Mohave county, Arizona. With several near-surface, bulk-tonnage gold discoveries made to date across a four-kilometre gold mineralized trend, the Gold Range project is a compelling early stage opportunity for investors. Gold Basin Resources holds the adjacent Gold Basin project which 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. Canex is working toward a full combination with Gold Basin to unlock the potential of this very large and highly prospective advanced gold district.

Canex is also advancing the Louise copper-gold porphyry project in British Columbia. Louise contains a large historic copper-gold resource that has seen very little deep or lateral exploration, offering investors copper and gold discovery potential. Canex is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (Toronto Stock Exchange: ALS), a large shareholder of the company.

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