Completion Of Resource Expansion Drill Program At Gold Basin Project

VANCOUVER - Gold Basin Resources Corporation reported the completion of its Q2/Q3 resource expansion and delineation reverse-circulation (RC) drill program, and reported additional broad oxide gold intercepts at the Gold Basin oxide gold project in northwestern Arizona.

RC drill program is complete, with a total 22 holes in 3,640 meters (m) drilled at the Stealth Deposit and Gap Zone (the Gap. Assays received for two additional holes from Stealth: 89.9 m @ 0.49 g/t Au from 73.2 m (~64 m vertical) in drill hole ST24-028, including 48.8 m @ 0.76 g/t Au from 96.0 m, and 13.7 m @ 1.36 g/t Au from 131.1 m, plus 29.0 m @ 0.58 g/t Au from 94.5 m (~85 m vertical) in drill hole ST24-030, including 18.3 m @ 0.78 g/t Au.

The reported gold intercepts indicate that mineralization continues and remains open at depth, and additional drilling is warranted to further extend the mineralized envelopes. Reportable oxide gold intercepts to date are shallow and broad, with an average vertical depth of ~49 m to the top of mineralized zones, and an average drill interval thickness of ~91 m. Assays received in full for 6 holes, with results for the next 3 holes expected shortly, and the remaining 13 holes within 4-6 soon.

Colin Smith, Chief Executive Officer, said, “The Q2/Q3 resource expansion and delineation drill program at Gold Basin concluded last week, and we continue to receive broad intervals of near-surface oxide from step-out collar locations at Stealth, with an average vertical depth of ~49 meters to the top of reportable mineralized zones, and an average drill interval thickness of ~91 meters. Consistent news flow will continue for the next 4-6 weeks, with the next results anticipated shortly.”