Extension of Existing Debt Facility Secured

ASX, AIM and Media Release

5 December 2013

US$25 Million Extension of Existing Debt Facility Secured

Base Resources Limited (ASX & AIM: BSE) ("Base") is pleased to advise that it
has executed documentation to extend its existing project finance facility
agreements by a further US$25 million (Additional Project Finance Facility).

The Additonal Project Finance Facility will be used to increase the working
capital buffer available during the ramp up phase of the Kwale Mineral Sands
Project. The key terms of the Additonal Project Finance Facility are consistent
with the existing facility. Work to satisfy the conditions precedent to
utilisation is well advanced and expected to be completed over the next month
or so with the principle CP's being:

  * Final approval of the operating licence for the Likoni Marine Terminal.
   
  * A report from the Lenders' Technical Advisor on the start of production,
    including confirmation that nothing has been identified that could
    substantially impede the ramp up of the processing plant.
   
Together with the existing facility, the Additional Project Finance Facility
takes the total debt facility to US$215 million with US$190 million drawn.

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 Limited
Tim Carstens
Managing Director
Email: [e-mail]
Phone: [phone]

RFC Ambrian Limited (Nominated Adviser and Broker)
As Nominated Adviser                   As Broker
Andrew Thomson or Trinity McIntyre     Jonathan Williams
Phone: [phone]              Phone: [phone]

Africapractice (East Africa) (Kenyan Media Relations)
David Maingi/ James Njuguna/Joan Kimani
Phone: [phone]
Email: [e-mail]

Tavistock Communications (UK Media Relations)
Jos Simson / Emily Fenton / Nuala Gallagher
Phone: [phone]

Cannings Purple (Australian Media Relations)
Annette Ellis / Warrick Hazeldine
Email: [e-mail]
[e-mail]
Phone: [phone]

Corporate Details:

Board of Directors:
Andrew King        Non-Executive Chairman
Tim Carstens       Managing Director 
Colin Bwye         Executive Director
Sam Willis         Non-Executive Director
Michael Anderson   Non-Executive Director
Trevor Schultz     Non-Executive Director
Michael Macpherson Non-Executive Director
Winton Willesee    Company Secretary

Principal & Registered Office:      Contacts:
Level 1                             Email: [e-mail]
50 Kings Park Road                  Phone: [phone]
West Perth                          Fax: [phone]
WA 6005