Gold Basin Resources Corporation provided an exploration update at the Company's 100%-owned Gold Basin oxide gold project in northwestern Arizona. All assays received from Phase 2 reverse-circulation ("RC") drill program, with 11 of the final 12 drill holes at the Red Cloud and Stealth targets intercepting oxide gold at vertical depths ranging from 4.6 metres (m) to 182.9 m down-hole; Multiple holes, including the deepest hole in the program (CM-23-040 drilled to 182.9 m in Gap Zone) ended in oxide gold mineralization, suggesting a second untested mineralizedachment plane is present at depth; Red Cloud and Stealth remain open along strike to the northwest and southeast, and both 2023 drill holes testing the Gap Zone between the two targets returned gold assays, including 1.40 g/t Au over 4.6 m from 45.7 m in drill hole CM23-040, suggesting mineralized continuity along the entire 1.2 kilometre (km) strike extent drilled to date; Track-mounted Grasshopper RC drill rig currently mobilizing to Gold Basin for 2,000 metres of priority follow-up drilling given the highly successful Phase 2 program, testing the open southeasterly strike at Red Cloud; March 2023 ground gravity survey conducted over Cyclopic, Red Cloud and a portion of Stealth defined two additional high-priority drill targets: Shallow Cyclopic analogue target equidistant between Cyclopic and Stealth, undetected by previous conventional exploration due to shallow alluvial cover may be tested in the 2,000 metre follow-up program; Deeper Iron Oxide Gold (IOG) target underneath Cyclopic which hosts strong coincident density and magnetic anomalies to be tested later in third quarter or fourth quarter of 2023 by deeper core drilling. 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 gap in between Red Cloud and Stealth.