REDSTONE RESOURCES LIMITED - Capital/Financing Update 2023

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ASX ANNOUNCEMENT 13 June 2023

REDSTONE COMMENCES EXPLORATION AT ITS ATTWOOD LAKE LITHIUM PROJECT

HIGHLIGHTS

Exploration has begun at Redstone’s Attwood Lake Lithium Project for lithium and REE.
The Attwood Lake Lithium Project is located in northern Ontario, and consists of 17 contiguous claims totalling 7,416 hectares.
Historical exploration work surrounding the Project area encountered pegmatite intervals.
The Ontario Geological Survey identified numerous pegmatite occurrences in outcrop north of Attwood Lake, several of which were mapped in proximity to a regional NE‐SW oriented fold axis which extends SW through the western portion of Attwood Lake (Figure 1).
The Project is in close proximity to and partially overlaps the boundary between the Uchi and English River Terranes. All major lithium deposits found in this region are located in close proximity (<20 km) to a Terrane boundary.
The Archean Terrane boundaries, as well as the associated faults and folds, act as conduits and pathways for fertile parental magmatic melts and late‐stage pegmatite‐ forming fluids.
The Project is located in northwestern Ontario, which boasts several advanced lithium projects. Numerous deposits that host significant lithium oxide (Li2O) have already been delineated in the region (Figure 2), including:
- Seymour Lake Lithium Deposit and Root Lake‐McCombe Lithium Deposit owned by Green Technology Metals (ASX: GT1)
- Deposits owned by Rock Tech Lithium and Infinite Ore in the Georgia Lake pegmatite field
- Separation Rapids Lithium deposit owned by Avalon Advanced Materials Inc.
- Frontier Lithium with the PAK and Sparks deposits

Redstone Resources Limited ABN 42 090 169 154 60 Havelock Street, West Perth WA 6005 Tel: 08 9328 2552

www.redstone.com.au Email: [email protected]

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Redstone Resources Limited (ASX: RDS) (“ Redstone ” or the “ Company ”) is pleased to announce it has commenced its reconnaissance exploration program on the Attwood Lake Lithium Project (“ Attwood Lake ” or the “ Project ”). The Company has engaged APEX Geoscience (APEX) to carry out a helicopter‐supported geological mapping and sampling program for lithium (Li) and rare‐ earth elements (REE) bearing pegmatites. The APEX crew has mobilised to Pickle Lake where it will undertake the Stage 1 initial program.

The Attwood Lake Lithium Project is located in northern Ontario and consists of 17 contiguous claims totalling 7,416 hectares. The Project is underlain by a folded sequence of metasediments and muscovite‐bearing granites of the Archean English River subprovince. The Project lies in close proximity to and partially overlaps the boundary between the Uchi and English River Terranes.

Notably, all major lithium deposits found in this region are located in close proximity (<20 km) to a Terrane boundary. The Archean Terrane boundaries, as well as the associated faults and folds, act as conduits and pathways for fertile parental magmatic melts and late‐stage pegmatite‐ forming fluids.

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Figure 1: Pegmatites of Attwood Lake Area

Historical exploration work surrounding the Project area includes a diamond drill program targeting massive sulphide mineralisation completed in 2004 for East West Resources Corp. on claims directly NW of the Project. The program consisted of 7 drillholes, 5 of which encountered pegmatite intervals of up to approximately 70m (core‐length). Pegmatite intervals were not assayed for Li or REE.

ASX: RDS

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In 2016, a reconnaissance mapping program carried out by the Ontario Geological Survey (OGS) resulted in the identification of numerous pegmatite occurrences in outcrop north of Attwood Lake (Figure 1). The OGS survey did not cover the Project area. Many of the pegmatitic rock samples were collected within the metasedimentary rock unit which extends throughout Attwood Lake. Several of these pegmatite occurrences were mapped in proximity to a regional northeast‐southwest oriented fold axis which extends southwest through the western portion of Attwood Lake (Figure 1).

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Figure 2: Location of the Attwood Lake Lithium Properties and proximity to other northwestern Ontario Li‐Deposits/Projects, including GT1’s Seymour Lake Li‐Deposit and GT1’s Root‐Lake McCombe Lithium Deposit. The Attwood Properties are located within 5km north of the Uchi‐English River terrane boundary.

This Announcement has been approved for release by the Board of Redstone Resources Limited.

For further information please contact:

Richard Homsany Miranda Conti Chairman Company Secretary Redstone Resources Limited Redstone Resources Limited +61 8 9328 2552 +61 8 9328 2552 [email protected] [email protected]

ASX: RDS

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Forward‐Looking Statements

This document may include forward‐looking statements. Forward‐looking statements include, but are not limited to statements concerning Redstone Resources Limited’s ( Redstone ) planned exploration program and other statements that are not historical facts. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, and similar expressions are forward‐looking statements. Although Redstone believes that its expectations reflected in these forward‐looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward‐looking statements.