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The Madagascar Council of Ministers, Chaired by the President of the Republic of Madagascar, has lifted the suspension of activities at the Company's 100%-owned Toliara critical minerals project. The Company can now re-commence development and other technical activities on the ground, which are expected to include the re-establishment of the Company's social programs, additional mine planning and engineering, expanding the critical mineral resource base, as well as progressing any other legal activities necessary to progress the Toliara Project and achieve a positive financial investment decision.

Base Resources Limited advises that the resolution to approve the scheme of arrangement to effect a combination with Energy Fuels Inc., as set out in the Notice of Scheme Meeting in Annexure 6 of the Scheme Booklet dated 2 August 2024, was passed by the requisite majorities of Base Resources shareholders at the Scheme Meeting held on 5 September 2024.

The Base Resources Board has determined to pay a special dividend of AUD 6.5 cents per share (unfranked), conditional on the scheme of arrangement to effect the Company’s combination with Energy Fuels Inc. becoming effective.

The Company has achieved several significant milestones throughout the year, including achieving production guidance, completion of the Toliara Monazite PFS and the proposed combination with Energy Fuels Inc.

The Scheme Booklet containing key information for Base Resources shareholders in relation to the proposed combination with Energy Fuels Inc., to be effected by way of scheme of arrangement, has been registered with ASIC.