Notice of change of interests by Substantial Shareholder

AIM and Media Release 

24 May 2024

Base Resources Limited
Notice of change of interests by Substantial Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has received notification from Sustainable Capital Limited (Sustainable Capital) that it reduced its voting power in Base Resources from 266,034,866 ordinary shares to 243,034,866 ordinary shares representing 20.63% of the total Base Resources ordinary shares in issue.  This constitutes a substantial shareholding for the purposes of the AIM Rules for Companies.

Sustainable Capital's interest in 243,034,866 ordinary shares is held as follows:

Holder of interest	Registered holder of shares	Person entitled to be registered as holder	Number of ordinary shares
Sustainable Capital Limited	HSBC-FUND SERVICES CLIENT A/C 006	HSBC BANK AUSTRALIA LIMITED	243,034,866

The decrease in Sustainable Capital's holding for the purposes of the AIM Rules for Companies was the result of the disposal of 23,000,000 ordinary shares on 24 May 2024 for an average price of A$0.285 per share. 

A copy of the notice referred to in this release is available from the company's website:  www.baseresources.com.au.

ENDS.

For further information contact:

Australian Media Relations	UK Media Relations
Morrow Sodali	Tavistock Communications
Cameron Gilenko and Michael Weir	Jos Simson and Gareth Tredway
Tel: [phone]	Tel: [phone]

About Base Resources

Base Resources is an Australian based, African focused, mineral sands producer and developer with a track record of project delivery and operational performance.  The company operates the established Kwale Operations in Kenya and is developing the Toliara Project in Madagascar.  Base Resources is an ASX and AIM listed company.  Further details about Base Resources are available at www.baseresources.com.au.

PRINCIPAL & REGISTERED OFFICE
Level 3, 46 Colin Street
West Perth, Western Australia, 6005
Email:  [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: [phone]

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: [phone]

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