Notice of Status of Conditions

AIM and Media Release 30 January 2015 BASE RESOURCES LIMITED NOTICE OF STATUS OF CONDITIONS In accordance with Section 630(3) of the Australian Corporations Act, BaseResources Limited (ASX:BSE AIM:BSE) ("Base" or the "Company") today gave noticeto World Titanium Resources Limited and ASX in relation to the offer ("Offer")made pursuant to the Bidder's Statement dated 23 December 2014 ("Bidder'sStatement") for all of the ordinary shares in World Titanium Resources LimitedABN 21 120 723 426 ("World Titanium"). Base gave notice pursuant to section 630(3) of the Corporations Act 2001 (Cth)that: a. the Offer has not been freed from the Conditions in section 10.9 of the Bidder's Statement; and b. so far as Base knows, as at the date of this notice, none of the Conditions in section 10.9 of the Bidder's Statement have been fulfilled, and accordingly, the Offer remains subject to those Conditions. As at the date of this notice Base's voting power in World Titanium is 7.8%. A full PDF version of the notice is available from www.asx.com.au and theCompany'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 DirectorMichael Stirzaker 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