US$17 Million Drawdown on Taurus Facility

BASE RESOURCES LIMITED - US$17 Million Drawdown on Taurus Facility

PR Newswire

London, June 3

AIM and Media Release 

3 June 2015

BASE RESOURCES LIMITED

US$17 MILLION DRAWDOWN ON TAURUS FACILITY

Base Resources Limited (ASX & AIM: BSE) (“Base” or the “Company”) advises that it has lodged a utilisation notice for the remaining US$17 million of the unsecured debt facility with Taurus Funds Management (“Taurus Facility”), with an expected drawdown date of 18 June 2015 (“Utilisation Date”). It is anticipated that these additional funds will be utilised to satisfy the US$15 million liquidity injection required under the terms of the Kwale Project Debt Facility restructure, completed in November 2014, and to provide parent corporate working capital. Further details about the Taurus Facility are provided in the Company’s announcement dated 23 December 2014.

In accordance with the terms of the Taurus Facility, Taurus will be issued with 30,712,530 unlisted options to acquire new fully paid ordinary shares. The options will be issued for nil cash consideration on the Utilisation Date, with each option having no vesting conditions and being exercisable at A$0.40 on or before 31 December 2018.

ENDS

CORPORATE PROFILE

DirectorsKeith Spence Non-Executive ChairmanTim Carstens Managing DirectorColin Bwye Executive DirectorSam Willis Non-Executive DirectorMichael Anderson Non-Executive DirectorMichael Stirzaker Non-Executive DirectorMalcolm 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: ASX

Computershare Investor Services Pty LimitedLevel 2, 45 St Georges TerracePERTH WA 6000Enquiries: 1300 850 505 / +61 (3) 9415 4000http://www.computershare.com.au/

SHARE REGISTRY: AIM

Computershare Investor Services PLCThe PavilionsBridgwater RoadBRISTOL BS99 6ZZEnquiries: +44 (0) 870 702 0003http://www.computershare.co.uk/

AUSTRALIAN MEDIA RELATIONS

Cannings PurpleMichael Vaughan / Warrick HazeldineEmail: [email protected][email protected]Phone: +61 (0)8 6314 6300

UK MEDIA RELATIONS

Tavistock CommunicationsJos Simson / Emily Fenton / Nuala GallagherPhone: +44 (0) 207 920 3150

KENYA MEDIA RELATIONS

Africapractice (East Africa)David Maingi/ James Njuguna/Joan KimaniPhone: +254 (0)20 239 6899Email: [email protected]

PRINCIPAL & REGISTERED OFFICE

Level 1, 50 Kings Park RoadWest Perth WA 6005Email: [email protected]Phone: +61 (0)8 9413 7400Fax: +61 (0)8 9322 8912