Gold Basin Resources Corporation announced preliminary results from the Phase 2 resource definition reverse-circulation ("RC") drill program at the Company's 100%-owned Gold Basin oxide gold project in north-western Arizona (the "Gold Basin Project " or the "Project"). Multiple at- or near-surface oxide gold intercepts at the Red Cloud target ("Red Cloud") over 40 metres ("m") in thickness with grades exceeding 1 g/t Au, including: 57.9 m @ 1.82 g/t Au from 4.6m in hole CM23-022. incl.

15.2 m @ 4.12 g/t Au from 10.7 m. 42.7 m @ 2.44 g/t Au from surface in hole CM23-029. incl. 18.3 m @ 5.53 g/t Au and 6.1 m @ 11.72 g/t Au from 2.13 m. 53.3 m @ 1.37 g/t Au from surface In hole CM23-018.

incl. 22.9 m @ 2.44 g /t Au from 9.1 m. 50.3 m @ 1.35 g/t Au from surfacein hole CM23-025. incl.

19.8 m @ 2.55 g/t Au from 16.8 m. 47.2 m @ 1.07 g/t Au from surface the. A total of 5,004.8 metres were drilled in 41 RC drill holes in Phase 2 with a focus on resource definition at the Red Cloud (24 holes), PLM (10 holes), Stealth (7 holes), and portions of the undrilled gaps in between Red Cloud and Stealth. Of the 29 holes with results received in full, 18 of 19 holes at Red Cloud intercepted broad, near- surface intervals of oxide gold mineralization, hosted dominantly from surface to 70 metres depth.

At PLM, 7 of 10 holes returned intermittent auriferous intervals from surface to 87 metres depth.