(TheNewswire)

Vancouver, British Columbia –


TheNewswire – March 15, 2024
–


Gold Basin Resources
Corporation (the “Company” or “Gold Basin”) –
(TSXV:GXX


)


,


(


OTC:GXXFF)

today
announced the appointment of Anthony Balic and Michael Povey to the
board of directors of the Company (the ”

Board

“), with Mr. Balic being
appointed as an independent director.  In connection with the
appointments of Messrs. Balic and Povey, Jonathan Lotz, John Robins
and Jim Paterson have resigned as directors of the Company.
 Following the reconstitution of the Board, the Board is now
comprised of four (4) directors, of which two (2) are independent.

Colin Smith, Chief Executive Officer of the Company,
commented,


“We are
excited to welcome Michael Povey back to Gold Basin as a director,
and also welcome Anthony Balic to the Company.  We are appreciative
of the contributions of Messrs. Lotz, Robins, Paterson, and the
Discovery Group and wish all parties well in their future
endeavours.”

The Company expects that the newly appointed directors,
along with incumbent directors Charles Straw and Grant Duddle, will
all stand for election at the upcoming annual general and special
meeting of shareholders of the Company.

Anthony Balic – Director

Mr. Balic is a Chartered Professional Accountant (CPA)
and is a Principal of Katuni Capital Corp., a private company
providing corporate finance, accounting and capital advisory services
to private and public companies.  Mr. Balic serves as a director
and/or officer to a number of junior public companies in the natural
resource sector and was previously a senior manager at Deloitte LLP,
where he specialized in assurance and advisory services for publicly
listed mining companies based both in Canada and the United
States.

Michael Povey – Director

Mr. Povey is a mining engineer, who previously served
as the Chief Executive Officer and a director of the Company, with
over 40 years of worldwide experience in the resource sector in a wide
range of commodities.  He has held senior management positions in
various public companies including Rio Tinto and Anglo American, with
surface and underground mining operations in Africa, North America,
and Australia. Over the past 20 years, Mike has held positions as
Chairman, Managing Director, and Technical Director of several ASX and
AIM listed companies where he has led project acquisitions,
exploration programs, JV negotiations and equity raisings.  Mike is a
Chartered Engineer and a Member of the Australian Institute of Mining
and Metallurgy and holds a number of Certificates of Competency,
including a West Australian Mine Managers Certificate.

APPOINTMENT OF NEW CHIEF FINANCIAL
OFFICER

The Company also announces the appointment of Mark Lotz
as the Chief Financial Officer and Corporate Secretary of the Company.
 Mr. Lotz holds a Bachelor’s degree in Business Administration with
a joint major in Economics.  He is a Chartered Professional
Accountant with 26 years of post-qualification experience and has
extensive experience in the capital markets across a broad
cross-section of industries including SaaS (software as a service),
manufacturing, mining, technology, and financial services.  Mr. Lotz
has held CFO and other senior financial positions with several
well-known mining and exploration companies.  He has also served as a
senior executive officer in the securities brokerage industry.  Prior
to that, he served as a securities regulator, following his tenure at
Coopers & Lybrand where he focused on the mining and tax
sectors.

Mr. Lotz replaces Monty Sutton as Chief Financial
Officer and Jacqueline Collins as Corporate Secretary, respectively.

ABOUT


GOLD


BASIN


RESOURCES


CORPORATION

Gold Basin Resources Corporation is
advancing the 42 km


2


Gold
Basin Project, located in the tier one mining jurisdiction of Mohave
County, Arizona.  Gold Basin is accessible year-round via a
1.5-hour-drive on I-93 Highway southwest of Las Vegas, and high-power
electrical lines from the Hoover Dam crosscut the southern Project
area.  The immediate focus of Gold Basin’s highly experienced
technical team is to expand and delineate multiple at-surface oxide
gold deposits and prove the project’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

Colin Smith

Chief Executive Officer

For further information, please
contact:

Michael Rapsch

Investor Relations

Email:




mrapsch@goldbasincorp.com

Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this news release.

FORWARD-LOOKING


STATEMENTS:

This news release contains forward-looking statements
and forward-looking information (collectively, “forward looking
statements”) within the meaning of applicable Canadian and U.S.
securities legislation.  All statements, other than statements of
historical fact, included herein are forward-looking statements.
 Although the Company believes that such statements are reasonable,
it can give no assurance that such expectations will prove to be
correct.  Forward-looking statements are typically identified by
words such as: “believes”, “expects”,
“anticipates”, “intends”, “estimates”,
“plans”, “may”, “should”,
“would”, “will”, “potential”,
“scheduled” or variations of such words and phrases and
similar expressions, which, by their nature, refer to future events or
results that may, could, would, might or will occur or be taken or
achieved.  Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to differ
materially from any future results, performance or achievements
expressed or implied by the forward looking information.  Such risks
and other factors include anticipated business plans, direction and
timing of future activities of the Company, the ability of the Company
to obtain sufficient financing to fund its business activities and
plans, delays in obtaining governmental and regulatory approvals
(including of the TSX Venture Exchange), permits or financing, changes
in laws, regulations and policies affecting mining operations,
currency fluctuations, title disputes or claims, environmental issues
and liabilities, risks relating to epidemics or pandemics such as
COVID–19, including the impact of COVID–19 on the Company’s
business, financial condition and results of operations, changes in
laws, regulations and policies affecting mining operations, title
disputes, the inability of the Company to obtain any necessary
permits, consents, approvals or authorizations, the timing and
possible outcome of any pending litigation, environmental issues and
liabilities, and risks related to joint venture operations, and other
risks and uncertainties disclosed in the Company’s continuous
disclosure documents.  All of the Company’s Canadian public
disclosure filings may be accessed via www.sedarplus.ca and readers
are urged to review these materials.

Readers are cautioned not to place undue reliance on
forward-looking statements.  The Company does not undertake any
obligation to update any of the forward-looking statements in this
news release or incorporated by reference herein, except as otherwise
required by law.

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