Resource Base Ltd. announced results from 87 drillholes from EL007646 and EL007647 drilling during July and early August have been received from the Bureau Veritas assay laboratory in Adelaide. EL007647 First results returned from initial 16 holes drilled on EL007647 are very exciting, with 14 of the 16 holes, or 88%, intersecting mineralisation. Refer figures 1 - 3 for mineralised drill holes and cross sections.

From the 16 holes, exciting 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. A great start to exploration on this tenement and indication that the trend of Australian Rare Earths Ltd. mineralisation of their Red Tail and Yellow Tail deposits 1 likely extends across to the south-east and into EL007647, refer figure 4 for EL007647 tenement location. 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.

Drilling is ongoing at EL007647 which is a well-drained sandy rise and should be accessible for drilling throughout this unusually wet Spring season. 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 has expanded its footprint within the region with a view 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.