Basin Uranium Corp. provided an update of its asset portfolio with the commencement of drilling at the CHG Project. The reverse-circulation drill program will be testing targets identified through previous geochemistry and geophysical (VTEM) surveys and will be comprised of 1,400 metres over seven to eight holes.

The drill program is entirely funded through funds raised in the company's prior flow-through financing. The company remains focused on uranium exploration within its suite of US and Canadian projects. The CHG project is located in southern BC near the community of Clinton in a semiarid setting on the east slope of the Marble Range.

A key contributor to the geological validation of CHG is the permissiveness of gold mineralization to carbonate rocks (silty sediments and limestone) as demonstrated by the Muddy Lake deposit in northern BC and the Rackla gold project in the Yukon Territory, and the numerous gold deposits of Carlin Nevada. Since initiating exploration in 2013, Cariboo Rose Resources Ltd. (the project optionor) has discovered three small drainages sourcing in the Marble Range (limestone dominant) that returned highly anomalous gold analysis in silt with numerous samples returning values ranging from 100 ppb to 929 ppb gold in silt and to greater than 10,000 ppb gold in sluiced silt. These east-flowing drainages source from an area approximately eight kilometers wide.

Basin completed an airborne VTEM survey in 2021, flown by Geotech Airborne Surveys and identified a number of resistivity and magnetic anomalies near the topographical high end of the silt and sluiced silt dispersion trains. The current drill program will target these anomalies all of which are buried under the recent Pleistocene glaciation.