Quarterly Cash Flow Report

ASX, AIM and Media Release

17 April 2015

                            BASE RESOURCES LIMITED                             

                QUARTERLY CASHFLOW REPORT FOR THE PERIOD ENDING                
                                 31 MARCH 2015                                 

Appendix 5B Summary - Consolidated Statement of Cash Flows

                                              Current Quarter    Year to Date

                                                                    (9 months)

                                                        A'000          $A'000
                                                                             
CASH FLOWS RELATED TO OPERATING ACTIVITIES                                   
                                                                             
Receipts from product sales and related                32,764          86,324
debtors                                                                      
                                                                             
Payments for:                                                                
                                                                             
  * exploration & evaluation                                -               -
                                                                             
  * Kwale operations                                 (21,162)        (61,726)
                                                                             
  * administration and external affairs               (2,832)         (9,560)
                                                                             
  * community development                               (707)         (2,657)
                                                                             
Dividends received                                          -               -
                                                                             
Interest and other items of a similar nature                -               -
received                                                                     
                                                                             
Interest and other costs of finance paid                    -               -
                                                                             
Income taxes paid                                        (16)            (85)
                                                                             
Other (provide details if material)                         -               -
                                                                             
Net operating cash flows                                8,047          12,296
                                                                             
CASH FLOWS RELATING TO INVESTING ACTIVITIES                                  
                                                                             
Payment for purchases of:                                                    
                                                                             
  * prospects                                               -               -
                                                                             
  * equity investments                                      -               -
                                                                             
  * other fixed assets                                (1,520)         (6,250)
                                                                             
  * mine development                                        -               -
                                                                             
  * exploration                                          (15)            (90)
                                                                             
Proceeds from sale of:                                                       
                                                                             
  * prospects                                               -               -
                                                                             
  * equity investments                                      -               -
                                                                             
  * other fixed assets                                      -               2
                                                                             
Loans to other entities                                     -               -
                                                                             
Loans repaid by other entities                              -               -
                                                                             
Other (provide details if material):                                         
                                                                             
  * interest received                                     213             257
                                                                             
  * security deposits paid                               (25)             (5)
                                                                             
Net investing cashflows                               (1,347)         (6,086)
                                                                             
Total operating and investing cash flows                6,700           6,210
                                                                             
CASH FLOWS RELATED TO FINANCING ACTIVITIES                                   
                                                                             
Proceeds from issues of shares, options, etc.               -               -
                                                                             
Proceeds from sale of forfeited shares                      -               -
                                                                             
Proceeds from borrowings                                3,902           3,902
                                                                             
Repayment of borrowings                                     -               -
                                                                             
Dividends paid                                              -               -
                                                                             
Other (provide details if material)                                          
                                                                             
  * interest on borrowings                                  -         (7,369)
                                                                             
  * debt restructure and establishment fees           (1,352)         (4,218)
                                                                             
Net financing cash flows                                2,550         (7,685)
                                                                             
Net increase (decrease) in cash held                    9,250         (1,475)
                                                                             
Cash at beginning of quarter/year to date              12,715          20,945
                                                                             
Exchange rate adjustments                               1,430           3,925
                                                                             
CASH AT THE END OF THE QUARTER                         23,395          23,395


A full PDF version of this announcement is available at the Company's website: 
www.baseresources.com.au.


ENDS

For further enquiries contact:

Base Resources Limited
Tim Carstens
Managing Director
Phone: [phone]

RFC Ambrian Limited (Nominated Adviser and Broker)
As Nominated Adviser       As Broker
Andrew Thomson             Jonathan Williams and John van Eeghen
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)
Michael Vaughan / 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
Mike Stirzaker      Non-Executive Director
Malcolm Macpherson  Non-Executive Director
Keith Spence        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