Gold Basin Resources Evaluates Helix Joint Venture Amid Board Changes

On March 19, 2026, Gold Basin Resources Corporation responded to a recent announcement by Helix Resources Limited regarding a joint venture. Helix declared its formal agreement to earn a 40% stake in Gold Basin's 42 square kilometre project in Mohave County, Arizona. However, this declaration coincides with the complete replacement of Gold Basin's board, following shareholder votes during a court-mandated meeting on March 16, 2026.

The new leadership of Gold Basin opposes this joint venture due to a restraining order issued by the British Columbia Supreme Court on February 11, 2026. CANEX Metals Inc., the controlling shareholder, plans to pursue contempt orders against former directors. The new board intends to support existing shareholders' petition to annul the venture with Helix, claiming unfairness and undisclosed interests that may have compromised the deal.

Gold Basin is determined to protect its interests and possibly reclaim losses from the former directors. The transition aims to address existing issues and enhance stakeholder value. Shane Ebert, CEO, emphasizes the board's experience and its commitment to rectifying past management decisions.