Basin Uranium Receives South Pass Project Approval

Vancouver, October 1, 2024 - Basin Uranium Corp. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium", "Basin" or the "Company") is pleased to provide an update on its South Pass uranium project ("South Pass" or the "Project") located in the Great Divide Basin of Wyoming. The Bureau of Land Management's Rock Springs Field Office ("RSFO") has approved Basin Uranium's Plan of Operations for the Project subject to posting a reclamation bond that is accepted with the Department of Environmental Quality ("DEQ") of Wyoming before exploratory operations or surface disturbance can begin. Basin is currently working with the Wyoming DEQ to finalize permitting and bonding from the state and expects the process to conclude in the coming weeks. The Plan of Operation includes 51 drill holes and over 30,000 feet of exploratory and confirmatory drilling. The Company is now moving forward with requests for proposals ("RFP's") from contractors to facilitate future exploration at South Pass.

"Receiving approvals on our exploration plans at South Pass in a timely manner is welcome news for our Company and stakeholders. In addition to these regulatory approvals, the Company is encouraged by Uranium Energy Corps. ("UEC") agreement with Rio Tinto America Inc. to acquire 100% of Rio Tinto's Wyoming assets, which include the fully licensed Sweetwater uranium processing plant located in the Great Divide Basin," commented Mike Blady, CEO of Basin Uranium. "For many years the fate of the Sweetwater mill and its shuttered 4.1-million-pound licensed capacity was uncertain. To have a competent, respected and well-funded operator acquire the asset is fantastic news for the Great Divide Basin and it's future as a important uranium producing hub."

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.

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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