Shares issued under Institutional Entitlement Offer

AIM and Media Release 11 March 2016 BASE RESOURCES LIMITEDShares issued under Institutional Entitlement Offer Base Resources Limited (ASX & AIM: BSE) ("Base Resources") is pleased to advisethat it has successfully completed the institutional component of itsaccelerated renounceable pro rata entitlement offer announced on Monday,29 February 2016 ("Entitlement Offer"). Base Resources has today completed the issue of 137,519,329 new fully paidordinary shares ("New Shares") pursuant to the institutional component of theEntitlement Offer ("Institutional Entitlement Offer"), raising gross proceedsof approximately A$8.3 million. The New Shares are to commence trading on ASX today. The total number of BaseResources ordinary shares on issue following the issue of the New Shares is701,422,100. The retail component of the Entitlement Offer ("Retail Entitlement Offer")opened on Thursday, 10 March 2016, with the Retail Entitlement Offer Bookletbeing sent to eligible retail shareholders on Wednesday, 9 March 2016. Tradingof retail entitlements on ASX (ASX: BSER) is currently available and is due toend on Thursday, 17 March 2016. The Retail Entitlement Offer is scheduled to close at 5.00pm (Sydney time) onThursday, 24 March 2016 (for those eligible shareholders on the Australianregister) and 5.00pm (London time) on Wednesday, 23 March 2016 (for thoseeligible shareholders on the UK register). A full PDF version of this release, together with an updated ASX Appendix 3Breflecting the issue of the New Shares referred to above, are available fromwww.asx.com.au and on the company's website: www.baseresources.com.au. ENDS. CORPORATE PROFILE DirectorsKeith Spence (Non-Executive Chairman)Tim Carstens (Managing Director)Colin Bwye (Executive Director)Sam Willis (Non-Executive Director)Michael Anderson (Non-Executive Director)Michael Stirzaker (Non-Executive Director)Malcolm Macpherson (Non-Executive Director) Company SecretaryChadwick Poletti NOMINATED ADVISOR & BROKERRFC Ambrian LimitedAs Nominated Adviser:Andrew Thomson / Stephen AllenPhone: +61 (0)8 9480 2500As Broker:Jonathan WilliamsPhone: +44 20 3440 6800 SHARE REGISTRY: ASXComputershare Investor Services Pty LimitedLevel 11, 172 St Georges TerracePERTH WA 6000Enquiries: 1300 850 505 / +61 (3) 9415 4000www.computershare.com.au SHARE REGISTRY: AIMComputershare Investor Services PLCThe PavilionsBridgwater RoadBRISTOL BS99 6ZZEnquiries: +44 (0) 870 702 0003www.computershare.co.uk AUSTRALIAN MEDIA RELATIONSCannings PurpleWarrick Hazeldine / Annette EllisEmail: [email protected] /[email protected]: +61 (0)8 6314 6300 UK MEDIA RELATIONSTavistock CommunicationsJos Simson / Emily FentonPhone: +44 (0) 207 920 3150 KENYA MEDIA RELATIONSAfricapractice (East Africa)Evelyn Njoroge / James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: [email protected] PRINCIPAL & REGISTERED OFFICELevel 1, 50 Kings Park RoadWest Perth, Western Australia, 6005Email: [email protected]: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912 END