RESOURCE BASE LIMITED. — Capital/Financing Update 2023

Apr 30, 2023

ASX ANNOUNCEMENT

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PLACEMENT TO RAISE $1.32 MILLION

ASX RELEASE: 1 MAY 2023

Highlights

• Firm commitments received for a Placement reflecting strong support from new and existing institutional and sophisticated investors to raise $1.32 million (before costs)

• Funds raised will be used to progress exploration at the Wali and Ernst Lake Lithium Projects, the Mitre Hill REE project, for new project evaluation and for general working capital purposes

Resource Base Ltd (ASX: RBX) ( Resource Base or the Company ) is pleased is pleased announce it has received firm commitments to raise a total of A$1.32 million (before costs) through a placement of 11m new shares to sophisticated and institutional investors ( Placement ) at an offer price of A$0.12 per share.

Funds raised under the Placement will be used towards:

• airborne and ground-based geophysical surveys at the Wali and Ernst Lake projects, Quebec;

• ongoing exploration, including metallurgical test work, at the Mitre Hill REE project;

• exploration at Black Range;

• new project evaluation; and

• general working capital purposes.

Details of the Placement

New and existing sophsitcated investors have agreed to subscribe for approximately 11 million shares at the offer price of $0.12 per share to raise $1,320,000 before transaction related costs costs utilising the Companys exisitng placement capacities under ASX Listing Rules 7.1 (4 million shares) and 7.1A (7 million shares).

The shares issued under the Placement are expected to be issued and commence trading on 8[th] May.

The Placement issue price of A$0.12 per share represents:

• 11.11% discount to the last traded price on 26 April 2023 (A$0.135); and

• 16% discount to the 5-day VWAP price (A$0.143)

Taylor Collison Limited acted as lead manager to the Placement. Taylor Collison will be paid a cash fee of 6% on funds raised. No options were issued as part of the Placement.

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 ANNOUNCEMENT

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An Appendix 3B accompanies this announcement.

- 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