CANEX Metals announces definitive acquisition of Gold Basin shares and expiration of successful Gold Basin offering

CALGARY, AB / ACCESS Newsline / February 10, 2026 / Canex Metals Inc. (“CANEX” or the “Company”) (TSXV:CANX,OTC:NOMNF) is pleased to announce that in total 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the issued and outstanding common shares of Gold Basin (the “Gold Basin Stocks“), have been validly deposited (and not withdrawn) under his offer (the “Offer“) to purchase all Gold Basin shares upon expiration of the mandatory 10-day extension (the “Mandatory renewal period“) of the Offering at 5:00 p.m. (Toronto time) on February 10, 2026. The Mandatory Renewal Period was initially announced on January 29, 2026 and the Offering has now expired.

CANEX initiated the incorporation process and Gold Basin shareholders (the “Gold Basin Shareholders“) who submitted a bid during the Mandatory Extension Period will receive payment for their CANEX shares immediately.

CANEX intends to convene a special meeting of Gold Basin shareholders for the purpose of, among other things, seeking shareholder approval for a subsequent takeover 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 convened shortly after Gold Basin holds an annual general meeting and a new board of directors is elected. Upon the successful completion of such subsequent takeover transaction, CANEX intends to cause Gold Basin to register with the TSX Venture Exchange (the “TSXV“) to delist Gold Basin’s shares from the TSXV and, if permitted by applicable law, cause Gold Basin to cease being 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 owns 69,517,629 Gold Basin Shares and upon completion of the final incorporation it will hold 73,026,822 Gold Basin Shares). A copy of CANEX’s early warning report to be filed for the final inclusion of Gold Basin shares may be obtained from Laurel Hill Advisory Group, the information agent for the Offer, by telephone at 1-877-452-7184 (North American toll-free), 1-416-304-0211 (outside North America) or by email at Assistance@laurelhill.com. CANEX’s main office is located at 734 – 7^e Avenue, Suite 1620, Calgary, Alberta, T2P 3P8, Canada.

Advisors
CANEX has appointed Borden Ladner Gervais LLP as legal counsel and Laurel Hill Advisory Group as information agent.

About Canex Metals
Canex Metals (TSXV:CANX,OTC:NOMNF) is a Canadian junior exploration company focused on advancing its 100% owned Gold Range Project in Northern Arizona. With several bulk tonnage gold discoveries to date in the vicinity of a 4 km gold mineralized trend, the Gold Range Project is an attractive opportunity for early stage investors. CANEX is also advancing the Louise Copper-Gold Porphyry Project in British Columbia. Louise contains a large historic copper-gold resource that has seen very little deep or lateral exploration, offering investors potential for copper and gold discovery. CANEX is led by an experienced management team that has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX:ALS), a major shareholder in the company.

Dr. Shane Ebert P. Geo. is the Qualified Person for CANEX and has verified the data in this press release against historical and current data sources and has approved the technical disclosure in this press release.

“Shane Ebert”
Shane Ebert, President/CEO

For more information please contact:

Shane Ebert at 1.250.964.2699 or
Jean Pierre Jutras at 1.403.233.2636
Web: http://www.canexmetals.ca

US notice
The Offer is made for the securities of a foreign company. The Offer is subject to disclosure requirements of a country other than the United States. The financial statements, if any, included in the offering materials have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of U.S. companies. It may be difficult for you to enforce any rights and claims you may have under the federal securities laws because the issuer is located in a foreign country and some or all of its officers and directors may be residents of a foreign country. You may not be able to sue a foreign company or its officers or directors in a foreign court for violations of U.S. securities laws. It can be difficult to force a foreign company and its subsidiaries to submit to the judgment of a U.S. court. You should be aware that the issuer may purchase securities other than under the Offering, such as on the open market or privately negotiated purchases, in accordance with applicable law. Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities to be issued in the Offer or passed any opinion on the adequacy or accuracy of the materials contained in the Offer. Any statement to the contrary is a criminal offence.

Forward-Looking Statements
Except for the historical and current factual information contained herein, the matters set forth in this press release, including words such as “potential,” “intends,” “opportunities” and similar expressions, are forward-looking information that represents management’s internal projections, expectations or beliefs of Canex Metals Inc. relating to, among other things: CANEX’s plans for Gold Basin following the acquisition of Gold Basin shares; the intention to complete a subsequent acquisition transaction for the privatization of Gold Basin; the intention to cause Gold Basin to delist its Gold Basin shares from the TSXV and cease to be a reporting issuer under applicable Canadian securities laws; and future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied in such forward-looking statements. These risks and uncertainties include, among others, the risk that the transactions contemplated by the Offer will not be consummated; and the risks described in CANEX’s filings with Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

SOURCE: Canex Metals Inc.

View the original press release on ACCESS Newswire