• Helix entered into conditional binding agreements with Gold Basin Resources Corporation in April 2025 to earn-in and joint venture up to 40% interest in the Gold Basin oxide gold project
• Canex Metals Inc. made a hostile takeover bid for Gold Basin, requiring 66.67% take up and annulment of the Helix-Gold Basin JV Agreement
• Canex waived the 66.7% condition and obtained 49% take up, but Helix understands most of Gold Basin's largest shareholders have rejected the bid

Helix Resources Limited (ASX: HLX) has provided an update on the Gold Basin project, located in the prolific Walker Lane Gold Trend. In April 2025, Helix entered into conditional binding agreements with TSX-V and OTCQB-listed Gold Basin Resources Corporation to earn-in and joint venture up to a 40% interest in the Gold Basin oxide gold project. Following the execution of the binding agreements, a hostile takeover bid for Gold Basin was subsequently made by Canex Metals Inc., a TSX-V listed company whose tenements abut Gold Basin's to the east. The initial conditions of Canex's takeover bid required a 66.67% take up of the offer by Gold Basin shareholders and the annulment / dissolution of the Helix-Gold Basin JV Agreement. A civil petition was made to the British Columbia Court to hear the matter, by former Canadian Directors of Gold Basin, but both Gold Basin Resources and Helix responded rejecting its basis on jurisdictional grounds. On 9th January 2026, Canex waived the 66.7% condition in the takeover bid and announced they had managed to obtain a 49% take up, despite number extensions of the offer. Helix understands that most of Gold Basin's largest shareholders have rejected the bid and stand behind the incumbent management and strategy. Helix continues to monitor the current takeover situation and remains in close contact with the Gold Basin Resources Board, stating it will make further announcements as required as part of its continuous disclosure obligation.