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Update to Shareholders
Thenewswire· 2026-01-08 14:30
Core Viewpoint - Gold Basin Resources Corporation is focused on resuming trading and enhancing its valuation through a Maiden Resource Estimate expected in early 2026 [1][8] Group 1: Project Overview - The Gold Basin Project in Arizona features significant, shallow oxide gold mineralization extending over 7 kilometers, positioning it as a leading oxide gold exploration project in the western USA [2] Group 2: Hostile Takeover - The Board of Gold Basin Resources strongly urges shareholders to reject the hostile takeover bid from Canex Metals Inc., asserting that it undervalues the mineral resources of the Gold Basin Project identified through successful drilling campaigns [3][4] - Major shareholders have committed to rejecting the Canex offer, and the Board is confident in defeating this takeover attempt [5] Group 3: Strategic Initiatives - The Board and key shareholders are united in a strategy to maximize the Company's asset potential, which includes resuming trading as soon as possible [6][7] - The strategy involves delivering a Maiden Resource in early 2026, expanding that resource through new drilling campaigns, and providing a preliminary economic assessment of the project [8] Group 4: Partnerships and Technical Support - Gold Basin's partner, Helix Resources, has engaged an independent mining consultancy to deliver the Maiden Resource estimate for the Cyclopic and Stealth Deposits in early 2026, with work having resumed after the holiday break [9] Group 5: Board Appointments - Mr. Andrew Mendelawitz has been appointed as a Non-Executive Director, supporting the revised strategy and rejecting the hostile takeover bid [10] - His appointment reflects the Board's commitment to improving communication with investors regarding strategy and milestones [11] Group 6: Company Background - Gold Basin Resources Corporation is advancing the 42 km² Gold Basin Project located in Mohave County, Arizona, with a focus on expanding and delineating multiple at-surface oxide gold deposits [12]