Notice of Significant Shareholder

AIM and Media Release 

18 October 2018

BASE RESOURCES LIMITED
Notice of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received the following notification.  

Bank of America Corporation has notified the company that it and its related bodies corporate (Bank of America) have reduced their interest in Base Resources ordinary shares by a net 19,006,785 shares through a series of sales and acquisitions of Base Resources ordinary shares between 5 January 2018 and 12 October 2018.

Consideration received for sales referred to above was a weighted average of A$0.242 per share for 11,025,086 shares (excluding 55,413,916 shares returned under the Prime Brokerage Agreement).  Consideration given to acquire shares referred to above was a weighted average of A$0.287 per share for 10,312,729 shares (excluding 37,119,488 shares borrowed under the Prime Brokerage Agreement). 

Following the net sale, the company understands Bank of America has an interest in 40,316,951 ordinary shares representing 3.46% of total Base Resources ordinary shares on issue, constituting a significant shareholding for the purposes of the AIM Rules for companies.

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

ENDS.

For further information contact:

James Fuller, Manager - Communications and Investor Relations	UK Media Relations
Base Resources	Tavistock Communications
Tel: [phone]	Jos Simson and Barnaby Hayward
Mobile: [phone]	Tel: [phone]
Email: [e-mail]

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 Sands 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 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email: [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISOR
RFC Ambrian Limited
Andrew Thomson / Stephen Allen
Phone: [phone]