Update on Helix JV Agreement

(TheNewswire)

October 20, 2025 – TheNewswire - Vancouver, British Columbia:Gold Basin Resources Corporation (the "Company" , "Gold Basin") – (TSX-V GXX,OTCQB: GXXFF) is pleased to provide an update on the Farm-Inwith ASX listed Helix Resources Limited (HLX) with Formal Agreementsbeing finalized in accordance with the Binding Letter Agreementpreviously announced, whereby HLX can earn a minority (40%) interestin the Gold Basin Project oxide gold project (Project).

As previously stated, the key terms of the Agreement are as follows:

• HLX can earn a minority interest of up to 40% of theProject (with GXX retaining a minimum of 60% and remainingoperator).

• HLX will spend up to million over 2 years withthe first $1AUD million earning an initial 20% of the Project, witheach additional $1AUD million earning a further 10%, up to a maximumof 40% of the Project.

• HLX can elect to directly pay outstanding unpaidexploration costs as part of the earn in.

• HLX and GXX will establish a Joint Venture Committeeonce Formal Agreements have been executed comprising two membersappointed by each Company with GXX appointing the Chairman of theCommittee.

• HLX will acquire a 1% Net Smelter Royalty (NSR) overthe Project through the issuance of 150 million HLX shares onexecution of Formal Agreements.

The agreement is subject to Exchange approval, is anarm’s length transaction and no finder’s fees are payable.

2025 PLAN

The initial focus of the HLX Farm-In will be to delivera NI43-101 and JORC (2102) Mineral Resource Estimate (MRE) as apriority followed by a Preliminary Economic Assessment. Additionaldrilling is currently being planned. It is anticipated that the MREwill be completed and released in the December Quarter 2025.

The Company would also announces that Mr Stephen Pearcehas resigned as a director and officer to focus on other businessmatters. Stephen has been a tremendous help to the Company during histenure and the Company wishes him well.

ABOUT GOLD BASIN RESOURCES CORPORATION

Gold Basin Resources Corporation isadvancing the 42 km 2 GoldBasin Project, located in the tier one mining jurisdiction of MohaveCounty, Arizona.  Gold Basin is accessible year-round via a1.5-hour-drive on Highway I-93 southeast of Las Vegas, and high-powerelectrical lines from the Hoover Dam crosscut the southern Projectarea.  The immediate focus of Gold Basin's highly experiencedtechnical team is to expand and delineate multiple at-surface oxidegold deposits and prove the project's district-scale potential.For further information, please visit the Company's web site at: www.goldbasincorp.com .

On Behalf of the Board of Directors

Charles Straw

President, Director & interim CEO

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statementsand forward-looking information (collectively, "forward lookingstatements") within the meaning of applicable Canadian and U.S.securities legislation, including the United States Private SecuritiesLitigation Reform Act of 1995. All statements, other than statementsof historical fact, included herein including, without limitation,future assay results from further programs, future plans for drillingat the Stealth Deposit, the Company's expectation that it will besuccessful in enacting its business plans, and the anticipatedbusiness plans and timing of future activities of the Company, areforward looking statements. Although the Company believes that suchstatements are reasonable, it can give no assurance that suchexpectations will prove to be correct. Forward-looking statements aretypically identified by words such as: "believes","will", "expects", "anticipates","intends", "estimates", "plans","may", "should", "potential","scheduled", or variations of such words and phrases andsimilar expressions, which, by their nature, refer to future events orresults that may, could, would, might or will occur or be taken orachieved. In making the forward-looking statements in this newsrelease, the Company has applied several material assumptions,including without limitation, that that there will be investorinterest in future financings, market fundamentals will result insustained precious metals demand and prices, the receipt of anynecessary permits, licenses and regulatory approvals in connectionwith the future exploration and development of the Company'sprojects in a timely manner, the availability of financing on suitableterms for the exploration and development of the Company'sprojects and the Company's ability to comply with environmental,health and safety laws. The Company cautions investors that anyforward-looking statements by the Company are not guarantees of futureresults or performance, and that actual results may differ materiallyfrom those in forward-looking statements as a result of variousfactors, including, operating and technical difficulties in connectionwith mineral exploration and development activities, actual results ofexploration activities, the estimation or realization of mineralreserves and mineral resources, the inability of the Company to obtainthe necessary financing required to conduct its business and affairs,as currently contemplated, the timing and amount of estimated futureproduction, the costs of production, capital expenditures, the costsand timing of the development of new deposits, requirements foradditional capital, future prices of precious metals, changes ingeneral economic conditions, changes in the financial markets and inthe demand and market price for commodities, lack of investor interestin future financings, accidents, labour disputes and other risks ofthe mining industry, delays in obtaining governmental approvals,permits or financing or in the completion of development orconstruction activities, risks relating to epidemics or pandemics suchas COVID–19, including the impact of COVID–19 on theCompany's business, financial condition and results ofoperations, changes in laws, regulations and policies affecting miningoperations, title disputes, the inability of the Company to obtain anynecessary permits, consents, approvals or authorizations, including bythe TSX Venture Exchange, the timing and possible outcome of anypending litigation, environmental issues and liabilities, and risksrelated to joint venture operations, and other risks and uncertaintiesdisclosed in the Company's latest Management's Discussionand Analysis and filed with certain securities commissions in Canada.All of the Company's Canadian public disclosure filings may beaccessed via www.sedar.com and readers are urged to review thesematerials. Readers are cautioned not to place undue reliance onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements in this news release orincorporated by reference herein, except as otherwise required bylaw.

Copyright (c) 2025 TheNewswire - All rights reserved.