Basin Energy Enters into an Exploration Agreement with Ya’thi Néné Lands and Resources Office

Key Highlights:

• Exploration Agreement with Athabasca Denesųłiné First Nations and Athabasca Communities, solidifying information sharing and facilitating mutually beneficial, sustainable and safe exploration activities.

• Agreement relates to activities at the Geikie, North Millennium and Marshall uranium projects located in the southeast Athabasca Basin.

• Athabasca Denesųłiné First Nations and Athabasca Communities confirm consent for the Company’s future exploration activities subject to compliance with the agreement.

Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to announce the signing of an Exploration Agreement (the “Agreement”) that formalises the Company's relationship with Ya’thi Néné Lands and Resources Office (YNLR) representing Hatchet Lake Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond du Lac Denesułiné First Nation and the Northern Hamlet of Stony Rapids, the Northern Settlement of Uranium City, the Northern Settlement of Wollaston Lake and the Northern Settlement of Camsell Portage (collectively the “Athabasca First Nations and Athabasca Communities” or “Communities”), in respect to Basin’s exploration and evaluation activities at the Geikie, North Millennium and Marshall projects (collectively the “Projects”), which are located within Nuhenéné, the territory of the Communities.

The Agreement formalises the process for consultation, environmental management and information sharing between Basin and the Athabasca First Nations and Athabasca Communities relating to the Company’s exploration and evaluation activities at the Projects. It also provides a framework for the Communities and the Company to ensure the meaningful participation of the Communities in the Projects by providing economic, employment and training opportunities and benefits to support community development initiatives. The Agreement confirms the Athabasca First Nations and Athabasca Communities’ consent and support for the Company’s exploration activities, subject to Basin meeting its obligations under the Agreement. The Company continues to engage with other rights holders affected by Basin’s exploration activities.

Basin’s Managing Director, Pete Moorhouse, commented:

“Basin is committed to building mutually beneficial and transparent relationships with all rights holders impacted by our operations. Sustainable and environmentally responsible operations are at the forefront of all exploration activities conducted by the Company. We are pleased to have reached this Agreement that formalises these commitments. We look forward to continuing to work closely with the Athabasca Denesųłiné First Nations and Athabasca Communities involved and are grateful for their involvement as we explore the exciting opportunities that the eastern Athabasca has to offer.”

Mary Denechezhe, Elder and Chairperson of YNLR, commented:

“We are pleased to enter into this agreement with Basin Energy, as they are approaching development in our territory in a positive way that respects our communities and includes our knowledge and aspirations. This is our expectation of all companies seeking to operate in our territory. We look forward to building on this partnership by ensuring the land is respected and that meaningful opportunities come to our people.”

About the Ya’ thi Néné Lands and Resources Office

The Ya’ thi Néné Lands and Resources Office was established in June 2016 with the mandate to promote and enhance the environmental, social, economic, and cultural well-being of current and future Athabasca residents. They are a non-profit organization owned by the seven Athabasca Basin communities of Hatchet Lake Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond du Lac Denesułiné First Nation and the municipalities of Stony Rapids, Uranium City, Wollaston Lake, and Camsell Portage.

With a mission to protect the lands and waters of the Athabasca Basin for the long-term benefit of its Denesułiné First Nations and Athabasca Communities, YNLR is guided by their knowledge, traditions, and ambitions while being a respected partner in relations with industries, governments, and organizations who seek to develop the Athabasca Basin’s resources.

This announcement has been approved for release by the Board of Basin Energy.

Enquiries:

Pete Moorhouse Chloe Hayes

Managing Director Investor & Media Relations

pete.m@basinenergy.com.au chloe@janemorganmanagement.com.au

+61 7 3667 7449 +61 458 619 317