Notice of ceasing to be a Significant Shareholder

BASE RESOURCES LIMITED - Notice of ceasing to be a Significant Shareholder

PR Newswire

London, October 23

AIM and Media Release

23 October 2018

BASE RESOURCES LIMITEDNotice of ceasing to be a Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received the following notification.

Credit Suisse Holdings (Australia) Limited on behalf of Credit Suisse Group AG and its affiliates (Credit Suisse) has notified the company that it has reduced its interest in Base Resources ordinary shares by a net 30,198,021 shares through the sale of 15,000,000 shares at A$0.24 per share, the return of 19,600,000 shares and the further borrowing of 4,401,979 shares each under the Master Prime Brokerage Agreement. These transactions occurred on 17 October 2018.

Following the reduction in Credit Suisse’s interest referred to above, the company understands Credit Suisse has an interest in 29,620,981 ordinary shares representing 2.54% of total Base Resources ordinary shares on issue.

A PDF version of the notice referred to in this release is available from the company’s website: www.baseresources.com.au.

ENDS.

For further information contact:

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance. The Company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar. Base Resources is an ASX and AIM listed company. Further details about Base Resources are available at www.baseresources.com.au

PRINCIPAL & REGISTERED OFFICELevel 1, 50 Kings Park RoadWest Perth, Western Australia, 6005Email: [email protected]Phone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912

NOMINATED ADVISORRFC Ambrian LimitedAndrew Thomson / Stephen AllenPhone: +61 (0)8 9480 2500