Gold Basin Resources Corporation announced that a ~10,000m drilling program has started at the Company's 100%-owned Gold Basin oxide gold project in north-western Arizona. Drilling will target the Cyclopic, Stealth and PLM Deposits, following up on the shallow, continuous, gold-bearing mineralisation identified in the first 10,000m program in 2021 and historical drilling that showed significant potential at the Stealth and PLM deposits. 2022 Drill Program: The 2020/21 reverse-circulation drill program at the Cyclopic deposit identified oxide gold mineralisation from surface to an average drillhole depth of 90m, along approximately 1.7km of strike length.

The current drill program aims to expand the Cyclopic mineralisation and assess several of the known nearby historic gold zones for the first time in decades. The 2022 drill program includes three main targets: Cyclopic Deposit: North towards the Fry Mine; and East of the Cyclopic Fault; Stealth Deposit - 1km West of Cyclopic; and PLM Target - 3.3km south of Cyclopic. Cyclopic Deposit Drilling Program: Background: Modeling of the drilling data shows that the deposit consists of numerous mineralised flat-lying layers that pinch and swell, blending into each other in many zones.

The drilling density along the 1.7km-long N-S axis is greater than that of the 800m E-W orientation and clearly shows the continuity of these mineralised structures both along strike and within their repetitions at depth. On the E-W axis, where there is less drill coverage, analysis of historical drilling intercepts 300m east and north of the current drilling also show similar gold mineralisation layering. The 2022 drilling program will target these gaps, where little to no historical drilling was done, aiming to confirm the continuity of the mineralisation and expand the boundaries of the known mineralisation.

Stealth Deposit Drilling Program: Background: The Stealth deposit lies along the Stealth fault, a parallel structure to the Cyclopic fault that continues both north and south of the Stealth deposit. Historical drilling at Stealth identified a significant zone of gold mineralisation where similar layering is present. The Company confirmed the historical results by drilling two diamond drillholes in 2021, which included the following results: STDD001 intersected a broad zone of 55.8m at 0.7 g/t gold from 18.3m Including 23.2m at 1.01 g/t Au from 18.3m and 16.8m @ 0.5 g/t Au from 133.5m.

STDD002 intersected 35.1m at 0.56 g/t Au from 74.4m Including 9.1m at 0.97 g/t Au from 91.1m. The 2022 drill program at Stealth will include coverage of the historical drilled areas and the extension northwards towards the Gold Basin shear.