Gold Basin lender Charrua agrees loan forebearance

Executive Summary

• Gold Basin Resources Corp. has entered into a forbearance agreement with lender Charrua Capital LLC, extending the deadline for exercising remedies until March 31, 2026.
• The loan terms have been modified to reduce the interest rate from 15% to 9% for the period from January 1, 2026, to March 31, 2026.
• The previously unsecured loan is now secured by 100% owned private minerals parcels within the Gold Basin project, with security to be removed upon satisfactory payment resumption.

Key Details

• Original Loan Terms: Unsecured loan of $500,000 USD obtained in 2024 at 15% per annum interest for short-term working capital.
• Current Outstanding Balance: $617,652 USD (comprising the $500,000 principal plus approximately $117,652 USD in accrued interest).
• Forbearance Period: Charrua Capital agrees to forbear from exercising rights and remedies until March 31, 2026.
• Interest Rate Reduction: Rate reduced from 15% to 9% for the specific period of January 1, 2026, through March 31, 2026.
• Security Amendment: The loan is no longer unsecured; Charrua Capital has placed security against 100% owned private minerals parcels in the Gold Basin project during the forbearance period.
• Security Release Condition: Security will be removed when payments resume to the satisfaction of Charrua Capital.
• Arm's Length Basis: The loan was provided on an arm's-length basis.