Gold Basin Resources Corporation announced the results of preliminary interpretations of 2023 LiDAR survey data, initial prospecting and the commencement of a soil sampling program from the Company's 100%-owned Gold Basin oxide gold project in north-western Arizona. Gold Basin geologists have identified over 230 sites of historical, small-scale mining from 2023LiDAR survey data; Approximately 70% (160+ sites) are undrilled and have no evidence of evaluation by modern exploration techniques; Discovery of visible gold (VG) during preliminary prospecting traverse at one of the undrilled sites 850 metres (m) east of the Cyclopic Deposit (Cyclopic); An initial 500-sample soil geochemistry program has commenced, with the ultimate goal of advancing multiple greenfields targets to drill-ready stage by third quarter, 2023. 2023 LiDAR Survey Data Interpretation and Visible Gold Discovery: Gold Basin completed a property-wide LiDAR and aerial photography survey in March 2023 to assist in future NI 43-101 resource estimation, and property-wide exploration initiatives.

To date, over 230 sites of small-scale historical mining have been identified, including small shafts, adits, and pits, with the vast majority of these sites having no record of drilling or modern-day exploration. An initial prospecting traverse led to the discovery of a visible gold-bearing grab sample at an undrilled historical mining site 850 metres east of the Cyclopic Deposit. The prospect hosts strongly sheared quartz and hematite veins, with multiple blebs of visible gold up to 0.25 millimeters ("mm") in grab samples.

Spatial accuracy of the LiDAR data is less than ±15 centimetres vertical and ±30 cm horizontal, and the colour aerial photography has been orthorectified to the LiDAR bare earth model to produce an orthophoto with a 20 cm pixel resolution. Phase 1 Soil Sampling Program: An initial 500-sample soil geochemistry program has commenced to evaluate a defined area of highly prospective ground northeast of the Cyclopic which hosts approximately 100 sites of small-scale historical mining, multiple high-grade rock samples, and zero drill holes. Many of these sites are situated along gold-bearing structures which tie directly into Cyclopic, and host magnetic signatures comparable to the known at-surface oxide gold deposits at Gold Basin.

The first phase of soil sampling consists of 50-metre-spaced sites along 100-metre-spaced lines, with the goal of sampling C-horizon material below the caliche (calcrete) horizon, pursuing geochemical data representative of underlying bedrock.