RESOURCE BASE LIMITED. — Capital/Financing Update 2023

May 24, 2023

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EXTENSIVE FIELD BASED EXPLORATION PROGRAM TO COMMENCE

ASX RELEASE: 25 MAY 2023

Highlights

• Resource Base is pleased to advise that a targeted summer James Bay program will commence around 15 June 2023

• Mapped pegmatites and historical sampling to be explored rigorously over a three month field work exploration phase, to quickly prove up drill ready targets

• Explo-Logik, a technical consultancy firm has been engaged by three companies exploring in the James Bay region, allowing for a centralised exploration program with shared mobilisation and reduced lodging costs for Resource Base

• Six rooms have been secured for a three month period at the highly competitive Mirage Outfitter, which is a 10 minute helicopter ride from the Wali Lithium Project

• Soil and rock-chip samples will be sent to ALS Laboratories in Val-d’Or, Quebec for analysis

• Recent remote sensing data received by the Company will be a strong focus with our soon to be released Magnetic Survey

2

ASX ANNOUNCEMENT

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Resource Base Ltd (ASX: RBX) ( Resource Base or the Company ) is pleased to advise that it has engaged Explo-Logik, a well-regarded Quebec based technical consultancy, to initiate on ground exploration commencing around 15 June 2023.

Executive Director, Brent Palmer, commented: “With the exploration program date set and the technical team assembled, it’s an exciting time for the Company in what is arguably the pre-eminent lithium address globally. The benefit of shared costs for RBX allows a full three month exploration runway with our own designated exploration team, accommodation and helicopter to extensively explore both the Wali and Ernst Lake lithium projects”.

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Figure: Resource Base Lithium project locations, James Bay region, Quebec

Summer Field Work Program

The initial phase of the program is to target known pegmatite occurrences and outcrops as part of a rock chip sampling program. Drilling can occur year-round in the James Bay region; however the targets need to be identified in the June to October period and RBX is well positioned with a designated team in place for the whole summer.

The Company will seek to validate recent remote sensing data from our soon to be released Magnetic Survey, paired with systematic fieldwork to prove up drill ready targets imminently.

- ENDS –

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

For further information please visit our website – www.resourcesbase.com.au

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RESOURCE BASE LIMITED ACN 113 385 425 Level 8/99 St Georges Terrace, Perth WA 6000 T. +61 8 9486 4036 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX