Mr. Shane Ebert reports

CANEX ACQUIRES 100% OF GOLD BASIN RESOURCES

Gold Basin Resources Corp. has completed the previously announced arrangement with Canex Metals Inc., and Canex now beneficially owns, or exercises control and direction over, 100 per cent of the issued and outstanding shares of Gold Basin.

In accordance with the terms of the arrangement, Canex acquired all the remaining issued and outstanding commons 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.

Shane Ebert, president of Canex, stated: "With this milestone consolidation achievement, Canex can now concentrate its focus on unlocking the value of the combined Gold Basin and Gold Range properties, which show tremendous potential to host large oxide gold deposits. We are extremely honoured to have gained the trust and overwhelming support of former shareholders of Gold Basin, and we will work diligently and professionally to advance the company in the best interest of our shareholders."

About Canex Metals Inc.

Canex Metals is a Canadian junior exploration company and is now the 100-per-cent owner of Gold Basin. Canex is advancing contiguous Gold Range and Gold Basin properties in Mohave county, Arizona. The combined properties contain numerous drill defined gold deposit ranging up to 1.7 kilometres in length and have seen over 900 historic and current drill holes.

Canex is also advancing the Louise copper-gold porphyry project in British Columbia. Louise contains a large historical 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 (ALS), a large shareholder of the company.

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