Issue of Equity

AIM and Media Release 29 October 2014 BASE RESOURCES LIMITED ISSUE OF EQUITY Base Resources Limited (ASX:BSE AIM:BSE) (the "Company") announces that it hasissued 2,062,742 fully paid ordinary shares in the capital of the Company uponthe partial vesting of the 2011 stream of Performance Rights under theCompany's Long Term Incentive Plan as approved by shareholders. The Company has applied for the new shares to be admitted to trading on boththe ASX and AIM markets. Trading in the new shares on AIM is expected tocommence on or around 29 October 2014. Following the above issue, the Company has the following securities on issue: NUMBER CLASS 563,902,771 Fully paid ordinary shares 8,500,000 Unlisted options exercisable at A$0.25 on or before 9 July 2015 7,100,000 Unlisted options exercisable at A$0.09 on or before 9 July 2015 1,000,000 Unlisted options exercisable at A$0.25 on or before 30 July 2015 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 DirectorMalcolm 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