Basin Energy Ltd Completes Acquisition of Scandinavian Exploration Portfolio

Basin Energy Limited (“Basin”) is pleased to announce the completion of its recent acquisition regarding a highly prospective uranium and green energy metals exploration portfolio in Scandinavia.

Acquisition Highlights:

• Assets Acquired:
  • Five exploration licenses in Sweden and five reservations in Finland.
  • Focused on shear-hosted and intrusive-related mineralization, with historical exploration records highlighting potential for a variety of different green energy commodities.
• Acquisition Structure:
  • Completion of a 100% acquisition of Normetco AS, the portfolio's registered owner, via a share purchase agreement.
  • Issued 18,479,694 shares (subject to escrow of 24-months) and 4,619,924 options (with an exercise price of 10 cents, three years valid, with acceleration milestones).
  • Contingent consideration of up to $2 million based on milestone achievements.

Basin’s Managing Director, Pete Moorhouse, commented: “Basin is pleased to announce the finalization of the acquisition of this exciting and complimentary exploration portfolio. The prospectivity was identified by our team as a largely overlooked region for modern exploration. Initial geochemical results from field work completed in late 2024 are eagerly awaited. Basin would like to thank our existing supportive shareholders and welcomes our new shareholders to the Company.”