Notice of Ceasing to be a Substantial Holder

AIM and Media Release

10 February 2015

                            BASE RESOURCES LIMITED                             

                 NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER                  

Base Resources Limited (ASX:BSE,AIM:BSE) ("Base" or the "Company") announces
that following the closure of the off-market takeover bid ("Takeover Bid") by
Base for World Titanium Resources Limited ABN 21 120 723 426 ("World Titanium")
as announced on 23 December 2014, Base has delivered a Notice of Ceasing to be
a Substantial Holder to the ASX in regard to the Company's current relevant
interest in World Titanium.

The notification states that Base and its subsidiaries currently hold a
relevant interest in 200,000 shares in World Titanium representing an interest
of less than 5%.

A full PDF version of the notice is available from www.asx.com.au and 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
Michael Stirzaker  Non-Executive Director
Malcolm 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