Broad High-Grade Shallow Oxide Gold Intercepts From First Two Resource Expansion Drill Holes At Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation reported on the first two reverse-circulation (RC) drill holes from the ongoing resource expansion and delineation drill campaign at the Gold Basin oxide gold project in northwestern Arizona. Both drill holes produced broad, near-surface, high-grade oxide gold intercepts at the Stealth Deposit: 1) 138.7 meters (m) @ 0.93 g/t Au from 30.5 m in hole ST24-026 which included 6.1 m @ 4.83 g/t Au from 36.6 m, and 74.7 m @ 1.16 g/t Au from 94.5 m. 2) 82.3 m @ 0.94 g/t Au from 36.6 in hole ST24-027, that included 41.2 m @ 1.07 g/t Au from 38.1 m.

Multiple 0.25 to 0.50 millimeter (mm) occurrences of visible gold (VG) identified in RC chip trays. In previous drilling, the system remains in oxide from surface through the deepest gold intercept to date. Both holes collared into Quaternary-Tertiary gravel cover before entering thick mineralized sequences, demonstrating the potential for significant mineralized systems hidden under shallow cover along the ~10-kilometer-long Stealth and Cyclopic gold trends. Five holes totaling 1,027 m have been completed out of the planned 3000 m program, with the next batch of results anticipated in the coming weeks.

Colin Smith, Chief Executive Officer, said, “Assay results from resource expansion drilling at Stealth are on par with some of the best oxide gold results to date at the Project and showcase the robust nature of the Stealth oxide gold system. In particular, the result from drill hole ST24-026 is highly encouraging, as it confirms the extension of a high-grade oxide gold plunge at depth, which remains open, and is to be further tested in this drill program.”