RUBIX RESOURCES LIMITED — Capital/Financing Update 2024

Jan 24, 2024

ASX ANNOUNCEMENT 25 January 2024

Cultural Heritage Survey Completed at Lake Johnston

Highlights

• The Cultural Heritage Survey at Lake Johnston is now complete.

• The locations of up to 30 drillholes have been approved for exploration activities.

• Approved holes were designed to test soil anomalism associated with both the Jimberlana Dyke and Lake Johnston Greenstone Belt

• The Lake Johnston Greenstone Belt is host to recent lithium mineralisation discoveries including Mount Day and Medcalf (Charger Minerals ASX:CHR), and the Burmeister Lithium Project (TG Metals ASX:TG6)

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Figure 1 – The Cultural Heritage Survey team on site at the Lake Johnston Project (foreground). The saltpans of Lake Johnston are visible in the background.

Rubix Resources Limited (ASX: RB6) ( Rubix or the Company ) is pleased to announce the recent completion of a Cultural Heritage Survey at Lake Johnston. A survey team comprising registered Native Title Holders, the Ngadju People, and Terra Rosa Cultural Heritage Consultancy and Rubix staff has reviewed the sites of proposed new access tracks and drillholes.

The survey has approved the location of 30 drillholes for exploration activities ( Figure 2 ), with modifications that will permit Rubix to avoid mature vegetation and to preserve the integrity of the local flora and fauna.

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ASX ANNOUNCEMENT 25 January 2024

The initial phase of proposed exploration will largely use existing access tracks. Proposed drillholes are positioned to target both the Jimberlana Dyke and the Lake Johnston Greenstone Belt. The Jimberlana Dyke is considered prospective for nickel sulphide mineralisation, while the Lake Johnston Greenstone Belt hosts both nickel and lithium mineralisation, with lithium mineralisation hosted in shallowly to moderately-dipping, fractionated granitic pegmatites. Outcropping pegmatites within the license area have been observed by Rubix in close spatial association with the greenstone belt interpreted from magnetic data ( Figure 2 ).

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Figure 2 – Location of approved proposed drillholes

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Figure 3 – Native Title Holders inspect the area of a proposed drillhole during the survey

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ASX ANNOUNCEMENT 25 January 2024

Lithium mineralisation in the Lake Johnston Greenstone Belt

The Lake Johnston Greenstone Belt (LJGB) is host to recent lithium mineralisation discoveries at Mount Day and Medcalf (Charger Minerals ASX:CHR), and at the Burmeister Lithium Project (TG Metals ASX:TG6), located to the north-west and south respectively from Rubix’ license.

Lithium-bearing pegmatites at the Burmeister Project ( Figure 4 ) comprise a shallowly (10-15⁰) west-dipping series of stacked pegmatites average between 8 and 12m thick, which are mineralised with spodumene[1] . Near surface and at shallow depths, the tenor of mineralisation is poor due to the decomposition of spodumene.

At Medcalf, pegmatites occur as a swarm of anastomosing tabular bodies up to 5m thick, hosted in foliated amphibolites. Both the enclosing host rocks and pegmatites strike northwest, and the pegmatite bodies have a dip of approximately 40° to the southwest[2] .

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Figure 4 - Mines and projects near to the Lake Johnston project

2 Charger Metals ASX release dated 19 January 2023

1 TG Metals ASX release dated 30 October 2023

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ASX ANNOUNCEMENT 25 January 2024

Cautionary note :

The presence of pegmatite, pegmatite granite or visual spodumene does not equate to economic levels of lithium mineralization. The Company is encouraged by the geology and regional geophysical data currently available, but no further quantitative or qualitative assessment of mineralization is possible at this stage.

Lake Johnston Project Overview

Rubix’s Lake Johnston Project in south-central Western Australia comprises a single license, E63/2091, held 100% by Rubix. The project is prospective for gold (Au), nickel (Ni), platinum group metals (PGEs) and lithium (Li) mineralisation.

The project encompasses a structural deflection of the Jimberlana Dyke, a layered mafic intrusion with features comparable to the Great Dyke of Zimbabwe, which is prospective for nickel and platinum group metals. The project encompasses the same geology of the Lake Johnston Greenstone Belt which is host to massive sulphide nickel deposits and lithiumtantalum pegmatite fields.

Rubix’ tenure is located 12 km east of the Maggie Hays and Emily Ann nickel mines (owned by Poseidon), and the Mount Day Projects (Charger Metals), and 30 km to the north of the Medcalf Spodumene project (Charger Metals). The Earl Grey / Mt Holland lithium mine and concentrator (Covalent Lithium) is approximately 85km to the west of the Lake Johnston project ( Figure 5 ).

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Authorised for released by the board of Rubix Resources Limited.

For Further Information Casey Blundell Matthew Wright Chief Executive Officer Investor/Media relations casey@rubixresources.com.au matt@nwrcommunications.com.au +61 451 896 420

About Rubix Resources

Rubix Resources Limited (ASX: RB6) has a diversified base metal and gold asset portfolio providing opportunities for new discoveries in proven districts. The company’s assets comprise ten exploration licenses across four projects in Northern Queensland and Western Australia, and the Ceiling Lithium Project in James Bay, Quebec.

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ASX ANNOUNCEMENT 25 January 2024

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Figure 5 – Location of the Lake Johnston Project E63/2091

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ASX ANNOUNCEMENT 25 January 2024

Table 1 – Details of Rubix Resources’ exploration licenses, granted and pending

Project	Tenement	Status	% Held
Paperbark	EPM 14309	Granted	100%
**Etheridge **	EPM 27377	Granted	100%
**Etheridge **	EPM 27253	Granted	100%
**Etheridge **	EPM 27294	Granted	100%
**Etheridge **	EPM 27295	Granted	100%
Lake Johnston	E 63/2091	Granted	100%
Redbeds(Paperbark South)	EPM 28439	Granted	100%
Redbeds(Paperbark South)	EPM 28440	Granted	100%
Redbeds(Paperbark South)	EPM 28441	Granted	100%
Redbeds(Paperbark South)	EPM 28442	Granted	100%
Ceiling Lithium Project(Quebec)	101 activeproperties	Granted	100%

Competent Person Statement

The information in this announcement is based on, and fairly represents information compiled by Dr. Casey Blundell, a Competent Person who is a Member of the Australian Institute of Geoscientists (MAIG) and the Australian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which she has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Blundell consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Forward Looking Statements

Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

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