Quarterly Report for the Period Ending 31 December 2023

Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to provide its quarterly report for the period ending 31 December 2023 (the Quarter).

HIGHLIGHTS

RADISSON EAST AND SAKAMI LITHIUM PROJECTS – QUÉBEC, CANADA

• Prospectivity analysis completed during the quarter, key outcomes include:
  • 18 Lithium‐Caesium‐Tantalum (LCT) pegmatite target areas across the Sakami Lithium Project (Figure 2); and
  • Six LCT pegmatite target locations across the Radisson East Lithium Project (Figure 3).
• Analysis of high‐resolution satellite imagery has identified a significant number of potential LCT pegmatite outcrops with several high priority targets confirmed for follow‐up
• The multispectral analysis identified the Sakami South claim package as having the highest prospectivity, and is underlain by geological units that are highly prospective for hosting LCT pegmatites

REDSTONE AND GALAN LITHIUM JOINT VENTURE ‐ JAMES BAY PROJECTS AND ONTARIO PROJECTS

• Redstone has expanded its Canadian lithium footprint via a strategic JV with Galan Lithium Ltd (ASX:GLN) to acquire 100% of the Taiga, Camaro and Hellcat Lithium Projects (James Bay Lithium Projects) located in the heart of the world class James Bay Lithium Province (Figure 7)
• Initial exploration on the James Bay Lithium Projects completed by Axiom Exploration identified 28 prospective pegmatite dykes
• The James Bay Lithium Projects cover 5,187 hectares adjacent to the Patriot Battery Metals (TSXV:PMET) CV8 pegmatite discovery – which has returned average sampling grades of 4.6% Li₂O

ATTWOOD LAKE LITHIUM PROJECT‐ NORTHWESTERN ONTARIO, CANADA

• Assay results received from 209 rock grab samples collected from the Phase 1 exploration program for lithium (Li) and rare‐earth element (REE) bearing pegmatites indicate elevated Li is present
• The mineralogy and geology observed across the entire Property is permissive to host potentially anomalous lithium concentrations

MANAGEMENT COMMENTARY

Commenting on the December quarter, Chairman Richard Homsany said:

“Redstone continued to make steady progress during the December quarter, headlined by the acquisition of a highly prospective suite of lithium projects in the James Bay Province and Northwest Ontario. Redstone has now established a considerable footprint in the James Bay and Ontario lithium districts which are home to several Tier‐1 lithium projects. Our increased exposure to Canadian lithium is highly complementary to our plans for the West Musgrave Copper Project in Western Australia.

Work completed at the Radisson East and Sakami Projects during the quarter has clearly demonstrated the strong potential for LCT mineralised pegmatites to be hosted within our James Bay tenement package. A significant number of high priority Lithium‐Caesium‐Tantalum (LCT) pegmatite target areas have now been confirmed across Radisson East and Sakami, providing a great foundation for exploration success this year. At the Attwood Lake Project in Ontario our initial exploration campaign confirmed several pegmatite outcrops and elevated lithium levels across the project area, which provides us with significant encouragement moving forward.

We enter 2024 with good momentum and look forward to reporting updates from our pipeline of exploration and evaluation activity at regular intervals.”

RADISSON EAST AND SAKAMI LITHIUM PROJECTS – JAMES BAY, QUÉBEC, CANADA

In July 2023 Redstone secured an option to acquire a 100% interest over the highly prospective Radisson East and Sakami Lithium Projects immediately providing the Company with a strong position in the prolific James Bay Lithium district in Québec, Canada.

The Radisson East and Sakami Projects cover over 50km of greenstone belt strike length, which is geology that is known to host spodumene‐bearing pegmatites throughout the world class James Bay Lithium district. Greenstone belts are the key host geology at each high‐grade lithium project nearby including Corvette, Cancet and the Mia Lithium Project (Figure 1).

The Sakami Lithium Project (68 km2) consists of three claim blocks within the La Grande sub‐province situated approximately 14 km north of the boundary between the La Grande and Opinaca sub‐provinces, in a similar geological setting as the Corvette (Patriot Battery Metals), Cancet (Winsome Resources Ltd.) and Adina Lithium Deposits (Winsome Resources Ltd.) lithium deposits, which all occur 10 to 20 km north of the boundary (Figure 1).

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