Resource Base : RBX Further Expands Footprint at Mitre Hill REE Project

ASX Announcement

27 July 2022

onlyAbout Resource Base

EV Metals explorer targeting clay Rare Earths and VHMS in Victoria

a d South Australia

Executive Chairman & CEO

Shann n Green

Non-Executive Director useJamie Myers

Non-Executive Director Paul Hi sey

CFO & Company Secretary

Ailsa Osborne

personalL/4, 105 St Georges Terrace Perth WA 6000

E. [e-mail] W. www.resourcebase.com.au

Enquiries:

C mpany Secretary

Ailsa Osborne

T. [phone]

For

RBX Further Expands Footprint at Mitre Hill

REE Project

Highlights

• Five (5) Exploration Licence applications totalling 2,230km2 submitted for tenements prospective for clay hosted Rare Earths in Victoria, expanding the Mitre Hill project footprint to 4,830km2
• The Company's geological modelling indicates that these new tenements could be highly prospective for clay hosted REE and add significantly to the project footprint and scale

Resource Base Limited (ASX:RBX) (Resource Base or the Company), a strategic metals explorer targeting clay hosted REE and VHMS in Victoria and South Australia, is pleased to announce that it has submitted five (5) Exploration Licence applications totalling 2,230km2 in Victoria for tenements it considers to be prospective for clay hosted Rare Earths (REE).

These five (5) new applications would grow the Mitre Hill clay hosted REE project footprint to 4,830km2 provided all applications are granted. The Mitre Hill Project would remain the second largest land position in the southern margin of the Murray Basin an emerging globally significant clay hosted Rare Earth precinct.

Figure 1: Regional Location of Mitre Hill Project Tenements

For personal use only

Figure 2 below shows the location of the granted, existing, and new tenement applications for the Mitre Hill REE project and demonstrates the scale of the project.

The Company's geological model and hypotheses indicates that these new tenements if granted could be highly prospective for clay hosted REE and add significantly to the project footprint and scale.

Figure 2: Map of Granted, Existing & New Applications

RBX currently has twenty-two (22) tenements, comprising seventeen (17) applications and four (4) granted tenements the southern margin of the Murray Basin in western Victoria and one (1) granted tenement in South Australia. The areas targeted by these applications are considered by the Company to have significant potential for clay hosted Rare Earth mineralisation.

RESOURCE BASE LIMITED ACN 113 385 425

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000

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New Exploration Licence Application Details submitted in Victoria

	Victoria Tenements			Tenement Size (km2)		Application Date
	EL007982		500		21 July 2022
	EL007983		499		14 July 2022
	EL007984		233		14 July 2022
	EL007985		500		14 July 2022
	EL007986		498		14 July 2022

- ENDS -

This announcement has been authorised by the Board of Resource Base Limited.

For further information please visit our website - www.resourcesbase.com.auFollow @ResourceBaseLtd

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RESOURCE BASE LIMITED ACN 113 385 425

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000

T. [phone] E. [e-mail]

For personal use only

About Resource Base Ltd

Resource Base Ltd (ASX: RBX) is an Australian based mineral exploration company focused on the development of highly prospective exploration projects with demonstrated potential for scalable discoveries.

Mitre Hill Project

The Mitre Hill tenements account for 4,830km2 that are prospective for clay hosted Rare Earth Elements (REE) within the southern margin of the Murray Basin, the Project consists of four (4) granted tenements in Victoria, one (1) granted tenement in South Australia and seventeen (17) applications in Victoria.

Upon granting of all tenements Mitre Hill will hold the 2nd largest position within a potential emerging clay hosted Rare Earth precinct located in the southern margin of the Murray Basin across Victoria and South Australia.

The licence and applications are located in the southern margin of the Murray Basin on the South Australian and Victorian state Border near the towns of Naracoorte, Penola and Edenhope

The main economic target is clay hosted REE deposits, with Heavy Rare Earths considered strategically important given global supply modelling. A significant archive of historical exploration data has been acquired by the Company, including drilling results, numerous government studies and minor private exploration.

Black Range Project

The Black Range Project (124km2) in Victoria's premier porphyry and VHMS target district, the Mount Stavely Volcanic Complex (MSVC) in Western Victoria, captures three fault-bound segments of the MSVC volcanics with a combined strike length of approximately 55kms. The Project includes the advanced Eclipse prospect, which is prospective for copper, gold and zinc.

The MSVC is considered an analogue of the Mt Read Volcanics in Tasmania, which is host to a number of world-class VHMS deposits (Rosebery, Hellyer, Que River), the giant Mt Lyell Cu-Au deposit, and the Henty Au deposit. Numerous other targets, including Anomaly F, Honeysuckle, Anomaly K and Mt Bepcha are associated with MSVC rocks across the tenement but have seen little work to date.

Petrological studies indicate that important VHMS style hydrothermal alteration and is well developed on the Eclipse prospect. Resource Base will utilise systematic geophysics, drilling and geochemical analyses combined with petrological and hyperspectral SWIR alteration mapping to vector towards zones with high mineralisation potential as identified from comparison with known VHMS deposits in the Mt Read Volcanics and around the world.

RESOURCE BASE LIMITED ACN 113 385 425

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000

T. [phone] E. [e-mail]

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Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events, or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward- looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Competent Person Statement

The information in this report which relates to Exploration Results is based on, and fairly represents, information compiled by Mr Ian Cameron. Mr Cameron is a Member of the Australian Institute of Geoscientists (AIG) and an employee of the Company. Mr Cameron has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant market announcement. Mr Cameron consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

RESOURCE BASE LIMITED ACN 113 385 425

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000

T. [phone] E. [e-mail]