Basin Uranium Announces Filing of Technical Report Including Maiden Resource Estimate for Chord

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to announce the filing of the NI 43-101 mineral resource estimate ("MRE") for its Chord uranium project located in Fall River County, South Dakota, USA. The Chord Uranium Project, Fall River County, South Dakota, USA Mineral Resource NI 43-101 Technical report was prepared by BRS Engineering Inc. with an effective date of May 7th, 2024 (the "Technical Report"). A copy of the Technical Report can be found under the Company's issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company's website.

Chord MRE Highlights:

Total inferred resources of 2.75 Mlb U₃O₈at an average grade of 810 ppm over an average thickness of 8.5 feet.

MRE was based off only 431 of the over 1,247 drill holes historically drilled at the Chord. The 431 drill holes had both reliable collar mapping and geophysical data available for interpretation.

The areas underlying the MRE have the reasonable possibility of connectivity between them along trends within the same fluvial sands of the Inyan Kara group. These broad trends have been projected to connect the drilling in the Viking Area to the Ridge Runner, the Ridge Runner to the October-Jinx, and Southwest of October Jinx.

The Company has delineated Exploration Targets at the Chord Project is estimated in the range of 1.42 to 4.23 Mlb U₃O₈of potential as further described below. These targets currently have insufficient data and are conceptual in nature. Further exploration is needed to test them for mineralization. No guarantee is made that any future resource will be delineated by future exploration.

Estimated Inferred Mineral resources for uranium are reported at a GT cutoff of 0.25 with a minimum intercept grade of 0.02% equivalent U3O8.

A drilling program targeting the confirmation of the current resource would also provide data on the hydrogeology of the mineralized horizons and evaluate their potential for extraction by ISR methods. If the deposit or portions thereof are determined to be In-situ Recovery (ISR) amenable, similar grade and GT cut-offs as were applied to the current Inferred Resource would also be applicable.

Data from two existing monitoring wells onsite indicates that the lower portion of the Chilson member lies within a saturated aquifer. The mineralized portion of this aquifer may prove to be potentially extractable by in-situ recovery (ISR) methods.

The Fall River Uranium district is a past producer of approximately 250,000 tons of mineralized material. Mining in the project area was primarily limited to small sized open pit methods, and focused on the uppermost, oxidized mineral horizons within the Inyan Kara Group. The deeper mineral horizons, particularly with the October-Jinx area were left undeveloped but were strongly explored by Union Carbide Corporation in the late 1970's.

Total Inferred Mineral Resources

Uranium Inferred Mineral Resource Area	GT Cutoff (ft%)	AVG. Thickness (ft)	AVG. Grade (%eU₃O₈)	Tons/ (Millions)	Pounds (e U₃O₈) (Millions)
October-Jinx	0.25	8.8	0.081	1.584	2.569
Viking	0.25	6.0	0.082	.050	.082
Ridge Runner	0.25	5.9	0.069	.075	.103
Total Inferred Mineral Resource	0.25	8.5	.081	1.709	2.754

Pounds and tons as reported are rounded to the nearest 1,000.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Exploration Target Range Summary

Exploration Target Trend	Trend Length (ft)	Trend Width (ft)	AVG. Thickness Range (ft)	AVG. Grade Range (%eU₃O₈)	Tons Range (Millions)	Pounds (e U₃O₈) Range (Millions)
Viking-Runner	7,650	400	3.6 - 7.3	0.056 - 0.074	0.730 - 1.635	0.813 - 2.419
Jinx Ridge	2,480	400	3.6 - 7.3	0.056 - 0.074	0.249 - 0.559	0.278 - 0.826
October South	1,860	600	3.6 - 7.3	0.056 - 0.074	0.298 - 0.668	0.332 - 0.989
Total	11,990		3.6 - 7.3	0.056 - 0.074	1.278 - 2.862	1.422 - 4.234
The potential quantity and grade disclosed above are conceptual in nature and there has been insufficient exploration to define a mineral resource at these targets. Further exploration is needed to test them for mineralization. No guarantee is made that any future resource will be delineated by future exploration.

Readers are encouraged to review the Technical Report and the Company's news release dated May 9, 2024 for additional information on the MRE and the exploration targets disclosed in this news release.

Chord Project, South Dakota

The Chord Project consists of 3,640 contiguous acres. The project lies on the southern end of the Black Hills, in Fall River County, South Dakota approximately seven miles north of Edgemont. Mineralization is sandstone-hosted, and channel-bound into tabular and lenticular deposits within the Lakota and Fall River formations of the Inyan Kara Group.

The Project lies within a historically explored and mined district. Nearly 300 historical uranium mines and prospects once dotted western South Dakota. Union Carbide Corporation (UCC) spent approximately $3.5 to 4.0 million dollars in development of the project in the late 1970's. UCC conducted extensive exploration drilling in the late 1970's, culminating in a Feasibility Study and planned conventional mine development by 1979.

The Chord Project is located just 5.5 miles southeast of enCore Energy's advanced stage and Nuclear Regulatory Commission (NRC) licensed Dewey-Burdock ISR uranium project, which is one of the Company's initial development priorities following the start of production in South Texas.

During the tabulation of the MRE the author and the Company were only able to accurately verify 35% of the holes historically drilled on the Chord property. This, in itself, provides the potential for significant exploration upside to increase the confidence and potential size of the resource at Chord. The Company will be working diligently to continue to upgrade the size and potential of the Chord project. In addition, Basin will also be undertaking steps to assess the ISR viability of the deeper sands that form the majority of the resource on the project. The Company has established exploration targets outside of the ground covered by the MRE, as disclosed below.

Investor Relations

Further to the Company's news release of April 18, 2024, the Company has increased the budget by EUR 100,000 with Plutus Invest & Consulting GmbH ("Plutus"). The consultant will provide strategic consulting services focused on market analysis and financial advisory and managing digital content to support the Company's business initiatives in Europe and beyond.

As of the date hereof, to the company's knowledge, Plutus (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. The Company will not issue any securities to Plutus as compensation for its marketing services.

Qualified Person

Carl D. Warren, P.E., P.G., is a Senior Engineer at BRS Engineering Inc., and is a Qualified Person as defined in NI 43-101. Mr. Warren has reviewed and approved the technical data contained in this news release.

About Basin Uranium Corp.

Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.

For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedar.com.

On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210036

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NCLR:CNX

Basin Uranium Announces Submission of Permit at South Pass

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to announce it has submitted a permit application to the Bureau of Land Management, Department of the Interior for exploration drilling at the South Pass Uranium Project (the "Project" or "South Pass") located in Fremont and Sublette County, Wyoming, USA. The Project, which was acquired through direct staking by the Company, is comprised of 151 unpatented mineral lode claims totaling 3,020 acres located along the perimeter of the Great Divide Basin of Wyoming (see Figure 1). Wyoming is home to both the largest uranium reserves and top producing state in US1, with the Great Divide Basin representing the least exploited of Wyoming's basins estimated to contain over 270 million pounds of uranium2.

The Company has engaged RESPEC Consulting Inc. ("RESPEC") as a strategic technical and operational partner for the permitting and has submitted a Plan of Operation ("PoO") for up to 47 drill pads and 30,000 feet of drilling. The drill program is designed to both confirm the and extend the uranium mineralization delineated from the extensive exploration history of the project. Due to standardization of permitting for uranium exploration in Wyoming, the Company anticipates the receipt of all requisite permits in Q3 2024.

"The simultaneous permitting for multiple projects provides us with the flexibility to rapidly advance exploration on multiple fronts concurrently," commented Mike Blady, CEO of Basin Uranium. "Our partnership with RESPEC allows us to leverage their extensive experience in permitting, exploration and development of uranium assets throughout the USA."

South Pass Project, Wyoming

The South Pass Uranium Project is comprised of 3,020 acres of contiguous claims (151 unpatented mineral lode claims) located 45 miles southwest of Lander, Wyoming. Access to the property is facilitated through State Highway 28, located within 5 miles to the southeast, with year-round gravel and ATV roads servicing the claims. Exploration dates back to the 1960's and 1970's with several large companies having drilled numerous wells along a 12-mile-long trend that bisects the long axis of the property. Specifically, close-spaced drilling by Rocky Mountain Energy Corp. (a subsidiary of Union Pacific Railway) in the 1980's reported uranium mineralization at depths of over 400 feet - depths which would be potentially amenable to in-situ recovery (ISR) methods. Evaluation of historical records also indicated a historic resource was calculated on at least two parts of the claims currently comprising the South Pass project, however additional verification and validation must be performed by the Company's Qualified Person before being disclosed publicly.

The reader is cautioned that at this time it is too early to assess the feasibility of these recovery methods at South Pass however mineralization at this depth typically lies within the parameters of ISR mining and recovery.

Figure 1: South Pass Project Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8416/210703_6296f331847d1b74_001full.jpg

Qualified Person:

R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

About Basin Uranium Corp.

Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.

For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedarplus.ca.

On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

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Basin Uranium Stakes Uranium Project in the Great Divide Basin, Wyoming

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to announce it has acquired the Great Divide Basin Uranium Project (the "Project" or "GDB") located in Sweetwater County, Wyoming, USA. The Project, which was acquired through direct staking by the Company, is comprised of 104 unpatented mineral lode claims totaling approximately 1,880 acres located in south-central Wyoming and within the Great Divide Basin (Figure 1). The claims are located contiguous with Premier American Uranium's Cyclone Project which hosts an exploration target ranging from 6.5 million short tons averaging 0.06% U3O8 (7.9 million lbs. U3O8) to 10.5 million short tons averaging 0.06% U3O8 (12.6 million lbs. U3O8)1. Wyoming is home to both the largest uranium reserves and top producing uranium state in US2, with the Great Divide Basin representing the least exploited of Wyoming's basins estimated to contain over 270 million pounds of uranium3.

"The staking of the GDB property represents our continued expansion into the USA and second internally generated project in Wyoming. We continue to execute on acquiring and developing strategic assets located in prolific mining districts with extensive historical exploration," commented Mike Blady, CEO of Basin Uranium. "The GDB Project and surrounding area have played host to a plethora of explorers, starting with the U.S. government in the 1950's and most recently Tournigan Energy Ltd. in the mid 2000's. The well understood geology, historic exploration, and proximity to UR Energy's Lost Creek ISR mine and processing facility add to the appeal and potential of GDB. Wyoming represents one of the premiere exploration and mining jurisdictions for uranium within the USA which provides for a clearly defined and expedient pathway for permitting and development."

The Great Divide Basin (GDB) Project, Wyoming

The GDB Project is comprised of approximately 1,880 acres of contiguous claims (104 unpatented mineral lode claims) located south and west of Jeffrey City and north and west of Wamsutter, Wyoming. The Project adjoins Premier American Uranium's Cyclone Project and is readily accessible by gravel and dirt roads maintained by the Bureau of Land Management (BLM). The Project has seen extensive historical drilling dating back to the 1970's with many of the pads identifiable on the western half of the project. More recently, Tournigan Energy drilled a number of wells with grade-thickness or GT (grade U₃O₈X thickness in feet) in excess of 0.25GT from a grid located about 500 - 1,000 feet to the southwest of the project, further highlighting the potential for economic grade uranium mineralization within the immediate vicinity.

Figure 1 - GDB Project Location

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8416/209419_3d9f0ef1d47f0b8a_001full.jpg

Qualified Person

R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

About Basin Uranium Corp.

Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has five advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon projects in South Dakota, the South Pass and Great Divide Basin projects in Wyoming, and the Wray Mesa project in Utah. All five projects have seen extensive historical exploration and located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.

For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedarplus.ca.

On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

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Basin Uranium Announces Acceleration of Warrant Expiry Date

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") announces that further to its news release dated September 26, 2023, the expiry date (the "Expiry Date") of its 2,503,306 outstanding share purchase warrants issued on October 19, 2022 and November 15, 2022 (the "Warrants") shall be amended to 30 days in accordance with the policies of the Canadian Securities Exchange (the "CSE"). The acceleration of the Expiry Date is mandated by the policies of the CSE in respect of the previous repricing of the Warrant's exercise price.

On May 10, 2024, the price of the Company's common shares on the CSE closed at $0.485, after closing at or above $0.438 for a period of 10 consecutive trading days (the "Trading Period"). Based on the terms of CSE's warrant repricing policies in respect to the Company's Warrants, this triggers the Company's obligation to accelerate the Expiry Date of the 2,503,306 Warrants held by shareholders who participated in the private placement detailed in the Company's news releases dated October 19, 2022 and November 16, 2022. The exercise period of the Warrants has been accelerated to 30 days (the "Accelerated Term"). The Accelerated Term shall commence seven (7) days from the end of the Trading Period. Accordingly, the new Expiry Date of the Warrants is June 16, 2024. Any Warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Vancouver time) on June 16, 2024.

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Basin Uranium Announces Maiden Mineral Resource Estimate at Its Chord Uranium Project

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") is pleased to announce an initial mineral resource estimate (MRE) for its Chord uranium project located in Fall River County, South Dakota, USA. This MRE incorporates the Company's historic data set acquired through private and public sources and provides a path to expand and build towards a much larger, potentially in-situ recoverable (ISR) resource.

The MRE was prepared by BRS Engineering Inc. in accordance with NI 43-101, Standards of Disclosures for Mineral Projects.

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Basin Uranium Applauds US Government on Russian Uranium Import Ban

Basin Uranium CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") applauds the United States Senate vote to ban the import of enriched uranium from Russia. The Prohibiting Russian Uranium Imports Act, which was approved by unanimous consent, would bar US imports of Russian enriched uranium to fuel the United States over 90 commercial reactors. According to the Energy Information Administration, Russia supplies nearly 25% of all enriched uranium used in domestic reactors.

"The US Government's continued push to reduce foreign dependance on such a critical input of domestic energy security, such as the uranium that fuels the US's clean energy supply, only reinforces our focus and commitment to developing our US uranium asset portfolio," commented Mike Blady, CEO of Basin Uranium. "This announcement, which places an increasing emphasis on US-based sources for uranium supply, comes at an opportune time as we look to table our maiden resource for our Chord project in the coming weeks."

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Uranium Inferred Mineral Resource Area	GT Cutoff (ft%)	AVG. Thickness (ft)	AVG. Grade (%eU₃O₈)	Tons (Millions)	Pounds (e U₃O₈) (Millions)
October-Jinx	0.25	8.8	0.081	1.584	2.569
Viking	0.25	6.0	0.082	.050	.082
Ridge Runner	0.25	5.9	0.069	.075	.103
Total Inferred Mineral Resource	0.25	8.5	.081	1.709	2.754

Basin Uranium Announces Filing of Technical Report Including Maiden Resource Estimate for Chord

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