Mr. Shane Ebert reports

GOLD BASIN RESOURCES NEW BOARD OF DIRECTORS AND MANAGEMENT RESPONDS TO HELIX JOINT VENTURE ANNOUNCEMENT

Gold Basin Resources Corp. has responded to the March 16, 2026, announcement by Helix Resources Ltd. that it has executed a formal joint venture agreement to earn in up to a 40-per-cent interest in the company's 42-square-kilometre Gold Basin project in Mohave county, Arizona.

Helix's announcement was made just hours prior to the replacement of the company's entire board of directors by a unanimous vote of shareholders at a court-ordered annual general meeting held on March 16, 2026.

Any such agreement is in violation of a restraining order issued by the Supreme Court of British Columbia on Feb. 11, 2026. The company's controlling shareholder, Canex Metals Inc., has advised that it intends to seek contempt orders against each of the former directors of the company personally for breach of the restraining order.

A previous conditional letter agreement between Helix and Gold Basin announced on April 29, 2025, is subject to a petition before the court dated Oct. 28, 2025, launched by Gold Basin shareholders, to set aside the agreement on the basis of one or more former directors of Gold Basin having a material undisclosed interest in Helix and the agreement not being fair or reasonable to Gold Basin.

The company failed to enter a response to the petition by the court's deadline but subsequently filed a one-page objection to the jurisdiction of the court to hear the petition.

After careful review of the petition materials by the new board of directors of the company, the company intends to withdraw the objection to the court's jurisdiction and support the shareholders' petition to set aside the agreement with Helix. The new board is in the process of retaining independent counsel, and, pending receipt of advice from independent counsel, the company will finalize a path and strategy to more forward.

Shane Ebert, president and chief executive officer of the company, stated: "The new board of Gold Basin is composed of highly experienced industry professionals who are working diligently to address the current state of the company and create value for all stakeholders. Pending further discussion with independent counsel, we envision that setting aside this self-interested and commercially unreasonable contract with Helix will benefit the company and its stakeholders."

The company has reserved all of its rights against the former directors of the company and intends to take such steps or initiate such proceedings as may be available and appropriate to recover from them, personally, any losses the company alleges it has suffered, and may continue to suffer, and recover the gains the company alleges its former directors may have benefited from, due to the agreements with Helix.

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.

We seek Safe Harbor.