Gold Basin Resources Corporation announced that it has engaged Harris Exploration Drilling Co. Ltd. and will begin rig mobilization imminently for a June commencement of its fully-funded Second Quarter reverse- circulation ("RC") drill program, focusing on resource expansion and delineation at the Stealth Deposit and Gap Zone, at the Company's 100%-owned Gold Basin oxide gold project in northwestern Arizona (the "Gold Basin Project" or the "Project"). Gold Basin has drilled a total of 5,201 m in 35 holes at Stealth in 2022 and 2023 over a strike length of approximately 350 m, with the majority of holes returning thick intervals (> 20 m) of at- to near- surface, high-grade (> 1 g/t Au) oxide gold, and up to a thickness of 115.9 m @ 1.0 g/t Au from 22.9 m in drill hole ST22-009.

Stealth remains open in both directions of strike, down-dip to the south, and a high-grade down-plunge shoot remains fully open to the west (Figure 1). Sparse historical drilling to the west and northwest of the deposit suggests that the Stealth Fault remains gold-bearing along strike, with the prospective structure extending for over 8 km, largely undrilled. In addition, the Stealth Deposit is located entirely within a land parcel which Gold Basin strategically owns both the surface and mineral rights to.

This private minerals ground extends an additional 1.6 km along strike to the northwest of the deposit. The open-ended mineralization to the east-southeast of Stealth heads into the 600 m wide Gap Zone, which separates the Stealth and Red Cloud oxide gold deposits. The Gap was historically drill-tested by a small number of widely spaced holes, and was most recently drilled by Gold Basin in 2023, with results suggesting continuity along the full 1.5-km-long Stealth-Gap-Red Cloud trend.

The Company drilled 6 holes totaling 995 m last year in the Gap Zone, testing for continuity between the Stealth and Red Cloud oxide gold deposits. Near-surface gold was intercepted in 4 of 6 holes drilled along the main Gap Zone trend, demonstrating a strong potential for connecting the Red Cloud and Stealth Deposits . The Gap remains open in both directions of strike, down-dip to the south, and down-plunge to the west.

Gold Basin drilled 3,526 m in 29 holes in 2023, and successfully advanced the Red Cloud target to a Bonafede at-surface, high grade oxide gold deposit, with multiple at-surface oxide gold intercepts exceeding 40 m in thickness with grades over 1 g/t Au .Mineralization is open along strike in both directions, and in breadth to the north and south of existing drilling. The Company drilled 18,552 m in 210 holes 2021 and 2022 at Cyclopic, which served to extend at- to near-surface mineralization from 800 m to 1,700 m in strike length . The gold-bearing Cyclopic Fault extends an additional 8 km to the northwest, and 3 km to the southeast, and remains almost entirely undrilled outside of the main deposit area.

Mineralization is open along strike in both directions, in breadth to the north and south of existing drilling, and locally at depth. All drilling conducted by the Company to-date (29,458 m in 294 holes), and up until a determined cut- off date this year, will be considered in the Project's maiden NI 43-101 oxide gold resource estimate, planned for Fourth Quarter 2024. Approximately 95% of drilling at Gold Basin since 2021 has focused on delineation and expansion of mineralized envelopes at Cyclopic, Stealth, Red Cloud and the Gap.

The Second Quarter and subsequent drill programs this year will primarily focus on expanding resources along known trends, with possible inclusion of select high-priority new discovery style targets currently being advanced by Gold Basin geologists.