RESOURCE BASE LIMITED. — Board/Management Information 2021

Sep 27, 2021

28 September 2021

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ASX Announcement

Appointment of Mr Shannon Green as Executive Chairman and CEO

Highlights

• Current Executive Chairman and experienced mining executive, Shannon Green, appointed as CEO

• As Executive Chairman and CEO, Shannon will continue to drive the exploration and company building activities

• Binding term sheet executed for the new Mitre Hill rare earths project

• Large-scale geophysical program at Black Range Project commencing shortly

Resource Base Limited ( ASX:RBX ) ( Resource Base or the Company ) is pleased to announce that it has appointed Mr Shannon Green as Executive Chairman and Chief Executive Officer ( CEO ) on a full time basis, effective 17 November 2021. Mr Green is currently engaged as Executive Chairman on a part time basis (50% FTE). Having successfully overseen the Company’s ASX listing, Mr Green will now assume the role of CEO to focus on rapidly advancing exploration and development activities at the Black Range Project and completion of the proposed acquisition of Mitre Hill Pty Ltd, the owner of five (5) prospective ionic clay hosted rare earth tenement applications located in Victoria and South Australia (refer to ASX announcement titled ‘Resource Base To Acquire Prospective Rare Earths Project’ announced on 27 September 2021).

Mr Green is an experienced mining executive with over 20 years corporate, resource development and mining operations experience. Mr Green is currently Managing Director of Pathfinder Resources Limited (ASX:PF1) (resigned, effective 16 November 2021) and has previously held the positions of Managing Director at Lindian Resources Limited (ASX:LIN) and General Manager of Project Implementation at Canyon Resources Limited (ASX:CAY).

Commenting on the appointment, Resource Base Non-Exec Director, Mr. Jamie Myers, said:

“We are delighted to have further secured the services of Shannon who is a highly experienced mining executive, with the additional appointment to CEO to enable an even closer working relationship with key executives and the board.”

Pursuant to his Executive Services Agreement, which replaces his previous letter of engagement, Mr Green will receive remuneration of $300,000 per annum, plus superannuation. In addition, the Company may award performance-based bonuses, taking into account such key performance indicators as the Company may set from time to time. The Executive Services Agreement may be terminated by either party without reason on 3 months’ written notice. In the event the Company terminates the Executive Services Agreement, at the end of the 3 month notice period it will also make a payment of 3 months’ salary to Mr Green.

-ENDS-

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

Resource Base Limited

ACN: 113 385 425 ASX: RBX

Registered Office Suite 5, 62 Ord Street West Perth WA 6156 +61 (0)8 9322 1587 admin@resourcebase.com.au resourcebase.com.au

Company Directors Shannon Green Executive Chairman John Lewis Executive Director / CFO Jamie Myers Non-Executive Director Shannon Coates Company Secretary

Contact

Mark Flynn Investor Relations +61 (0)416 068 733 info@resourcebase.com.au

For further information, contact:

or further information, contact:
Shannon Green	Mark Flynn	Shannon Coates
Executive Chairman and CEO	Investor Relations	Company Secretary
+61 8 9322 1587	+61 416 068 733	+61 8 9322 1587
admin@resourcebase.com.au	info@resourcebase.com.au	shannon@evolutioncorp.com.au

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.

Black Range Project

The Black Range Project (124km[2] ) 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 55 kilometres. The Project includes the advanced Eclipse prospect which is prospective for copper, gold and zinc.

The Mount Stavely Volcanic Complex 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.

Mitre Hill Project

On 27 September 2021, the Company announced it had entered a binding term sheet for the acquisition of the Mitre Hill Project (1380km[2] ), which contains five strategic tenement applications over ground located within the Murray Basin across Victoria and South Australia, prospective for ionic clay hosted Rare Earth Element (REE) deposits.

The Applications are located in the Murray Basin on the South Australian and Victorian state Border near the towns of Naracoorte, Penola and Edenhope. The largest and most prospective Application, ELA 2021/00059, runs approximately in a line, covering over 40km of strike length, from the towns of Naracoorte and Penola in South Australia. The main economic target is ionic clay hosted Rare Earth deposits, with possible economic concentrations of Heavy Rare Earths considered strategically important given global supply modelling.

The Applications are located over the transition from the concluding phases of the Loxton - Parilla strandlines to the more broadly spaced Bridgewater formation in South Australia and Victoria. A significant archive of historical exploration data has been acquired by the Company, including drilling results, numerous government studies and minor private exploration.

Resource Base Limited ASX: RBX

www.resourcebase.com.au

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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.

Resource Base Limited ASX: RBX

www.resourcebase.com.au

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