CANEX Metals Announces Final Take Up of Gold Basin Shares and Expiry of Successful Gold Basin Offer

CALGARY, AB / ACCESS Newswire / February 10, 2026 / CANEX Metals Inc. ("CANEX" or the "Company") (TSXV:CANX) is pleased to announce that a total of 73,026,822 common shares of Gold Basin Resources Corporation ("Gold Basin") (TSX.V:GXX), representing 54.04% of the issued and outstanding common shares of Gold Basin (the "Gold Basin Shares"), have been validly deposited (and not withdrawn) under its offer (the "Offer") to purchase all of the Gold Basin Shares as of the expiry of the mandatory 10-day extension (the "Mandatory Extension Period") of the Offer at 5:00 p.m. (Toronto time) on February 10, 2026. The Mandatory Extension Period was initially announced on January 29, 2026, and the Offer has now expired.

CANEX has initiated the take up process and shareholders of Gold Basin (the "Gold Basin Shareholders") who have tendered during the Mandatory Extension Period will receive the payment of their CANEX shares promptly.

CANEX intends to call a special meeting of Gold Basin Shareholders for the purpose of, among other things, seeking shareholder approval for a subsequent acquisition transaction to complete the privatization of Gold Basin and acquire all Gold Basin Shares not acquired pursuant to the Offer. The special meeting will be called shortly after Gold Basin holds an annual general meeting and a new board of directors is elected. Following the successful completion of such subsequent acquisition transaction, CANEX intends to cause Gold Basin to apply to the TSX Venture Exchange (the "TSXV") to delist the Gold Basin Shares from the TSXV and, if permitted by applicable law, cause Gold Basin to cease to be a reporting issuer (or equivalent) under applicable Canadian securities laws.

EARLY WARNING DISCLOSURE
The purpose of the Offer is to enable CANEX to acquire all of the Gold Basin Shares (of which it currently holds 69,517,629 Gold Basin Shares and following completion of the final take-up it will hold 73,026,822 Gold Basin Shares). A copy of CANEX's early warning report to be filed for the final take-up of Gold Basin Shares can be obtained from Laurel Hill Advisory Group, the information agent for the Offer, by telephone at 1-877-452-7184 (North American Toll-Free Number), 1-416-304-0211 (outside North America) or by email at [e-mail]. CANEX's head office is located at 734 - 7^th Avenue, Suite 1620, Calgary, Alberta, T2P 3P8, Canada.