# EDGAR Filing Document

**Accession Number:** 0001882636
**File Stem:** 0001104659-26-008624
**Filing Date:** 2026-1
**Character Count:** 80938
**Document Hash:** ef7bd1b8229da2889dcbcd9f12891dc3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-008624.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001104659-26-008624

**CONFORMED SUBMISSION TYPE**: CB/A

**PUBLIC DOCUMENT COUNT**: 9

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gold Basin Resources Corp
- **CENTRAL INDEX KEY:** 0001882636

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** CB/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95212
- **FILM NUMBER:** 26583309

**BUSINESS ADDRESS:**
- **STREET 1:** 1170-1040 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 4H1
- **BUSINESS PHONE:** 778.650.5457

**MAIL ADDRESS:**
- **STREET 1:** 1170-1040 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 4H1
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Canex Metals Inc.
- **CENTRAL INDEX KEY:** 0001870046

**ORGANIZATION NAME:**
- **EIN:** 352669405
- **STATE OF INCORPORATION:** A0
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** CB/A

**BUSINESS ADDRESS:**
- **STREET 1:** 808-4TH AVENUE SW
- **STREET 2:** SUITE 815
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2P 3E8
- **BUSINESS PHONE:** 403-233-2636

**MAIL ADDRESS:**
- **STREET 1:** 808-4TH AVENUE SW
- **STREET 2:** SUITE 815
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2P 3E8

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM CB/A**

**TENDER OFFER/RIGHTS OFFERING NOTIFICATION FORM**

Please place an X in the box(es) to designate the appropriate rule provision(s) relied upon to file this Form:

---

| | |
|:---|:---|
| Securities Act Rule 801 (Rights Offering) | &nbsp;&nbsp;&nbsp;◻ |
| Securities Act Rule 802 (Exchange Offer) | &nbsp;&nbsp;&nbsp;⌧ |
| Exchange Act Rule 13e-4(h)(8) (Issuer Tender Offer) | &nbsp;&nbsp;&nbsp;◻ |
| Exchange Act Rule 14d-1(c) (Third Party Tender Offer) | &nbsp;&nbsp;&nbsp;◻ |
| Exchange Act Rule 14e-2(d) (Subject Company Response) | &nbsp;&nbsp;&nbsp;◻ |

---

---

| |
|:---|
| **Gold Basin Resources Corporation** |
| (Name of Subject Company)<br>**N/A** |
| (Translation of Subject Company's Name into English (if applicable))<br>**Alberta, Canada** |
| (Jurisdiction of Subject Company's Incorporation or Organization)<br>**CANEX Metals Inc.** |
| (Name of Person(s) Furnishing Form)<br>**Common Stock** |
| (Title of Class of Subject Securities)<br>**N/A** |
| (CUSIP Number of Class of Securities (if applicable)<br>CANEX Metals Inc.<br> 734 - 7th Avenue SW, Suite 1620<br> Calgary, Alberta, Canada, T2P 3E8<br> Attn: Barbara O'Neill<br> Phone: 403-233-2636 |
| (Name, Address (including zip code) and Telephone Number (including area code) of Person(s) Authorized to Receive Notices and Communications on Behalf of Subject Company)<br>N/A |
| (Date Tender Offer/Rights Offering Commenced) |

---

**PART I - INFORMATION SENT TO SECURITY HOLDERS**

**Item 1. Home Jurisdiction Documents**

**<u>Exhibit Number</u>**

---

| | |
|:---|:---|
| &nbsp;&nbsp;[99.1](tm263613d2_ex99-1.htm) | &nbsp;&nbsp;[Press Release, dated January 29, 2026](tm263613d2_ex99-1.htm) |
| &nbsp;&nbsp;[99.2](tm263613d2_ex99-2.htm) | &nbsp;&nbsp;[Notice of Variation, Change and Extension of Offer to Purchase, dated January 30, 2026.](tm263613d2_ex99-2.htm) |
| &nbsp;&nbsp;[99.3](tm263613d2_ex99-3.htm) | &nbsp;&nbsp;[Advertisement containing the Notice of Variation, Change and Extension of Offer to Purchase, published in the Financial Post on January 30, 2026.](tm263613d2_ex99-3.htm) |

---

**Item 2. Informational Legends**

This Offer is made for the securities of a Canadian issuer and by a Canadian issuer. The Offer is subject to disclosure requirements of Canada that are different from those of the United States. Financial statements included in the document, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies.

It may be difficult for Shareholders in the United States to enforce their rights and any claim they may have arising under the federal securities laws, since the Offeror is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. Shareholders in the United States may not be able to sue the Offeror or the Company or their officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel the Offeror or the Company or their respective affiliates to subject themselves to a U.S. court's judgment.

You should be aware that the Offeror may purchase securities otherwise than under the Offer, such as in open market or privately negotiated purchases.

THE OFFEROR COMMON SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC") OR ANY U.S. STATE SECURITIES COMMISSION NOR HAS THE SEC OR ANY U.S. STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

**PART II - INFORMATION NOT REQUIRED TO BE SENT TO SECURITY HOLDERS**

None.

2 of 3

**PART III - CONSENT TO SERVICE OF PROCESS**

CANEX Metals Inc. submitted a Form F-X with the United States Securities and Exchange Commission, dated August 29, 2025, appointing an agent for service of process in connection with the transaction to which this Form CB/A relates.

**PART IV - SIGNATURES**

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

---

| | |
|:---|:---|
| **CANEX Metals Inc.** | **CANEX Metals Inc.** |
| By: | /s/Barbara O/Neill |
| Name: | Barbara O'Neill |
| Title: | Corporate Secretary |
| Date: | January 30, 2026 |

---

3 of 3

## Exhibit 99.1

**Exhibit 99.1**

**CANEX Metals Inc.**

Suite 1620, 734 - 7<sup>th</sup> Avenue S.W., Calgary, Alberta, T2P 3P8

PH: 403.233.2636 fax: 403.266.2606

------

---

| | |
|:---|:---|
| NEWS RELEASE: 26-4 | **January 29, 2026** |

---

Trading Symbol: TSX Venture-**CANX**

**CANEX METALS ANNOUNCES SUCCESS OF GOLD BASIN TAKE-OVER BID, EXTENSION OF THE PARTIAL REVOCATION OF THE CEASE-TRADE ORDER IMPOSED ON GOLD BASIN, WAIVER OF ALL REMAINING CONDITIONS, INITIATION OF THE SHARE TAKE UP PROCESS, AND MANDATORY 10-DAY EXTENSION** 

Calgary, Alberta - CANEX Metals Inc. ("CANEX" or the "Company") (TSX.V:CANX) is very pleased to announce that it has satisfied the statutory minimum tender requirement for its offer (the "Offer") to acquire all of the issued and outstanding common shares of Gold Basin Resources Corporation ("Gold Basin") (TSX.V:GXX), plans; has received an order from the British Columbia Securities Commission ("BCSC") dated January 28, 2026 (the "Partial Revocation Extension Order"), extending the partial revocation order dated August 18, 2025 (the "Partial Revocation Order") with respect to the cease-trade order imposed on Gold Basin on May 6, 2025; has waived all remaining conditions to the Offer, and is proceeding to take-up shares under the Offer. CANEX is also announcing the mandatory 10-day extension of the Offer (the "Extension"), in accordance with Canadian securities laws. Following the share take-up CANEX will become the controlling shareholder of Gold Basin and will work diligently to unlock the immense potential of the large and advanced oxide-gold district in Northern Arizona.

**Highlights:**

&nbsp;&nbsp;&nbsp;&nbsp;· **More than 51% of the shares of Gold Basin ("Gold Basin Shares") have been deposited under the CANEX Offer and the process for take-up and payment is underway, after which CANEX will become the controlling shareholder of Gold Basin. CANEX will proceed with the steps required to gain board control, address and clean up Gold Basin's regulatory deficiencies and debts, and get to work unlocking shareholder value** 

&nbsp;&nbsp;&nbsp;&nbsp;· **The BCSC has granted the Partial Revocation Extension Order, which provides that the Partial Revocation Order will now expire on March 31, 2026** 

&nbsp;&nbsp;&nbsp;&nbsp;· **CANEX announces a mandatory Extension to February 10, 2026 at 5:00 p.m. (Toronto time), to allow those remaining shareholders of Gold Basin ("Gold Basin Shareholders") that have not tendered time to deposit their Gold Basin Shares under the Offer** 

&nbsp;&nbsp;&nbsp;&nbsp;· **Following the Extension, CANEX will take up the additional shares tendered by the revised expiry time of February 10, 2026 at 5:00 p.m. (Toronto time) and does not intend to issue any further extensions** 

&nbsp;&nbsp;&nbsp;&nbsp;· **CANEX encourages all remaining Gold Basin Shareholders to tender to the Offer. Gold Basin Shares continue to be cease-traded and are likely to remain so for the foreseeable future. The Extension is the final near-term opportunity for Gold Basin Shareholders to realize liquidity and value** 

Dr. Shane Ebert, President and CEO of CANEX Metals: "We are extremely excited to have achieved this >50% milestone in our journey to consolidate an amazing property, bringing together large defined gold trends, numerous known deposits, and immense upside. The combined Gold Range and Gold Basin properties will have scale, grade, multiple new exploration opportunities, and key logistical synergies. Management, regulatory, and financial issues have sidelined the Gold Basin project which has not participated in one of the best gold bull markets we have seen in over 20 years. This consolidation effort marks a turning point where all involved can come together with a focused and determined objective of realizing the full value and potential of this exceptional district."

**CANEX Offer and Mandatory Offer Extension** 

CANEX is pleased to announce that **68,994,029** Gold Basin Shares have been deposited and not withdrawn under the Offer at the expiry time of January 29, 2026 at 5:00 p.m. (Toronto time) (the "Initial Expiry Time"), representing **51.06%** of Gold Basin Shares.

Prior to the Initial Expiry Time, CANEX has agreed to waive all remaining conditions to the Offer. As each of the conditions to the Offer were satisfied or waived as of the Initial Expiry Time, CANEX will proceed with immediate take-up of the Gold Basin Shares deposited under the Offer and payment for such deposited Gold Basin Shares as soon as possible, and in any event not later than three business days after the Gold Basin Shares are taken up.

As required by Canadian securities laws, CANEX has made the Extension to allow those that have not yet tendered their Gold Basin Shares additional time to deposit their Gold Basin Shares under the Offer. The Offer will now expire on February 10, 2026 at 5:00 p.m. (Toronto time). **CANEX does not intend to further extend the Offer, meaning this is the final opportunity for Gold Basin Shareholders to take advantage of the Offer and realize value and liquidity for the Gold Basin Shares.** 

CANEX does not intend to restore Gold Basin to active trading in the near term, as the Company's immediate goal is to merge Gold Basin into CANEX to realize overhead and operational efficiencies. CANEX will address and rectify regulatory deficiencies, install a new board of directors, settle debts and lawsuits, and work to facilitate a Subsequent Acquisition Transaction (as defined in the Original Offer and Circular). There is no certainty that CANEX will conclude a Subsequent Acquisition Transaction.

CANEX's Offer provides Gold Basin Shareholders for each Gold Basin Share tendered and successfully taken up with 0.592 of a CANEX share, which represents an implied premium of **314%**, based on CANEX's 30-day VWAP on January 29, 2026, and Gold Basin's 30-day VWAP on its last trading day, May 6, 2025. The Offer value equates to approximately $**23,200,000** or roughly $**0.172** per Gold Basin Share based on CANEX's January 29, 2026 closing price.

An advertisement with respect to the Extension will appear in the Friday, January 30, 2026 edition of *The National Post*. A notice of variation, change and extension (the "Notice of Variation and Change") with respect to the Offer is being mailed to the securityholders of Gold Basin. The Notice of Variation and Change will also be available under Gold Basin's profile on SEDAR+ at www.sedarplus.com and on CANEX's website at www.canexmetals.ca and will be filed with the applicable securities regulatory authorities in Canada and the U.S. Securities and Exchange Commission in the United States.

In addition to the Extension, the Notice of Variation and Change will include updates to the information set forth in CANEX's original offer and accompanying take-over bid circular dated August 28, 2025, as amended by the notices of variation, change and extension dated December 12, 2025, January 9, 2026, and January 19, 2026 (the "Original Offer and Circular").

Copies of the Original Offer and Circular are, and copies of the Notice of Variation and Change will be, available without charge from Laurel Hill Advisory Group, acting as the information agent for the Offer.

Gold Basin Shareholders with questions or who need assistance tendering their Gold Basin Shares should contact Laurel Hill Advisory Group by calling 1-877-452-7184 (toll-free in Canada and the United States), or 1-416-304-0211 (collect call outside of Canada and the United States), by texting "INFO" to either number, or by email at assistance@laurelhill.com.

**Partial Revocation Extension Order**

It is a condition of the Offer that the Partial Revocation Order shall remain in force and effect. The Partial Revocation Order provides that it will expire on January 31, 2026. On January 28, 2026, the BCSC granted the Partial Revocation Extension Order, which provides that the Partial Revocation Order will now expire on March 31, 2026; provided, however, that if more than 50% of the Gold Basin Shares have been tendered to the Offer and taken up and paid for by CANEX on or prior to March 31, 2026, the Partial Revocation Order will expire on June 30, 2026 in respect of a Compulsory Acquisition or Second Step Transaction (as such terms are defined in the Original Offer and Circular) undertaken by CANEX to facilitate the acquisition by CANEX of 100% of the issued and outstanding Gold Basin Shares.

**Early Warning Disclosure**

The purpose of the Offer is to enable CANEX to acquire all of the issued and outstanding Gold Basin Shares. A copy of CANEX's early warning report to be filed for the initial take-up of Gold Basin Shares can be obtained from Laurel Hill Advisory Group, the information agent for the Offer, by calling 1-877-452-7184 (toll-free in Canada and the United States), or 1-416-304-0211 (collect call outside of Canada and the United States), by texting "INFO" to either number, or by email at assistance@laurelhill.com. CANEX will file an early warning report, as required by applicable securities laws, for any additional take-up of Gold Basin Shares.

**Advisors**

CANEX has retained Borden Ladner Gervais LLP as its legal advisor and Laurel Hill Advisory Group as its information agent.

**About CANEX Metals**

CANEX Metals (TSX.V:CANX) is a Canadian junior exploration company focused on advancing its 100% owned Gold Range Project in Northern Arizona. With several near surface bulk tonnage gold discoveries made to date across a 4 km gold mineralized trend, the Gold Range Project is a compelling early-stage opportunity for 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 copper and gold discovery potential. CANEX is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX: ALS), a large shareholder of the Company.

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

"Shane Ebert"

Shane Ebert, President/Director

For Further Information Contact:

**Shane Ebert at 1.250.964.2699 or** 

**Jean Pierre Jutras at 1.403.233.2636** 

**Web: http://www.canexmetals.ca**

Gold Basin Shareholders:

**Laurel Hill Advisory Group**

North American Toll Free: **1-877-452-7184**

Outside North America**: 1-416-304-0211** 

Email: **assistance@laurelhill.com**

*Neither the 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 release.*

**U.S. Notice**

The Offer is being made for the securities of a foreign company. The Offer is subject to disclosure requirements of a foreign country that are different from those of the United States. Financial statements included in the Offer materials, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies. It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since 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 the U.S. securities laws. It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgment. You should be aware that the issuer may purchase securities otherwise than under the Offer, such as in 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 upon the adequacy or accuracy of the Offer materials. Any representation to the contrary is a criminal offense.

**Forward-Looking Statements**

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "potential", "intend", "risks", "opportunities" and similar expressions, are forward-looking information that represents management of CANEX Metals Inc.'s internal projections, expectations or beliefs concerning, among other things: the Offer; any further extension of the expiry time of the Offer; CANEX's plans for Gold Basin after take-up of Gold Basin Shares; the expected benefits to Gold Basin Shareholders of tendering their Gold Basin Shares to the Offer; whether Gold Basin will regain regulatory compliance; 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 by such forward-looking statements. These risks and uncertainties include, among other things, the risk that the transactions contemplated by the Offer will not be consummated; and those risks described in CANEX's filings with the 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.

## Exhibit 99.2

**Exhibit 99.2**

*The Offer has not been approved by any securities regulatory authority nor has any securities regulatory authority expressed an opinion about the fairness or merits of the Offer, the securities offered pursuant to the Offer or the adequacy of the information contained in this document. Any representation to the contrary is an offence. **Shareholders in the United States should read the "Notice to Shareholders in the United States and Other Shareholders Outside Canada" on page (iv) (continuation of the cover page) of this Notice of Variation, Change and Extension.***

*This document is important and requires your immediate attention. It should be read in conjunction with the Original Offer and Circular (as defined below), as amended by the First Notice of Variation, Change and Extension (as defined below), the Second Notice of Variation, Change and Extension (as defined below), and the Third Notice of Variation, Change and Extension (as defined below). If you are in doubt as to how to deal with it, you should consult your investment dealer, broker, lawyer or other professional advisor.*

*If you have questions, please contact Laurel Hill Advisory Group, the information agent in connection with the Offer, by telephone at 1-877-452-7184, (1-416-304-0211 for collect calls outside North America), by texting "INFO" to either number, or by email at assistance@laurelhill.com.*

*Neither this document, the Original Offer and Circular, as amended by the Notices (as defined below), the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension nor the Third Notice of Variation, Change and Extension, constitutes an offer or a solicitation to any Person in any jurisdiction in which such offer or solicitation is unlawful. The Offer is not being made to, nor will deposits be accepted from or on behalf of, Shareholders (as defined below) in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the Laws of such jurisdiction. However, the Offeror may, in its sole discretion, take such action as it may deem necessary to extend the Offer to Shareholders in any such jurisdiction.*

January 30, 2026

**<br>** <br> ![](logo-01.jpg)

**CANEX METALS INC.**

**NOTICE OF VARIATION, CHANGE AND EXTENSION**

**of OFFER TO PURCHASE**

**all of the issued and outstanding common shares of**

**GOLD BASIN RESOURCES CORPORATION**

**on the basis of 0.592 of a common share of CANEX Metals Inc.<br> for each common share of Gold Basin Resources Corporation**

CANEX Metals Inc. ("**CANEX**" or the "**Offeror**") hereby gives notice that it is varying certain terms and conditions of its offer dated August 28, 2025 (the "**Original Offer**") as amended by the Notice of Variation, Change and Extension dated December 12, 2025 (the "**First Notice of Variation, Change and Extension**"), the Notice of Variation, Change and Extension dated January 9, 2026 (the "**Second Notice of Variation, Change and Extension**"), and the Notice of Variation, Change and Extension dated January 19, 2026 (the "**Third Notice of Variation, Change and Extension**"), to purchase, on the terms and subject to the conditions of the Offer, all of the issued and outstanding common shares (the "**Shares**") in the capital of Gold Basin Resources Corporation ("**Gold Basin**" or the "**Company**"), including any Shares that may become issued and outstanding after the date of the Original Offer but prior to the Expiry Time (as defined below), to: (a) extend the Expiry Time of the Offer to 5:00 p.m. (Toronto Time) on February 10, 2026; and (b) provide additional disclosure, including, but not limited to, (i) the satisfaction or waiver all of the conditions to Offer, including the Statutory Minimum Condition, as of 5:00 p.m. (Toronto time) on January 29, 2026 (being the expiry time of the initial deposit period), (ii) the direction to the Depositary to take up and pay for all Shares that were validly deposited and not withdrawn under the Offer as of the expiry time of the initial deposit period, and (iii) the variation of the Partial Revocation Order to extend the expiry date of the Partial Revocation Order.

The Offer is made only for Shares and is not made for any Convertible Securities (including Options) or other rights to acquire Shares.

**The Offer has been extended and now remains open for acceptance until 5:00 p.m. (Toronto Time) on February 10, 2026 (the "Expiry Time"), unless the Offer is further extended, accelerated or withdrawn by the Offeror in accordance with its terms. This extension constitutes the Mandatory Extension Period contemplated in the Offer and Circular.**

This Notice of Variation, Change and Extension should be read in conjunction with: (a) the Original Offer and accompanying take-over bid circular dated August 28, 2025 (the "**Original Circular**" and together with the Original Offer, the "**Original Offer and Circular**"); (b) the letter of transmittal that accompanied the Original Offer and Circular (the "**Letter of Transmittal**"); and (c) the notice of guaranteed delivery that accompanied the Original Offer and Circular (the "**Notice of Guaranteed Delivery**", and collectively with the Original Offer and Circular and the Letter of Transmittal, the "**Original Offer Documents**"). To the extent specifically set out in this document, each of the Original Offer Documents is deemed to be amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, the Third Notice of Variation, Change and Extension, and this Notice of Variation, Change and Extension (collectively, the "**Notices**") to give effect to the amendments to the Original Offer and Circular described therein and herein. Unless the context otherwise requires, references in this document to the "**Offer**", the "**Circular**" and the "**Offer and Circular**" mean the Original Offer, the Original Circular and the Original Offer and Circular, respectively, each as amended and varied by the Notices. Unless the context requires otherwise, terms used herein but not defined herein have the respective meanings set out in the Original Offer and Circular.

**Holders of Shares ("Shareholders") who have validly deposited and not withdrawn their Shares are not required to take any further action to accept the Offer**. Registered Shareholders (meaning Shareholders that have a physical share certificate representing their Shares or a DRS Advice or a similar document evidencing the electronic registration of ownership of their Shares) who have not yet deposited their Shares under the Offer and who wish to accept the Offer must properly complete and execute a Letter of Transmittal (printed on YELLOW paper) and deposit it, at or prior to the Expiry Time, together with, if applicable, the certificate(s) representing their Shares and all other required documents, with Computershare Investor Services Inc. (the "**Depositary**") at its office at one of the addresses specified in the Letter of Transmittal, in accordance with the instructions in the Letter of Transmittal. Alternatively, Shareholders may accept the Offer by following the procedures for: (i) guaranteed delivery set out in Section 3 of the Offer, "Manner of Acceptance – Procedure for Guaranteed Delivery", using the accompanying Notice of Guaranteed Delivery (printed on BLUE paper), or a manually executed facsimile thereof; or (ii) book-entry transfer of Shares set out in Section 3 of the Offer, "Manner of Acceptance – Acceptance by Book-Entry Transfer".

Registered Shareholders will not be required to pay any fee or commission if they accept the Offer by tendering their Shares directly with the Depositary. A broker, nominee or other intermediary through whom a Shareholder holds Shares may charge a fee to tender any such Shares on behalf of such Shareholder. Shareholders should consult such broker, nominee or other intermediary to determine whether any charges will apply.

**Non-registered Shareholders whose Shares are held on their behalf, or for their account, by a broker, investment dealer, bank, trust company or other intermediary, should contact such intermediary directly if they wish to accept the Offer. Intermediaries may establish tendering cut-off times that are up to 48 hours prior to the Expiry Time. As a result, non-registered Shareholders wishing to tender their Shares should promptly and carefully follow the instructions provided to them by their broker, investment dealer, bank, trust company or other intermediary.**

Questions and requests for assistance may be directed to Laurel Hill Advisory Group ("**Laurel Hill**"), the information agent in connection with the Offer (the "**Information Agent**"). Shareholders may contact Laurel Hill by telephone at 1-877-452-7184, (1-416-304-0211 for collect calls outside North America), by texting "INFO" to either number, or by email at assistance@laurelhill.com.

(ii) Additional copies of the Original Offer and Circular, the Notices and related materials may be obtained without charge on request from the Information Agent in the manner specified on the back page of this document or by using the contact information of any additional dealer managers which may be provided subsequent to the date of the Offer and Circular, and are available on SEDAR+ at www.sedarplus.com, and on the Offeror's website at www.canexmetals.ca. Website addresses are provided for informational purposes only and no information contained on, or accessible from such websites is incorporated by reference in the Offer and Circular unless expressly incorporated by reference.

No Person has been authorized to give any information or make any representation other than those contained in this document, and, if given or made, that information or representation must not be relied upon as having been authorized by the Offeror.

**The Information Agent for the Offer is:**

**LAUREL HILL ADVISORY GROUP**

![](logo-02.jpg)

**North America Toll Free: 1-877-452-7184**

**Outside North America: 1-416-304-0211**

**Text Message: Text "INFO" to 416-304-0211 or 1-877-452-7184**

**Email: assistance@laurelhill.com**

(iii) **NOTICE TO SHAREHOLDERS IN THE UNITED STATES AND OTHER SHAREHOLDERS OUTSIDE CANADA**

The Offer is being made for the securities of a Canadian company that does not have securities registered under section 12 of the United States *Securities Exchange Act of 1934*, as amended (the "**U.S. Exchange Act**"). Accordingly, the Offer is not subject to section 14(d) of the U.S. Exchange Act or Regulation 14D thereunder. In reliance on the cross-border exemption provided by rule 14d-1(c) (the "**Tier 1 Exemption**"), the Offer is exempt from Rules 14e-1 and 14e-2 of Regulation 14E. The Offer is made in the United States with respect to securities of a "foreign private issuer", as such term is defined in Rule 3b-4 under the U.S. Exchange Act, in accordance with Canadian corporate and Securities Laws requirements. Shareholders in the United States should be aware that such requirements are different from those of the United States applicable to tender offers under the U.S. Exchange Act and the rules and regulations promulgated thereunder.

Because the consideration consists solely of Offeror Common Shares and, to the Offeror's knowledge, U.S. holders hold 10% or less of the outstanding Shares, the Offer is being made in reliance on Rule 802 under the United States *Securities Act of 1933*. The Offeror has furnished, or will furnish, the Offer and Circular, including this Notice of Variation, Change and Extension (and any amendments or supplements) to the SEC on Form CB and has filed, or will file, a Form F-X appointing an agent for service of process in the United States. The Offer and Circular, including the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension and this Notice of Variation, Change and Extension, is being provided to U.S. holders in English on a comparable basis to Canadian holders. If dissemination is by publication in Canada, the Offeror will concurrently publish in the United States in a manner reasonably calculated to inform U.S. holders.

The Offer is being made for the securities of a Canadian company by a Canadian company. The Offer is subject to disclosure requirements of a foreign country that are different from those of the United States. Financial statements included in this document, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies. It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since the Offeror and the Company are located in a foreign country, and some or all of their 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 may be difficult to compel the Offeror or the Company and their affiliates to subject themselves to a U.S. court's judgement. You should be aware that the Offeror may purchase securities otherwise than under the Offer, such as in open market or privately negotiated purchases, in accordance with applicable law.

In accordance with Canadian law and in reliance on Rule 14e-5(b)(10) under the U.S. Exchange Act, the Offeror and its affiliates may, from time to time during the pendency of the Offer, purchase or arrange to purchase Shares (or related securities) outside the Offer, provided that no such purchases will be made in the United States or by use of U.S. jurisdictional means. Any information about such purchases that is made public in Canada will also be made publicly available in the United States on a comparable basis, including by press release and by furnishing a Form CB to the SEC.

**Shareholders in the United States should be aware that the disposition of their Shares (or the exercise, exchange or redemption of the Convertible Securities) and the acquisition of Offeror Common Shares by them as described herein may have tax consequences both in the United States and in Canada. Such consequences for Shareholders who are resident in, or citizens of, the United States may not be described fully herein and such Shareholders are encouraged to consult their tax advisors. See Section 18 of the Original Circular, "Certain Canadian Federal Income Tax Considerations", and Section 19 of the Original Circular, "Certain United States Federal Income Tax Considerations".**

The enforcement by Shareholders of civil liabilities under U.S. federal securities Laws may be affected adversely by the fact that each of the Offeror and the Company is incorporated under the Laws of Canada, that some or all of their respective officers and directors may be residents of a foreign country, that some or all of the experts named herein may be residents of a foreign country and that all or a substantial portion of the assets of the Offeror and the Company and said Persons may be located outside the United States.

(iv) **THE OFFEROR COMMON SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY U.S. STATE SECURITIES COMMISSION NOR HAS THE SEC OR ANY U.S. STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.**

Shareholders should be aware that, during the period of the Offer, the Offeror or its affiliates, directly or indirectly, may bid for or make purchases of Offeror Common Shares or Shares, or certain related securities, as permitted by applicable Laws or regulations of the United States, Canada or its provinces or territories.

**NOTICE TO HOLDERS OF CONVERTIBLE SECURITIES**

The Offer is being made only for Shares and is not being made for any Convertible Securities (including Options) or other rights to acquire Shares. Holders of Convertible Securities who wish to accept the Offer with respect to the underlying Shares should, to the extent permitted by the terms of the Convertible Securities, applicable Laws and the Cease Trade Order, exercise the rights under such Convertible Securities to acquire Shares and tender the underlying Shares in accordance with the terms of the Offer. Any such exercise must be completed sufficiently in advance of the Expiry Time to ensure that Shares will be available for tender at or prior to the Expiry Time or in sufficient time to comply with the procedures described in Section 3 of the Offer, "Manner of Acceptance", and Section 6 of the Original Circular, "Treatment of Convertible Securities". The Partial Revocation Order does not provide for the acquisition of Shares upon the exercise of conversion rights under Convertible Securities.

The tax consequences to holders of Convertible Securities of exercising, exchanging or converting such securities are not described in either Section 18 of the Original Circular, "Certain Canadian Federal Income Tax Considerations" or in Section 19 of the Original Circular, "Certain United States Federal Income Tax Considerations". Holders of Convertible Securities should consult their tax advisors for advice with respect to potential income tax consequences to them in connection with the decision as to whether to exercise, exchange or convert their Convertible Securities.

(v) **<u>**TABLE OF CONTENTS**</u>**

---

| | | |
|:---|:---|:---|
| NOTICE TO SHAREHOLDERS IN THE UNITED STATES AND OTHER SHAREHOLDERS OUTSIDE CANADA | NOTICE TO SHAREHOLDERS IN THE UNITED STATES AND OTHER SHAREHOLDERS OUTSIDE CANADA | iv |
| NOTICE TO HOLDERS OF CONVERTIBLE SECURITIES | NOTICE TO HOLDERS OF CONVERTIBLE SECURITIES | v |
| REPORTING CURRENCY | REPORTING CURRENCY | 1 |
| RISK FACTORS | RISK FACTORS | 1 |
| INFORMATION CONTAINED IN THIS NOTICE OF VARIATION, CHANGE AND EXTENSION | INFORMATION CONTAINED IN THIS NOTICE OF VARIATION, CHANGE AND EXTENSION | 1 |
| INFORMATION CONCERNING THE COMPANY | INFORMATION CONCERNING THE COMPANY | 1 |
| AVAILABILITY OF DISCLOSURE DOCUMENTS | AVAILABILITY OF DISCLOSURE DOCUMENTS | 2 |
| CAUTIONARY NOTE REGARDING MINERAL RESERVES AND MINERAL RESOURCES | CAUTIONARY NOTE REGARDING MINERAL RESERVES AND MINERAL RESOURCES | 2 |
| FORWARD-LOOKING STATEMENTS | FORWARD-LOOKING STATEMENTS | 2 |
| NOTICE OF VARIATION, CHANGE AND EXTENSION | NOTICE OF VARIATION, CHANGE AND EXTENSION | 5 |
| 1. | Satisfaction of Conditions and Take-Up of Deposited Shares | 5 |
| 2. | Extension of the Offer | 5 |
| 3. | Reasons to Accept the Offer | 5 |
| 4. | Partial Revocation Order | 7 |
| 5. | Updated Information Concerning the Offeror Common Shares | 8 |
| 6. | Manner of Acceptance | 8 |
| 7. | Take-Up of and Payment for Deposited Shares | 8 |
| 8. | Right to Withdraw Deposited Shares | 9 |
| 9. | Amendments and Variations to Original Offer Documents | 9 |
| 10. | Offerees' Statutory Rights | 9 |
| 11. | Directors' Approval | 9 |
| CERTIFICATE OF CANEX METALS INC. | CERTIFICATE OF CANEX METALS INC. | C-1 |

---

**REPORTING CURRENCY**

All references to "**$**" or "**C$**" in this Notice of Variation, Change and Extension mean Canadian dollars, all references to "**US$**" in this Notice of Variation, Change and Extension mean United States dollars, except where otherwise indicated, and all references to "**A$**" in this Notice of Variation, Change and Extension mean Australian dollars, except where otherwise indicated.

**RISK FACTORS**

The acceptance of the Offer and an investment in the Offeror Common Shares offered pursuant to the Offer are subject to certain risks. In assessing the Offer, Shareholders should carefully consider the risks described in the Original Offer and Circular and in the Second Notice of Variation, Change and Extension. Such risks may not be the only risks applicable to the Offer or the Offeror. Additional risks and uncertainties not presently known by the Offeror or that the Offeror currently believes are not material may also materially and adversely impact the successful completion of the Offer or the business, operations, financial condition, financial performance, cash flows, reputation or prospects of the Offeror. See Section 22 of the Original Circular, "Risk Factors", and Section 1 of the Second Notice of Variation, Change and Extension, "Waiver of Minimum Tender Condition".

**INFORMATION CONTAINED IN THIS NOTICE OF VARIATION, CHANGE AND EXTENSION**

Certain information contained in this Notice of Variation, Change and Extension has been taken from or is based on documents that are expressly referred to herein. All summaries of, and references to, documents that are specified in this Notice of Variation, Change and Extension as having been filed, or that are contained in documents specified as having been filed, on SEDAR+, are qualified in their entirety by reference to the complete text of those documents as filed, or as contained in documents filed, under the Offeror's profile at www.sedarplus.com and on the Offeror's website at www.canexmetals.ca. Shareholders are urged to carefully read the full text of those documents, which may also be obtained on request without charge from the Corporate Secretary of the Offeror at Suite 1620, 734 – 7th Avenue SW, Calgary, Alberta T2P 3P8, Canada.

This Notice of Variation, Change and Extension does not generally address the income tax consequences of the Offer to Shareholders in any jurisdiction outside Canada or the United States. Shareholders in a jurisdiction outside Canada or the United States should be aware that the disposition of the Shares may have tax consequences which may not be described in the Original Circular. Accordingly, Shareholders outside Canada and the United States should consult their own tax advisors with respect to tax considerations applicable to them.

Certain figures herein may not add due to rounding.

Information contained in this document is given as of January 29, 2026, unless otherwise specifically stated.

**INFORMATION CONCERNING THE COMPANY**

As of the date of this Notice of Variation, Change and Extension, the Offeror has not had access to the non-public books and records of the Company and the Offeror is not in a position to independently assess or verify certain of the information in the Company's publicly filed documents, including its financial statements and reserves disclosures. The Company has not reviewed the Offer and Circular and has not confirmed the accuracy and completeness of the information in respect of the Company contained in the Offer and Circular. As a result, except as otherwise expressly indicated herein, the information concerning the Company contained in the Offer and Circular has been derived, by necessity, from the Company's public reports and securities filings as of January 29, 2026, and the Offeror does not assume any responsibility for the accuracy or completeness of any such information. See Section 22 of the Original Circular, "Risk Factors – Risk Factors Related to the Offer and the Offeror – The Offeror has been unable to independently verify the accuracy and completeness of the Company information in the Offer and Circular". None of the Company's public reports or securities filings are or have been incorporated by reference into the Offer and Circular.

In addition, the Company has not filed continuous disclosure documents publicly since December 2, 2024, including its annual audited financial statements and annual management's discussion and analysis for the year ended December 31, 2024, its certifications of annual filings for the year ended December 31, 2024, its unaudited interim financial statements and interim management's discussion and analysis for the periods ended March 31, 2025, June 30, 2025, and September 30, 2025, its certifications of interim filings for the periods ended March 31, 2025, June 30, 2025 and September 30, 2025, and its notice, information circular and proxy materials for its 2025 annual general meeting. Accordingly, information in the Company's publicly filed documents may be out of date, inaccurate or incomplete and may not be reflective of the current condition, including financial condition, of the Company. See Section 25 of the Original Circular, "Cease Trade Order and Partial Revocation Order".

**AVAILABILITY OF DISCLOSURE DOCUMENTS**

The Offeror is a reporting issuer in British Columbia, Alberta, Ontario and Quebec and files its continuous disclosure documents with the applicable Securities Regulatory Authorities. Such documents are available under the Offeror's profile at www.sedarplus.com or on the Offeror's website at www.canexmetals.ca.

**CAUTIONARY NOTE REGARDING MINERAL RESERVES AND MINERAL RESOURCES**

The Offeror is subject to the reporting requirements of applicable Securities Laws. Unless otherwise indicated, all historical estimate disclosure relating to the Offeror's projects in the Offer and Circular have been prepared in accordance with the requirements of Canadian Securities Laws.

**FORWARD-LOOKING STATEMENTS**

Certain statements contained in this Notice of Variation, Change and Extension, or incorporated by reference in the Offer and Circular constitute "forward-looking statements" and "forward- looking information" as defined under Securities Laws (collectively "**forward-looking statements**"). Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "budget", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "objective", "aim", "potential", "target" and similar words suggesting future events or future performance. Forward-looking statements and forward-looking information are not based on historical facts, but rather on current expectations and projections about future events and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements and forward-looking information.

This Notice of Variation, Change and Extension contains forward-looking statements including: those relating to the Louise Project, including statements with respect to the drill permit application, the timing of receiving the permit decision, and the Offeror's plan to drill test the targets; and those relating to the Offer, including statements with respect to the anticipated timing, mechanics, completion and settlement of the Offer; the ability of the Offeror to complete the transactions contemplated by the Offer, including the termination of the Helix Farm-In Agreement; the reasons to participate in the Offer; whether Gold Basin will regain regulatory compliance; the purpose of the Offer; any commitment to acquire Shares; the value of the Offeror Common Shares received as consideration under the Offer; the Offeror's objectives, strategies, intentions, expectations and guidance and future financial and operating performance and prospects; information concerning the Company and the Offeror (and their respective affiliates), including the revocation of the Cease Trade Order; the Offeror's plans for the Company in the event the Offer is successful and the integration of the Offeror's and the Company's businesses and operations; the anticipated effect of the Offer and the expected benefits of tendering Shares to the Offer, both to the Offeror and to the Shareholders, such as the consolidation of a gold district in Mojave County, Arizona and other synergies that may result from the proposed combination between the Offeror and the Company; the satisfaction of the conditions to consummate the Offer and other statements that are not historical facts. It is important to know that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· unless otherwise indicated, forward-looking statements in this Notice of Variation, Change and Extension
describe the Offeror's expectations as at the date on which such statements are made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Offeror's actual results and events could differ materially from those expressed or implied
in the forward-looking statements in this Notice of Variation, Change and Extension if known or unknown risks affect its business or the
Offer, or if its estimates or assumptions turn out to be inaccurate. As a result, the Offeror cannot guarantee that the results or events
expressed or implied in any forward-looking statement will materialize, and accordingly, you are cautioned against relying on these forward-looking
statements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the Offeror disclaims any intention and assumes no obligation to update
or revise any forward-looking statement or information herein even if new information becomes available, as a result of future events
or for any other reason, except in accordance with applicable Securities Laws.

With respect to forward-looking statements contained in this Notice of Variation, Change and Extension, the Offeror has made assumptions regarding, among other things: integrate the Offeror's and the Company's businesses and operations and realize financial, operational and other synergies from the Offer and a Compulsory Acquisition or Subsequent Acquisition Transaction; that each of the Offeror, the Company and, following the Offer and a Compulsory Acquisition or Subsequent Acquisition Transaction, the Offeror will have the ability to continue as a going concern and realize its assets and discharge its liabilities in the normal course of business; that the Helix Farm-In Agreement will be terminated; the Offeror's ability to execute on its plans as described herein and in its other disclosure documents and the impact that the successful execution of such plans will have on the Offeror and, following the combination, the combined entity and the combined entities' respective stakeholders; that the Company's publicly available information, including its public reports and securities filings as of January 29, 2026 remain accurate in all material respects; that the current commodity price and foreign exchange environment will continue or improve; future exchange rates and interest rates; future debt levels; the value inherent in Gold Basin's portfolio of projects, including the Gold Basin Project; the Offeror will receive the Regulatory Approvals and all other necessary consents on the timelines and in the manner currently anticipated; the advice received from professional advisors is accurate; there will be no material changes to government and environmental regulations adversely affecting the Offeror's operations, other than as discussed in this section; and the impact of the current economic climate and financial, political and industry conditions on the Offeror's operations, including its financial condition and asset value, will remain consistent with the Offeror's current expectations as set out in this section.

All figures and descriptions provided in this Notice of Variation, Change and Extension related to the proposed transaction, including those around consideration, key metrics, reasons for the Offer, and the potential benefits to the Shareholders and the Offeror Shareholders (including increased shareholder returns and improved performance and administration savings), are based on and assume the following: (a) the Offeror's and the Company's liquidity, debt, debt costs and assets (including reserves), will not change from what was the case on January 29, 2026, in the case of the Offeror, and from what the Offeror has ascertained from the Company's public filings on SEDAR+ up to and including October 20, 2025 and from the Company's disclosures on its website at www.goldbasincorp.com up to and including January 8, 2026, in the case of the Company; (b) 135,130,486 Shares are issued and outstanding immediately prior to the date of the Offer (according to the latest information available on the website of the TSXV); (c) that all of the Shares are tendered to the Offer pursuant to the terms thereof; and (d) no other Shares or Offeror Common Shares are issued before the successful completion of the Offer.

Although the Offeror believes that the expectations reflected in the forward-looking statements contained in this Notice of Variation, Change and Extension, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements may include the following: the market value of the Offeror Common Shares received as consideration under the Offer and the impact of the issuance of Offeror Common Shares on the market price of the Offeror Common Shares; the inaccuracy of the Company's public disclosure upon which the Offer is predicated; the failure to obtain the Regulatory Approvals and to satisfy the other conditions to the Offer on a timely basis; competitive responses to the announcement or completion of the Offer; as well as the risks discussed in Section 22 of the Original Circular, "Risk Factors" and in Section 1 of the Second Notice of Variation, Change and Extension, "Waiver of Minimum Tender Condition". Should one or more risk, uncertainty, contingency or other factor materialize or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking statements. Accordingly, you should not place undue reliance on forward-looking statements. The Offeror does not assume any obligation to update or revise any forward-looking statements after the date of this Notice of Variation, Change and Extension or to explain any material difference between subsequent actual events and any forward-looking statements, except as required by applicable Securities Laws. Readers are cautioned that such assumptions, risks and uncertainties should not be construed as exhaustive.

The forward-looking statements contained in this Notice of Variation, Change and Extension speak only as of the date of this Notice of Variation, Change and Extension. Except as expressly required by applicable Securities Laws, we do not undertake any obligation to publicly update any forward-looking statements. The forward-looking statements contained in this Notice of Variation, Change and Extension are expressly qualified by this cautionary statement.

For a further discussion regarding the risks related to the Offer and the Offeror, see Section 22 of the Original Circular, "Risk Factors" and Section 1 of the Second Notice of Variation, Change and Extension, "Waiver of Minimum Tender Condition", and the Offeror's other public filings, available in Canada on SEDAR+ at www.sedarplus.com, and on the Offeror's website at www.canexmetals.ca.

**NOTICE OF VARIATION, CHANGE AND EXTENSION**

January 30, 2026

**TO: THE HOLDERS OF COMMON SHARES OF GOLD BASIN RESOURCES CORPORATION**

This Notice of Variation, Change and Extension amends, varies and supplements the information provided in the Original Offer and Circular, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension, pursuant to which the Offeror is offering to purchase, on the terms and subject to the conditions of the Offer, all of the issued and outstanding Shares (including any Shares which may become issued and outstanding after the date of the Original Offer and prior to the Expiry Time).

As set out in this Notice of Variation, Change and Extension, the Offeror has (a) extended the Expiry Time of the Offer to 5:00 p.m. (Toronto Time) on February 10, 2026; and (b) provided additional disclosure, including, but not limited to, (i) the satisfaction or waiver all of the conditions to Offer, including the Statutory Minimum Condition, as of 5:00 p.m. (Toronto time) on January 29, 2026 (being the expiry time of the initial deposit period), (ii) the direction to the Depositary to take up and pay for all Shares that were validly deposited and not withdrawn under the Offer as of the expiry time of the initial deposit period, and (iii) the variation of the Partial Revocation Order to extend the expiry date of the Partial Revocation Order. Consequential amendments in accordance with this Notice of Variation, Change and Extension are deemed to be made, where required, to the Original Offer Documents, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension. Except as otherwise set out in this Notice of Variation, Change and Extension, the terms and conditions set out in the Original Offer Documents, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension, continue to remain in effect, unamended. This Notice of Variation, Change and Extension should be read in conjunction with the Original Offer Documents, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension.

1. Satisfaction of Conditions and Take-Up of Deposited Shares

By written notice to the Depositary dated January 29, 2026, the Offeror (a) irrevocably waived (prior to the expiry of the initial deposit period) all remaining unsatisfied conditions set out in Section 4 of the Original Offer, "Conditions of the Offer"; (b) confirmed that all of the conditions set forth in Section 4 of the Original Offer, "Conditions of the Offer", including the Statutory Minimum Condition, have been satisfied or waived as of 5:00 p.m. (Toronto time) on January 29, 2026 (being the expiry time of the initial deposit period), and (c) directed the Depositary to take up all Shares that were validly deposited and not withdrawn under the Offer. See Section 7 of this Notice of Variation, Change and Extension, "Take Up and Payment for Deposited Shares".

2. Extension of the Offer

The Offeror has extended the Expiry Time of the Offer from 5:00 p.m. (Toronto Time) on January 29, 2026 to 5:00 p.m. (Toronto Time) on February 10, 2026. Accordingly, the definition of "Expiry Time" in the Original Offer and Circular, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension, is deleted in its entirety and replaced with the following definition: "**Expiry Time**" means 5:00 p.m. (Toronto Time) on February 10, 2026, or such earlier or later time or times and date or dates as may be fixed by the Offeror from time to time pursuant to Section 5 of the Original Offer, "Extension, Acceleration and Variation of the Offer", unless the Offer is withdrawn by the Offeror.

3. Reasons to Accept the Offer

The Offeror continues to believe that the Offer provides a number of compelling benefits for Shareholders that Gold Basin cannot achieve on a standalone basis, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***The Offeror will be the controlling shareholder of the Company.*** By written notice to the
Depositary dated January 29, 2026, the Offeror directed the Depositary to take up a total of all Shares that were validly deposited and
not withdrawn under the Offer. Following the take-up, the Offeror will be the controlling shareholder of the Company, and will proceed
with the steps required to gain Company Board control, address and rectify regulatory deficiencies of the Company, and mitigate other
risk and prejudice to the Shareholders' investment caused by the current Company Board and management team's course of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Significant Upfront Premium to Shareholders.*** The Offer represents
a 313.9% premium to the 30-day volume weighted average price of the Shares prior to the Cease Trade Order, based on the 30-day volume
weighted average price of the Offeror Common Shares as of January 29 , 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Consolidation of Gold Districts and Near-Term Exploration and Expansion.*** The Offer consolidates
an advanced oxide gold exploration camp in Mojave County, Arizona hosting multiple zones of gold mineralization with strong drill results
across an eight kilometre by eight kilometre area, opening up potential near-term exploration on favourable targets, which are fully permitted
for near-term drill testing and expansion.

**MAP:** Mineral land positions of CANEX's Gold Range Project (Red) and Gold Basin's Gold Basin Project (Blue) are adjacent.

![](map-01.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Diversification.*** The Offer will provide Shareholders not only with exposure to a consolidated
gold district in Mojave County, Arizona, but also to the Offeror's Louise Project in British Columbia. On July 31, 2025, the Offeror
announced results from an induced polarization (IP) geophysical survey which identified a new and previously unknown chargeability target
two kilometres west of the historic Louise deposit and a steeply dipping zone of high chargeability below and to the north of the historic
Louise deposit. A drill permit application for the Louise Project was submitted in late 2025 and a permit decision is anticipated in the
first quarter of 2026. If granted, the permit would allow the Offeror to drill test new exploration targets at the Louise Project and
expand geophysical surveying across the entire known trend. The Offeror intends to drill test the new targets during 2026 pending receipt
of the required exploration permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Liquidity.*** The Offer will provide Shareholders with a more liquid investment. The TSXV has
conditionally approved the listing of the Offeror Common Shares offered to Shareholders pursuant to the Offer on the TSXV. Listing will
be subject to the Offeror fulfilling all of the applicable listing requirements of the TSXV. By contrast, trading in the Shares is restricted.
On May 6, 2025, the Commission imposed the Cease Trade Order against the Shares. The next day, CIRO imposed the Halt in trading of the
Shares on the TSXV. Gold Basin disclosed on January 8, 2026 that it was working to ensure that trading would resume as soon as practicable;
however, it has yet to provide its Shareholders with any estimate of when a revocation of the Cease Trade Order and the Halt can be expected.
Further, the Partial Revocation Order will expire on March 31, 2026, and Gold Basin faces potential dissolution by failing to file of
its 2024 Annual Report by January 24, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Access to the Offeror's Stable Balance Sheet.*** With no
debt and access to capital, Shareholders have an opportunity through the Offer to move from a highly precarious financial situation to
the stable and managed underpinnings of the Offeror's prudent financial management. The Offeror's financing of $3,000,000
completed in December 2025, led by a strategic investment from Mr. N. Eric Fier, highlights the Offeror's access to capital and
ability to fund exploration and development of a consolidated oxide gold district in Northern Arizona.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Offeror's Highly Focused, Professional and Cost-Effective Management Team*.** The Offeror
has six years experience working in the Arizona district and has developed a geologic understanding and exploration model that can help
fast track new discovery and deposit expansion and unlock value across the combined district. The Offer places the consolidated district
under the Offeror's highly focused, professional and cost-effective management team, which will provide superior operational and
governance oversight.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Improved Governance Profile.*** Contrasted with the Company's serial non-compliance with
securities laws and basic corporate governance, the Offeror held its annual general meeting on October 30, 2025 with a full endorsement
of all items of business by Institutional Shareholder Services, the leading independent proxy advisor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·  ***Final Extension.*** The Offeror does not intend to further extend the Offer beyond the Expiry
Time, meaning this is the final opportunity for Shareholders to take advantage of the Offer and realize near term value and liquidity
for their Shares.

The Offer represents an opportunity for Shareholders to embrace a combined entity with more focused management, greater financial strength, a well-positioned portfolio of mineral projects and far superior governance and regulatory compliance.

4. Partial Revocation Order

The disclosure contained in Section 25 of the Original Circular, "Cease Trade Order and Partial Revocation Order", is hereby updated to provide the following additional information:

On January 28, 2026, a variation order was issued by the Commission, varying the Partial Revocation Order such that the Partial Revocation Order will expire on March 31, 2026; provided, however, that if more than 50% of the Shares have been tendered to the Offer and taken up and paid for by the Offeror on or prior to March 31, 2026, the Partial Revocation Order will expire on June 30, 2026 in respect of a Compulsory Acquisition or Second Step Transaction undertaken by the Offeror to facilitate the acquisition by the Offeror of 100% of the issued and outstanding Shares.

5. Updated Information Concerning the Offeror Common Shares

***Price Range and Trading Volume***

The disclosure contained in Section 9 of the Original Circular, "Certain Information Concerning the Offeror Common Shares – Price Range and Trading Volume", in Section 4 of the First Notice of Variation, Change and Extension, "Updated Information Concerning the Offeror Common Shares – Price Range and Trading Volume", in Section 6 of the Second Notice of Variation, Change and Extension, "Updated Information Concerning the Offeror Common Shares – Price Range and Trading Volume", and in Section 4 of the Third Notice of Variation, Change and Extension, "Updated Information Concerning the Offeror Common Shares – Price Range and Trading Volume", is hereby updated to provide the following additional information:

The following table sets forth, for the period indicated, the high and low trading prices (based on intra-day prices) in Canadian dollars and trading volumes of the Offeror Common Shares on the TSXV:

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| | | | |
|:---|:---|:---|:---|
| | **Price Range** | **Price Range** | **Price Range** |
| <br>**Period** | **High (C$)** | **Low (C$)** | **Volume** |
| January 1 – 29, 2026 | 0.330 | 0.215 | 4506006 |

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The following table sets forth, for the period indicated, the high and low trading prices (based on intra-day prices) in U.S. dollars and trading volumes of the Offeror Common Shares on the OTC Market:

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| | | | |
|:---|:---|:---|:---|
| | **Price Range** | **Price Range** | **Price Range** |
| <br>**Period** | **High (US$)** | **Low (US$)** | **Volume** |
| January 1 – 29, 2026 | 0.350 | 0.164 | 451249 |

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6. Manner of Acceptance

Shares may be deposited under the Offer in accordance with the provisions under Section 3 of the Original Offer, "Manner of Acceptance".

7. Take-Up of and Payment for Deposited Shares

As of 5:00 p.m. (Toronto time) on January 29, 2026, a total of 68,994,029 Shares, representing approximately 51.06% of the issued and outstanding Shares, were validly deposited and not withdrawn under the Offer. By written notice to the Depositary dated January 29, 2026, the Offeror (a) prior to the expiry of the initial deposit period, confirmed that all of the conditions set forth in Section 4 of the Original Offer, "Conditions of the Offer", including the Statutory Minimum Condition, have been satisfied or waived as of 5:00 p.m. (Toronto time) on January 29, 2026 (being the expiry time of the initial deposit period), and (b) directed the Depositary to take up all Shares that were validly deposited and not withdrawn under the Offer as of the expiry time of the initial deposit period. The Offeror has directed the Depositary to pay for the Shares taken up under the Offer as soon as possible and, in any event, not later than three business days following the date of take-up.

The Depositary will act as the agent of the Persons who have tendered Shares in acceptance of the Offer for the purposes of receiving payment under the Offer and transmitting that payment to such Persons, and receipt of payment by the Depositary will be deemed to constitute receipt of payment by those Persons who have properly deposited Shares pursuant to the Offer.

The Offeror will take up and pay for Shares deposited under the Offer during the Mandatory Extension Period and any additional extension period, if applicable, not later than 10 days after such deposit. See Section 6 of the Original Offer, "Take Up and Payment for Deposited Shares".

8. Right to Withdraw Deposited Shares

Shareholders have the right to withdraw Shares deposited pursuant to the Offer under the circumstances and in the manner described under Section 8 of the Original Offer, "Right to Withdraw Deposited Shares".

9. Amendments and Variations to Original Offer Documents

The Original Offer Documents, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, and the Third Notice of Variation, Change and Extension, shall be read together with this Notice of Variation, Change and Extension in order to give effect to the amendments and variations set forth herein.

10. Offerees' Statutory Rights

Securities legislation of the provinces and territories of Canada provides Shareholders with, in addition to any other rights they may have at law, one or more rights of rescission, price revision or to damages if there is a misrepresentation in a circular or notice that is required to be delivered to Shareholders. However, such rights must be exercised within prescribed time limits. Shareholders should refer to the applicable provisions of the securities legislation of their province or territory for particulars of those rights or consult a lawyer.

11. Directors' Approval

The contents of the Notice of Variation, Change and Extension have been approved, and the sending of this Notice of Variation, Change and Extension to the Shareholders has been authorized by the Offeror Board.

**CERTIFICATE OF CANEX METALS INC.**

Dated: January 30, 2026

The Original Offer and Circular, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, the Third Notice of Variation, Change and Extension and this Notice of Variation, Change and Extension, contains no untrue statement of a material fact and does not omit to state a material fact that is required to be stated or that is necessary to make a statement not misleading in the light of the circumstances in which it was made.

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| | |
|:---|:---|
| &nbsp;&nbsp;(Signed) "Shane W. Ebert" | &nbsp;&nbsp;(Signed) "Chantelle Collins" |
| &nbsp;&nbsp; Shane W. Ebert<br> President and Chief Executive Officer<br>| &nbsp;&nbsp; Chantelle Collins<br> Chief Financial Officer<br>|
| &nbsp;&nbsp; <br>**On behalf of the Board of Directors of CANEX Metals Inc.** | &nbsp;&nbsp; <br>**On behalf of the Board of Directors of CANEX Metals Inc.** |
| &nbsp;&nbsp;(Signed) "Jean Pierre Jutras" | &nbsp;&nbsp;(Signed) "Blair Schultz" |
| &nbsp;&nbsp; Jean Pierre Jutras<br> Director<br>| &nbsp;&nbsp; Blair Schultz<br> Director<br>|

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## Exhibit 99.3

**Exhibit 99.3**

*This announcement is neither an offer to purchase nor a solicitation of an offer to sell any securities of Gold Basin Resources Corporation and is neither an offer to sell nor a solicitation of an offer to purchase any securities of CANEX Metals Inc. The Offer (as defined below) is being made solely by the Offer and Circular (as defined below) and any amendments, supplements or modifications thereto, and is being made to all holders of Shares (as defined below). The Offer is not being made to, nor will deposits be accepted from or on behalf of, Shareholders (as defined below) in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of such jurisdiction. However, the Offeror (as defined below) may, in its sole discretion, take such action as it may deem necessary to extend the Offer to Shareholders in any such jurisdiction.*

 

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| | |
|:---|:---|
| &nbsp;&nbsp;![](logo-03.jpg) | &nbsp;&nbsp; <br> **NOTICE OF VARIATION, CHANGE AND**<br> **EXTENSION OF OFFER TO PURCHASE**<br> **all of the issued and outstanding common shares of**<br> **GOLD BASIN RESOURCES CORPORATION**<br> **on the basis of 0.592 of a common share of CANEX Metals Inc.<br> for each common share of Gold Basin Resources Corporation** |

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CANEX Metals Inc. ("**CANEX**" or the "**Offeror**") hereby gives notice that it is varying certain terms and conditions of its offer dated August 28, 2025 (the "**Original Offer**") as amended by the Notice of Variation, Change and Extension dated December 12, 2025 (the "**First Notice of Variation, Change and Extension**"), the Notice of Variation, Change and Extension dated January 9, 2026 (the "**Second Notice of Variation, Change and Extension**"), and the Notice of Variation, Change and Extension dated January 19, 2026 (the "**Third Notice of Variation, Change and Extension**"), to purchase, on the terms and subject to the conditions of the Offer, all of the issued and outstanding common shares (the "**Shares**") in the capital of Gold Basin Resources Corporation (the "**Company**"), including any Shares that may become issued and outstanding after the date of the Original Offer but prior to the Expiry Time (as defined below), to: (a) extend the Expiry Time of the Offer to 5:00 p.m. (Toronto Time) on February 10, 2026; and (b) provide additional disclosure, including, but not limited to, (i) the satisfaction or waiver all of the conditions to Offer, including the Statutory Minimum Condition (as defined in the Offer and Circular), as of 5:00 p.m. (Toronto time) on January 29, 2026 (being the expiry time of the initial deposit period), (ii) the direction to the Depositary (as defined in the Offer and Circular) to take up and pay for the Shares that were validly deposited and not withdrawn under the Offer as of the expiry time of the initial deposit period, and (iii) the variation of the Partial Revocation Order (as defined in the Offer and Circular) to extend the expiry date of the Partial Revocation Order.

**The Offer has been extended and now remains open for acceptance until 5:00 p.m. (Toronto Time) on February 10, 2026 (the "Expiry Time"), unless the Offer is further extended, accelerated or withdrawn by the Offeror in accordance with its terms. This extension constitutes the "mandatory 10-day extension period" contemplated in the Offer Documents.**

References in this advertisement to the "**Offer**" shall refer to the Original Offer, as amended by the First Notice of Variation, Change and Extension, the Second Notice of Variation, Change and Extension, the Third Notice of Variation, Change and Extension, and a Notice of Variation, Change and Extension dated January 30, 2026 (collectively, the "**Notices**"), references to the "**Circular**" shall refer to the take-over bid circular dated August 28, 2025 (the "**Original Circular**"), as amended by the Notices, and references to the "**Offer Documents**" refers to the Original Offer and Circular, and the related Letter of Transmittal and Notice of Guaranteed Delivery, as amended by the Notices, copies of which have been or will be filed with the applicable Canadian securities regulatory authorities and available under the Company's profile on SEDAR+ at www.sedarplus.ca.

**The information contained in this advertisement is a summary only. The Offer is made solely by the Offer Documents (including the Notices), all of which are incorporated herein by reference. The Offer Documents (including the Notices) contain important information that shareholders of the Company ("Shareholders") are urged to read in their entirety before making any decision with respect to the Offer.**

The Offer is being made for the securities of a Canadian company that does not have securities registered under section 12 of the United States *Securities Exchange Act of 1934*, as amended (the "**U.S. Exchange Act**"). Accordingly, the Offer is not subject to section 14(d) of the U.S. Exchange Act and Regulation 14D thereunder, and is exempt from Rules 14e-1 and 14e-2 of Regulation 14E pursuant to the Tier I cross-border exemption in Rule 14d-1(c). The Offer is made in the United States with respect to securities of a "foreign private issuer", as such term is defined in Rule 3b-4 under the U.S. Exchange Act, in accordance with Canadian corporate and securities laws requirements. Shareholders in the United States should be aware that such requirements are different from those of the United States applicable to tender offers under the U.S. Exchange Act and the rules and regulations promulgated thereunder.

**Shareholders in the United States should be aware that the disposition of their Shares (or the exercise, exchange or redemption of the Convertible Securities (as defined in the Offer and Circular)) and the acquisition of Offeror Common Shares by them as described in the Offer and Circular may have tax consequences both in the United States and in Canada. Such consequences for Shareholders who are resident in, or citizens of, the United States may not be described fully in the Offer and Circular and such Shareholders are encouraged to consult their tax advisors. See Section 18 of the Original Circular, "Certain Canadian Federal Income Tax Considerations", and Section 19 of the Original Circular, "Certain United States Federal Income Tax Considerations".**

The Offeror has furnished, or will furnish, this advertisement and the Notice of Variation, Change and Extension dated January 30, 2026 in English to the U.S. Securities and Exchange Commission on Form CB and has filed or will file a Form F-X to appoint an agent for service of process in the United States.

**This Offer is made for the securities of a Canadian issuer and by a Canadian issuer. The Offer is subject to disclosure requirements of Canada that are different from those of the United States. Financial statements included in the document, if any, have been prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies.**

**It may be difficult for Shareholders in the United States to enforce their rights and any claim they may have arising under the federal securities laws, since the Offeror is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. Shareholders in the United States may not be able to sue the Offeror or the Company or their officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel the Offeror or the Company or their respective affiliates to subject themselves to a U.S. court's judgment.**

**You should be aware that the Offeror may purchase securities otherwise than under the Offer, such as in open market or privately negotiated purchases.**

**THE OFFEROR COMMON SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE "SEC") OR ANY U.S. STATE SECURITIES COMMISSION NOR HAS THE SEC OR ANY U.S. STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.**

**Copies of the Offer Documents can be obtained without charge from Laurel Hill Advisory Group, acting as the information agent for the Offer. Questions or requests for assistance may be directed to the information agent at the address and telephone number set out below.**

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|:---|:---|
| &nbsp;&nbsp;![](logo-04.jpg) | &nbsp;&nbsp; **Toll-Free Phone: 1-877-452-7184**<br> **Outside North America: +1 416-304-0211**<br> **Text Message: Text "INFO" to 416-304-0211 or 1-877-452-7184**<br> **Email: assistance@laurelhill.com** |

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January 30, 2026