Update to Shareholders

(TheNewswire)

January 8, 2026 – TheNewswire -Vancouver, British Columbia:Gold Basin Resources Corporation (the "Company", "Gold Basin") – (TSX-V GXX,OTCQB: GXXFF) is pleased to provide an update toshareholders and present its plan to resume trading and rapidlyrevalue the Company through the delivery of a Maiden Resource Estimatein early 2026.

The Gold Basin Project in Arizonaholds significant, shallow oxide gold mineralisation that strikes overa cumulative 7km, making it one of the most promising oxide goldexploration projects in the western USA.

Hostile Takeover

The Board of Gold Basin Resourcesvigorously asserts that shareholders must REJECTthe hostile takeover byCanex Metals Inc. because it significantly undervalues the mineralendowment of the Gold Basin Project, identified through multiplehighly successful drilling campaigns.  

Gold Basin’s technical teamconsiders that the mineral tenements held by Canex hold meagreeconomic potential and will not add either significant mineralresources or economies of scale if combined with the Gold BasinProject.

The low-ball offer is distorted byCanex’s share-price having artificially inflated based on the hopeof securing the Gold Basin Project; it was many times lower when basedsolely on Canex’s own assets.

The largest shareholders of GoldBasin have committed to REJECT the offer and the Board is confidentthat this hostile takeover will be defeated.

Gold Basin Resources encouragesinvestors to contact the Company to assert their continuingcommitment. Those who have submitted support for the Canex offer areencouraged to REVOKE and REJECT it.

A Unified Strategy

The Board of Directors and keymajor shareholders are unified behind a robust strategy to maximisethe potential of the Company’s assets in the near term.

This unifying strategy involves thefollowing:

1. (1)Deliveringa Maiden Resource in early 2026, providing a fundamental, asset-basedrevaluation of the Company. 

2. (2)Significantly expanding that Maiden Resource with new drillingcampaigns that primarily focus on extensional drilling that addseconomically viable ounces quickly. 

3. (3)Deliveringa preliminary economic assessment on the project. 

Gold Basin’s Board areconcurrently working to ensure that trading resumes as soon aspracticable.

The Company has the deep technical,corporate and governance capabilities that support an environment ofexcellence, effectiveness, and common-sense. Importantly, there iscompany-wide support for the strategy outlined above.

Maiden Resource Estimate

Gold Basin’s partner in the GoldBasin project, ASX-listed Helix Resources, has engaged an independentmining consultancy to deliver a Maiden Resource estimate for theCyclopic and Stealth Deposits in early 2026. Work began in December2025 and has resumed following the holiday break.

Board Appointments

Mr. Andrew Mendelawitz has joinedthe Company as a Non-Executive Director. He provides his full supportto the revised and strengthened strategy and rejects the hostile Canexbid.

With his appointment, two of theCompany’s three Directors are independent.

Mr. Mendelawitz worked very closelywith the Company and its Australian and New Zealand shareholder baseover a three-year period from its foundation, handling investorrelations and communications. His appointment recognises the Board’scommitment to elevating the level of communication with investors,especially around strategy and delivery of milestones.

Shareholders are encouraged tocontact Mr. Mendelawitz to pledge their support behind the incumbentBoard and REJECT this hostile takeover attempt via:

Email:[email protected]

Phone: +61 417181990 (Melbourne,Australia -- UTC+10 (AEST)

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ABOUT GOLD BASIN RESOURCES CORPORATION

Gold Basin Resources Corporation isadvancing the 42 km2 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 in sustained precious metals demand and prices,the receipt of any necessary permits, licenses and regulatoryapprovals in connection with the future exploration and development ofthe Company's projects in a timely manner, the availability offinancing on suitable terms for the exploration and development of theCompany's projects and the Company's ability to comply withenvironmental, health and safety laws. The Company cautions investorsthat any forward-looking statements by the Company are not guaranteesof future results or performance, and that actual results may differmaterially from those in forward-looking statements as a result ofvarious factors, including, operating and technical difficulties inconnection with mineral exploration and development activities, actualresults of exploration activities, the estimation or realization ofmineral reserves and mineral resources, the inability of the Companyto obtain the necessary financing required to conduct its business andaffairs, as currently contemplated, the timing and amount of estimatedfuture production, the costs of production, capital expenditures, thecosts and 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.

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