Canex Metals Announces Final Take up of GOLD Basin Shares and Expiry of Successful GOLD Basin Offer

CANEX METALS INC.

SUITE 1620, 734 - 7TH AVENUE S.W., CALGARY, ALBERTA, T2P 3P8

PH: 403.233.2636 FAX: 403.266.2606

NEWS RELEASE: 26-6 FEBRUARY 10, 2026

Trading Symbol: TSX Venture- CANX

CANEX METALS ANNOUNCES FINAL TAKE UP OF GOLD BASIN SHARES AND EXPIRY

OF SUCCESSFUL GOLD BASIN OFFER

Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) (TSX.V:CANX) is pleased

to announce that a total of 73,026,822 common shares of Gold Basin Resources Corporation

(“Gold Basin”) (TSX.V:GXX), representing 54.04% of the issued and outstanding common

shares of Gold Basin (the “ Gold Basin Shares ”), have been validly deposited (and not

withdrawn) under its offer (the “Offer”) to purchase all of the Gold Basin Shares as of the expiry

of the mandatory 10-day extension (the “ Mandatory Extension Period ”) of the Offer at 5:00

p.m. (Toronto time) on February 10, 2026. The Mandatory Extension Period was initially

announced on January 29, 2026, and the Offer has now expired.

CANEX has initiated the take up process and shareholders of Gold Basin (the “ Gold Basin

Shareholders”) who have tendered during the Mandatory Extension Period will receive the

payment of their CANEX shares promptly.

CANEX intends to call a special meeting of Gold Basin Shareholders for the purpose of, among

other things, seeking shareholder approval for a subsequent acquisition transaction to complete

the privatization of Gold Basin and acquire all Gold Basin Shares not acquired pursuant to the

Offer. The special meeting will be called shortly after Gold Basin holds an annual general

meeting and a new board of directors is elected. Following the successful completion of such

subsequent acquisition transaction, CANEX intends to cause Gold Basin to apply to the TSX

Venture Exchange (the “TSXV”) to delist the Gold Basin Shares from the TSXV and, if permitted

by applicable law, cause Gold Basin to cease to be a reporting issuer (or equivalent) under

applicable Canadian securities laws.

EARLY WARNING DISCLOSURE

The purpose of the Offer is to enable CANEX to acquire all of the Gold Basin Shares (of which

it currently holds 69,517,629 Gold Basin Shares and following completion of the final take-up it

will hold 73,026,822 Gold Basin Shares). A copy of CANEX’s early warning report to be filed for

the final take-up of Gold Basin Shares can be obtained from Laurel Hill Advisory Group, the

information agent for the Offer, by telephone at 1-877-452-7184 (North American Toll-Free

Number), 1-416-304-0211 (outside North America) or by email at [email protected].

CANEX’s head office is located at 734 – 7 th Avenue, Suite 1620, Calgary, Alberta, T2P 3P8,

Canada.

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

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”, “intends”, “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: CANEX’s plans for Gold Basin after take-up of Gold Basin Shares; the intention

to complete a subsequent acquisition transaction for the privatization of Gold Basin; the intention to cause Gold

Basin to delist the Gold Basin Shares from the TSXV and to cease to be a reporting issuer under applicable

Canadian securities laws; and future operating results and various components thereof or the economic

performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements

necessarily involve known and unknown risks and uncertainties, which may cause CANEX’s actual performance

and financial results in future periods to differ materially from any projections of future performance or results

expressed or implied 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.