RESOURCE BASE LIMITED. — Interim / Quarterly Report 2022

Oct 30, 2022

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ASX ANNOUNCEMENT

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QUARTERLY ACTIVITIES REPORT AND

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Highlights

• Positive results received from high priority tenement EL007647 including 14 of the 16 holes, or 88%, intersecting mineralisation, with further results expected to flow at EL007647 until year end. Notable results include intervals of 5m @ 1,106ppm TREO, 6m @ 619ppm TREO and 7m @ 640ppm TREO with a maximum single meter grade of 2,502 ppm TREO

• RBX hold the largest land position in the southern margin of the Murray Basin prospective for clay hosted Rare Earth Elements (REE)

• The Company is working towards establishing an initial inferred JORC Compliant Resource by end of Q1 CY 2023

Resource Base Ltd (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 provide its shareholders with the Company’s Quarterly Activities Report for the period ending 30 September 2022 ( September Quarter ).

Resource Base Non-Executive Chairman, Maurice Feilich, commented:

“The Company has further achieved positive results from its drilling during the September Quarter. This should continue into the December 2022 Quarter.

We are confident that RBX will establish an initial inferred JORC Compliant Resource by end of Q1 CY2023.”

Mitre Hill Project

The Mitre Hill Project tenements account for 7,022km[2] including granted tenements and tenements under application that are highly prospective for clay hosted Rare Earth Elements (REE) within the southern margin of the Murray Basin on the South Australia / Victoria border.

During the September Quarter the Company continued drilling on its 100% owned Mitre Hill Project tenements EL007646 and EL007647 located in Victoria.

EL007647

As announced post Quarter end on 10 October 2022, first results returned exciting results from initial 16 holes drilled on EL007647 during the September 2022 Quarter, with 14 of the 16 holes, or 88%, intersecting mineralisation.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

Notable results include intervals of 5m @ 1,106ppm TREO , 6m @ 619ppm TREO and 7m @ 640ppm TREO with a maximum single meter grade of 2,502 ppm TREO have been returned, refer figures 1 and 2 below.

Geologically, mineralisation at EL007647 is very similar to other Murray Basin clay hosted REE mineralisation reported in the region and quite like that at EL007646 with the addition of dune sands overlying the clayey horizons.

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Figure 1: East looking section of drilled geology and mineralisation on EL007647. Resource Base, 10 October 2022.

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Figure 2: North looking section of drilled geology and mineralisation on EL007647. Resource Base, 10 October 2022.

EL007646

During the Quarter the Company announced results from step-out drilling on EL007646. From the 56 holes assayed 53 holes intercepted REE mineralisation grade above 350ppm TREO or 95% of holes assayed intercepted REE mineralisation grade above 350ppm TREO with maximum intercept grade being 1,397ppm TREO.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

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Further results released post quarter end on 10 October 2022, confirm that mineralisation continues to expand across EL007646 with 89% of holes drilled to date across the tenement intersecting TREO > 350ppm and 59% intersecting TREO > 500ppm with mineralisation open in all directions, refer figure 3 below.

Mineralisation continues to be developed at very shallow depths in the north-western part of the tenement. Top of mineralisation is on average only 7m from surface in the recently received results. With the thickest ( 5m @ 504ppm TREO ) and highest single meter grade ( 1,553 ppm TREO ) the results returned to date on EL007646 support the potential of the broad scale mineralisation being delineated on this tenement continues to grow.

Drilling planned across EL007646 once farmland becomes accessible again, is expected to rapidly expand the footprint of mineralisation.

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Figure 3: Plan view showing location of mineralised drill holes on EL007646, coloured by maximum TREO grade intercepted. Resource Base, 10 October 2022.

The Murray Basin

The Company believes the Murray Basin has the potential to be a globally significant REE precinct.

Drilling results have confirmed the occurrence of shallow mineralisation, across the two drilled tenements of the Mitre Hill Project, this occurrence is aligned with a horizontal development strategy, ie. large scale landholding. In line with this horizontal development strategy the Company submitted 13 applications totalling 4,422km[2] for land prospective for REE during the September Quarter expanding its footprint within the region to 7,022km[2] . The Company aims to develop a globally significant, long-life rare earths business at its 100% owned Mitre Hill Project.

The Company continues to test its geological hypothesis and rapidly expand the footprint of mineralisation across its tenement package.

Near Term Drilling Activity

Air core drilling continues on the Company’s high priority tenement EL007647, refer figure 4 below, located closely to and along strike from AR3’s Red Tail and Yellow Tail JORC compliant clay hosted REE resources.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

Land access activities focus on EL007640 to allow for rapid expansion of the EL007646 mineralisation to the North after the Spring rain season.

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Figure 4: EL007647 tenement location. Resource Base, 23 August 2022.

Black Range Project

The Black Range Project (619km[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 55kms. The Project includes the advanced Eclipse prospect, which is prospective for copper, gold, and zinc.

On 28 July 2022, the Company announced drilling intercepted sulphide rich zone of alteration on the Callisto target approximately 2km south of the Eclipse and Nebula mineralisation. Ongoing work will aim to fingerprint the mineralisation with elemental isotope studies and geophysics to determine if it forms part of the VHMS occurring at Eclipse and Nebula.

During the Quarter the Company announced the expansion of the Black Range Project to include EL007999 application area, refer figure 5 below. EL007999 application area is underlain by Glenelg Metamorphic Complex rocks including Devonian age granites which are unconformably overlain by Murray Basin sediments. The Company is targeting gold and critical metals associated with the granites and the overlying Murray Basin primarily for clay hosted REE mineralisation.

The area has relatively been underexplored in modern times and little is known of the minimal basement economic potential. Similar granitic rocks host known tin and tungsten mineralisation elsewhere in Victoria and Tasmania.

RESOURCE BASE LIMITED ACN 113 385 425

ASX: RBX

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

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ASX ANNOUNCEMENT

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EL4590
EL007999
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Figure 5: Black Range Project tenement locations. Resource Base, 10 August 2022.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

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Corporate

Changes in Management

On 13 September 2022, the Company announced the resignation of Mr Shannon Green as Executive Chairman and CEO, in the interim Mr Jamie Myers was appointed as Non-Executive Chairman and Ms Ailsa Osborne, the Company’s CFO and Company Secretary stepped onto the Board.

On 29 September 2022, the Company announced the appointment of Mr Maurice Feilich as Non-Executive Chairman following the resignation of Mr Jamie Myers, effective immediately. Mr Brent Palmer as a NonExecutive Director with immediate effect.

Cash

The Company has cash reserves as at 30 September 2022 of $1,205,461.

Statement of Commitments

The current quarter is covered by the Statement of Commitments outlined in the Prospectus dated 7 May 2021 and the Short form Prospectus dated 1 October 2021.

A summary of expenditure to date is outlined below:

	Prospectus	Spend to Date	SeptQtr
Black Range Project
Preliminary in Ground Exploration Activities	100,000	80,435	5,927
Geophysics	400,000	273,145	-
Drilling and Sampling	2,215,000	444,650	4,477
Assays	210,000	15,845	-
Project Management	200,000	224,884	4,116
Mitre Hill Project
Assembly of geological database and sampling of
historic drill core	100,000	34,587	900
Drilling & further sampling	233,000	400,595	259,236
Mineralogical and metallurgical test work	195,000	11,860	11,860
Project Management	150,000	148,373	62,203
Corporate
M&A	250,000	188,197	37,209
Administration & Corporate Costs & Working Capital	1,450,000	1,798,284	387,807
Remuneration to Directors	300,000	300,000	-
Repayment of Debt	475,000	475,000	-
Expenses of the Offer	772,000	889,753	-
Capital Equipment Purchase1	-	311,667	92,236
Tenement Applications2	-	247,263	72,535
Total	7,050,000	5,844,539	938,506

RESOURCE BASE LIMITED ACN 113 385 425

ASX: RBX

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

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ASX ANNOUNCEMENT

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1. Capital Equipment Purchases

Includes the purchase of the drill rig including modifications, ancillary support equipment for the rig and XRF analyser.

The rig has already provided substantial cost savings and allows the Company to better manage its drilling programs by avoiding 3rd party delays and disruptions and has enabled flexibility of scheduling to meet landholder requirements.

The Company is also utilising its newly purchased in-field XRF analyser to provide real-time examination of the samples as drilling is conducted.

2. Tenement Applications

Includes the costs associated with submission of applications and advertising. The Company has submitted twentyfive applications prospective for clay hosted REE in Victoria for a totalling 5,562km[2] . Provided all applications are granted the Mitre Hill clay hosted REE project footprint will total 7,022km[2 ] and the Company will hold the largest land position in the southern margin of the Murray Basin an emerging globally significant clay hosted Rare Earth precinct.

Additionally, the Company has submitted one (1) application totalling 495km[2] in Victoria expanding its Black Range Project to 619km[2] .

Related Party Payments

In line with its obligations under ASX Listing Rule 5.3.5, the Company has advised in the Appendix 5B for the period ended 30 September 2022, payments to related parties of the Company totalling $200,965 pertain to payments to Directors for fees, salary and superannuation.

Included in the above is $181,454 payment to Mr Green on his departure.

- 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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Follow @ResourceBaseLtd

Follow Resource Base Ltd (ASX:RBX)

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

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About Resource Base (ASX: RBX)

Resource Base Limited (ASX: RBX) is a strategic metals explorer targeting clay hosted REE and VHMS in Victoria and South Australia. The Company’s flagship project is the Mitre Hill Project in South Australia’s premier rare earth elements (REE) district. Mitre Hill is a clay hosted REE project with a footprint of 7,022km[2] (provided all applications are granted). The Mitre Hill Project holds the largest land position in the southern margin of the Murray Basin an emerging globally significant clay hosted Rare Earth precinct.

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Regional Location of Mitre Hill Project Tenements, Resource Base Limited 28 October 2022

The Black Range Project (619km[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 55kms. The Project includes the advanced Eclipse prospect, which is prospective for copper, gold and zinc. The project consists of one (1) granted tenement and one (1) application in Victoria.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

9

ASX ANNOUNCEMENT

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About Resource Base
Resource Base (ASX: RBX) is a
battery metals explorer targeting
clay Rare Earths and VHMS in
Victoria and South Australia.
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Non - Executive Chairman

Maurice Feilich

Non-Executive Director

Paul Hissey

Brent Palmer

Executive Director, CFO

& Company Secretary

Ailsa Osborne

L/4, 105 St Georges Terrace Perth WA 6000

E. admin@resourcebase.com.au

W. www.resourcebase.com.au

Enquiries:

Company Secretary

Ailsa Osborne T. +61 8 6102 8072

RESOURCE BASE LIMITED ACN 113 385 425

ASX: RBX

Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

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ASX ANNOUNCEMENT

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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). 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. Mr Cameron does not hold securities in the Company.

The Company first released the exploration results relating to Mitre Hill Project tenement EL007646 on 18 May 2022 and further results were released on 23 August 2022. The Company first released the exploration results relating to Mitre Hill Project tenement EL007647 on 10 October 2022, and further results were release on 24 October 2022. The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant market announcement.

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

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ASX ANNOUNCEMENT

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Australian Tenement Schedule as at 30 September 2022

In accordance with ASX Listing Rule 5.3.3, Resource Base Limited provides its list of exploration licenses with its September 2022 quarterly activities report.

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Project Location Tenements Tenements Beneficial Areas Ha
Held At End of Acquired or Interest at
Quarter Disposed of During End of
Quarter Quarter
Black Range Project [1] Victoria, Australia EL4590 Held 100% 12,400Ha
Mitre Hill Project [2] Victoria, Australia EL007646 Held 100% 2,800Ha
Mitre Hill Project [2] Victoria, Australia EL007640 Held 100% 49,000Ha
Mitre Hill Project [2] Victoria, Australia EL007641 Held 100% 10,300Ha
Mitre Hill Project [2] Victoria, Australia EL007647 Held 100% 600Ha
Mitre Hill Project [2] South Australia, EL6708 Held 100% 80,900Ha
Australia
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1. Project was acquired from Navarre Minerals Limited on 2 July 2021

2. Project was acquired 23 December 2021

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

12

ASX ANNOUNCEMENT

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Tenements

Mitre Hill
Victoria	Tenement	Application	Date
Tenements	**Size (km2) **	Date	Granted
EL007640	490	23 July 2021	17 June 2022
EL007641	103	11 June 2021	17 June 2022
EL007646	28	22 June 2021	8 November 2021
EL007647	30	11 June 2021	17 June 2022
EL007888	6	2 March 2022
EL007889	15	2 March 2022
EL007891	6	2 March 2022
EL007892	4	2 March 2022
EL007893	9	2 March 2022
EL007894	6	2 March 2022
EL007895	13	2 March 2022
EL007896	24	2 March 2022
EL007897	44	2 March 2022
EL007898	204	2 March 2022
EL007899	353	2 March 2022
EL007900	456	2 March 2022
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
EL007989	492	28 July 2022
EL007990	257	28 July 2022
EL007991	90	28 July 2022
EL007992	242	28 July 2022
EL007995	90	28 July 2022
EL007993	439	11 August 2022
EL007994	498	11 August 2022
EL008002	84	11 August 2022
Total	6,213
Mitre Hill
South Australia	Tenement	Application	Date
Tenements	**Size (km2) **	Date	Granted
EL6708	809	28 May 2021	1 April 2022
Black Range
Victoria	Tenement	Application	Date
Tenements	**Size (km2) **	Date	Granted
EL4590	124		14 February 2017
EL007999	495	28 July 2022
Total	619

RESOURCE BASE LIMITED ACN 113 385 425 Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 8 6102 8072 E. admin@resourcebase.com.au W. www.resourcebase.com.au

ASX: RBX

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity RESOURCE BASE LTD ABN Quarter ended (“current quarter”) 57 113 385 425 30 SEPTEMBER 2022

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Consolidated statement of cash flows Current quarter Year to date (3
$A’000 months)
$A’000
1. Cash flows from operating activities
1.1 Receipts from customers
1.2 Payments for
- -
(a) exploration & evaluation
- -
(b) development
- -
(c) production
(d) staff costs (193) (193)
(e) administration and corporate costs (206) (206)
1.3 Dividends received (see note 3) - -
1.4 Interest received - -
1.5 Interest and other costs of finance paid (3) (3)
1.6 Income taxes paid - -
1.7 Government grants and tax incentives - -
1.8 Other (provide details if material) - -
1.9 Net cash from / (used in) operating (402) (402)
activities
2. Cash flows from investing activities
2.1 Payments to acquire or for:
- -
(a) entities
(b) tenements (73) (73)
(c) property, plant and equipment (94) (94)
(d) exploration & evaluation (348) (348)
- -
(e) investments
(f) other non-current assets - -
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ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

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Consolidated statement of cash flows Current quarter Year to date (3
$A’000 months)
$A’000
2.2 Proceeds from the disposal of:
- -
(a) entities
- -
(b) tenements
- -
(c) property, plant and equipment
- -
(d) investments
- -
(e) other non-current assets
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (provide details if material) - -
2.6 Net cash from / (used in) investing (515) (515)
activities
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
- -
(excluding convertible debt securities)
3.2 Proceeds from issue of convertible debt - -
securities
3.3 Proceeds from exercise of options - -
3.4 Transaction costs related to issues of equity - -
securities or convertible debt securities
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings (22) (22)
3.7 Transaction costs related to loans and - -
borrowings
3.8 Dividends paid - -
3.9 Other (provide details if material) - -
3.10 Net cash from / (used in) financing (22) (22)
activities
4. Net increase / (decrease) in cash and
cash equivalents for the period
4.1 Cash and cash equivalents at beginning of 2,144 2,144
period
4.2 Net cash from / (used in) operating (402) (402)
activities (item 1.9 above)
4.3 Net cash from / (used in) investing activities (515) (515)
(item 2.6 above)
4.4 Net cash from / (used in) financing activities (22) (22)
(item 3.10 above)
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ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

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Consolidated statement of cash flows Current quarter Year to date (3
$A’000 months)
$A’000
4.5 Effect of movement in exchange rates on - -
cash held
4.6 Cash and cash equivalents at end of 1,205 1,205
period
5. Reconciliation of cash and cash Current quarter Previous quarter
equivalents $A’000 $A’000
at the end of the quarter (as shown in the
consolidated statement of cash flows) to the
related items in the accounts
5.1 Bank balances 1,205 2,144
5.2 Call deposits - -
5.3 Bank overdrafts - -
5.4 Other (provide details) - -
5.5 Cash and cash equivalents at end of 1,205 2,144
quarter (should equal item 4.6 above)
6. Payments to related parties of the entity and their Current quarter
associates $A'000
6.1 Aggregate amount of payments to related parties and their 201
associates included in item 1
6.2 Aggregate amount of payments to related parties and their -
associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an
explanation for, such payments.
6.1 Payments for Directors and payments made under the Executive Services Agreements with
the CEO and CFO’s (net of GST). Includes termination payment to CEO under Executive
Services Agreement.
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ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

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7. Financing facilities Total facility Amount drawn at
Note: the term “facility’ includes all forms of financing amount at quarter quarter end
arrangements available to the entity.
end $A’000
Add notes as necessary for an understanding of the
$A’000
sources of finance available to the entity.
7.1 Loan facilities 145 145
7.2 Credit standby arrangements - -
7.3 Other (please specify) - -
7.4 Total financing facilities 145 145
7.5 Unused financing facilities available at quarter end -
7.6 Include in the box below a description of each facility above, including the lender, interest
rate, maturity date and whether it is secured or unsecured. If any additional financing
facilities have been entered into or are proposed to be entered into after quarter end,
include a note providing details of those facilities as well.
Comprises equipment financing for 2 site vehicles and Insurance Premium Funding.
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8. Estimated cash available for future operating activities $A’000
8.1 Net cash from / (used in) operating activities (item 1.9) (402)
8.2 (Payments for exploration & evaluation classified as investing (348)
activities) (item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (750)
8.4 Cash and cash equivalents at quarter end (item 4.6) 1,205
8.5 Unused finance facilities available at quarter end (item 7.5) -
8.6 Total available funding (item 8.4 + item 8.5) 1,205
8.7 Estimated quarters of funding available (item 8.6 divided by 1.61
item 8.3)
Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”.
Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8
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• 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions:

• 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

• Answer: No, included in the previous quarter was a termination payment to the CEO, the Company expects a reduction in operating cash outflows.

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• 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

• Answer: Yes, as announced on 24 October 2022 the Company has received firm commitments to raise a total of A$753,750 (before costs).

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Yes, included in the current quarter were one off cash outflows, the Company reasonably expects the December quarter cash outflows to be significantly less.

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 31 October 2022

Authorised by: The Board of Resource Base Limited

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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