First Ilmenite Shipment Bound for China

ASX, AIM and Media Release 18 February 2014 FIRST ILMENITE SHIPMENT BOUND FOR CHINA AND ZIRCON PRODUCTION COMMENCES Base Resources Limited (ASX & AIM: BSE) ("Base") ("Base" or the "Company") ispleased to advise that the MV African Eagle has left port loaded with 25,000tonnes of ilmenite destined for a customer in China. The ship loader, operatingunder load for the first time, performed to expectation and was able to reachits design capacity of 1,000 tonnes per hour. Regular shipments of bothilmenite and rutile will now commence with shipments of each product scheduledfor March. Base is also pleased to advise the commencement of zircon production at theKwale Project. Following the commissioning of the ilmenite and rutile circuitsof the mineral separation plant ("MSP") in December, wet zircon feed has nowbeen taken through the zircon circuit of the MSP to produce on specificationzircon product. Over the next several weeks processing rates are planned to beramped up and inventories of zircon built up ahead of the commencement ofcontainerised zircon sales in March. All work packages are now complete and operational with only minor defect listitems remaining outstanding. The main focus is now on balancing anddebottlenecking the MSP in order to progress the ramp-up to achieve nameplatethroughput. A full PDF version of the announcement is available at the Company's website:www.baseresources.com.au. ENDS For further enquiries contact: Base Resources LimitedTim CarstensManaging DirectorEmail: [email protected]: +61 (0)8 9413 7400 RFC Ambrian Limited (Nominated Adviser and Broker)As Nominated Adviser As BrokerAndrew Thomson or Trinity McIntyre Jonathan WilliamsPhone: +61 (0)8 9480 2500 Phone: +44 20 3440 6800 Africapractice (East Africa) (Kenyan Media Relations)David Maingi/ James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: [email protected] Tavistock Communications (UK Media Relations)Jos Simson / Emily Fenton / Nuala GallagherPhone: +44 (0) 207 920 3150 Cannings Purple (Australian Media Relations)Annette Ellis / Warrick HazeldineEmail: [email protected]@canningspurple.com.auPhone: +61 (0)8 6314 6300 Corporate Details: Board of Directors:Andrew King Non-Executive ChairmanTim Carstens Managing DirectorColin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorTrevor Schultz Non-Executive DirectorMichael Macpherson Non-Executive DirectorWinton Willesee Company Secretary Principal & Registered Office: Contacts:Level 1 Email: [email protected] Kings Park Road Phone: +61 (0)8 9413 7400West Perth Fax: +61 (0)8 9322 8912WA 6005