Gold Basin Challenges Validity of Helix Resources Joint Venture Claim

Gold Basin Resources Corporation has firmly denied the validity of a joint venture with Helix Resources Limited over the Gold Basin Property. On May 5, 2026, the company announced that the joint venture, claimed by Helix on April 29, 2026, holds no legitimate standing.

Gold Basin argues that the agreement was approved under previous management contrary to a court order from the Supreme Court of British Columbia, with no approval from the TSX Venture Exchange. Issues include undisclosed conflicts of interest, such as Kevin Lynn's role in both companies, and attempts to thwart a takeover bid from Mayfair Acquisition Corp.

Further complications involve Michael Povey, involved in both firms, who signed the agreement before officially joining Helix. Gold Basin plans legal action against former directors to recover alleged losses.