Update on Loan Agreement with Charrua Capital LLC.

(TheNewswire)

January 19, 2025 – TheNewswire - Vancouver, British Columbia - Gold BasinResources Corporation (the "Company", "GoldBasin") – (TSX-V GXX, OTCQB: GXXFF) announces an update to terms on a loan by Charrua CapitalLLC. (“Charrua”).

Gold Basin Resources obtained an unsecured loan withCharrua Capital LLC. (USA) in 2024 for Five Hundred Thousand USdollars (USD $500,000) at an interest rate of 15% per annum to provideshort-term working capital. The loan was provided on an arm’s lengthbasis.

Since the loan was drawn, interest obligations ofapproximately One Hundred and Seventeen Thousand dollars (USD 117,652)have accrued, bringing the total outstanding loan amount to SixHundred and Seventeen Thousand, Six Hundred Fifty-Two Dollars (USD$617,652).

Update on Terms

Charrua Capital LLC. (USA) has agreed to forbearexercising its rights and remedies under the Loan Agreement until 31March 2026.

Under the terms of forbearance, Charrua has agreed toreduce the interest rate on the loan from 15% to 9% through the period1 January 2026 until 31 March 2026.

Furthermore, the loan is no longer unsecured, withCharrua amending terms to place security against the 100%-ownedprivate minerals parcels in the Gold Basin Project (shown in yellow onMap 1, below) during the forbearance period, which will be removedwhen payments resume to the satisfaction of Charrua CapitalLLC.

Click Image To View Full Size

The parcels under security are listed shown above inyellow. These parcels are mostly undrilled, except for an area thatcovers part of the mineralisation defined at the StealthDeposit.

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ABOUT GOLD BASIN RESOURCES CORPORATION

Gold Basin Resources Corporation is advancing the GoldBasin Project, located in the tier one mining jurisdiction of Mohave County, Arizona.  Gold Basin isaccessible year-round via a 1.5-hour-drive on Highway I-93 southeastof Las Vegas, and high-power electrical lines from the Hoover Damcrosscut the southern Project area.  The immediate focus of GoldBasin's highly experienced technical team is to expand anddelineate multiple at-surface oxide gold deposits and prove theproject's district-scale potential. For further information,please visit the Company's web site at: www.goldbasincorp.com.

On Behalf of the Board of Directors

Charles Straw

President, Director & interim CEO

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statementsand forward-looking information (collectively, "forward lookingstatements") within the meaning of applicable Canadian and U.S.securities legislation, including the United States Private SecuritiesLitigation Reform Act of 1995. All statements, other than statementsof historical fact, included herein including, without limitation,future assay results from further programs, future plans for drillingat the Stealth Deposit, the Company's expectation that it will besuccessful in enacting its business plans, and the anticipatedbusiness plans and timing of future activities of the Company, areforward looking statements. Although the Company believes that suchstatements are reasonable, it can give no assurance that suchexpectations will prove to be correct. Forward-looking statements aretypically identified by words such as: "believes","will", "expects", "anticipates","intends", "estimates", "plans","may", "should", "potential","scheduled", or variations of such words and phrases andsimilar expressions, which, by their nature, refer to future events orresults that may, could, would, might or will occur or be taken orachieved. In making the forward-looking statements in this newsrelease, the Company has applied several material assumptions,including without limitation, that that there will be investorinterest in future financings, market fundamentals will result insustained precious metals demand and prices, the receipt of anynecessary permits, licenses and regulatory approvals in connectionwith the future exploration and development of the Company'sprojects in a timely manner, the availability of financing on suitableterms for the exploration and development of the Company'sprojects and the Company's ability to comply with environmental,health and safety laws. The Company cautions investors that anyforward-looking statements by the Company are not guarantees of futureresults or performance, and that actual results may differ materiallyfrom those in forward-looking statements as a result of variousfactors, including, operating and technical difficulties in connectionwith mineral exploration and development activities, actual results ofexploration activities, the estimation or realization of mineralreserves and mineral resources, the inability of the Company to obtainthe necessary financing required to conduct its business and affairs,as currently contemplated, the timing and amount of estimated futureproduction, the costs of production, capital expenditures, the costsand timing of the development of new deposits, requirements foradditional capital, future prices of precious metals, changes ingeneral economic conditions, changes in the financial markets and inthe demand and market price for commodities, lack of investor interestin future financings, accidents, labour disputes and other risks ofthe mining industry, delays in obtaining governmental approvals,permits or financing or in the completion of development orconstruction activities, risks relating to epidemics or pandemics suchas COVID–19, including the impact of COVID–19 on theCompany's business, financial condition and results ofoperations, changes in laws, regulations and policies affecting miningoperations, title disputes, the inability of the Company to obtain anynecessary permits, consents, approvals or authorizations, including bythe TSX Venture Exchange, the timing and possible outcome of anypending litigation, environmental issues and liabilities, and risksrelated to joint venture operations, and other risks and uncertaintiesdisclosed in the Company's latest Management's Discussionand Analysis and filed with certain securities commissions in Canada.All of the Company's Canadian public disclosure filings may beaccessed via www.sedar.com and readers are urged to review thesematerials. Readers are cautioned not to place undue reliance onforward-looking statements. The Company undertakes no obligation toupdate any of the forward-looking statements in this news release orincorporated by reference herein, except as otherwise required bylaw.

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