Notice of significant shareholder

AIM and Media Release 

29 May 2024

Base Resources Limited
Notice of significant shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has today received notification from Mitsubishi UFJ Financial Group, Inc. (MUFG) that, as at 24 May 2024, MUFG had voting power in 87,021,878 ordinary shares in Base Resources, representing 7.39% of the total Base Resources ordinary shares in issue.  This constitutes a significant shareholding for the purposes of the AIM Rules for Companies.

MUFG's interest in 87,021,878 ordinary shares was held as follows:

Holder of relevant interest	Registered holder of shares	Nature of relevant interest	Number of ordinary shares
Mitsubishi UFJ Financial Group, Inc.	Citibank N A Hong Kong	Relevant interest in securities that First SentierInvestors Holdings Pty Limited has a relevantinterest in under section 608(3) of the CorporationsAct as Mitsubishi UFJ Financial Group, Inc. hasvoting power of 100% in First Sentier InvestorsHoldings Pty Limited.	37,742,305
Mitsubishi UFJ Financial Group, Inc.	JP MORGAN CHASE		2,956,406
Mitsubishi UFJ Financial Group, Inc.	National Australian bank		12,179,876
Mitsubishi UFJ Financial Group, Inc.	Morgan Stanley Australia Securities Limited	Relevant interest in securities that Morgan Stanleyhas a relevant interest in under section 608(3) ofthe Corporations Act as Mitsubishi UFJ FinancialGroup, Inc. has voting power of over 20% inMorgan Stanley.	34,143,291

Since 25 January 2024, MUFG acquired 44,042,199 ordinary shares for an average price of A$0.269 per share.  It did not dispose of any shares during this period.

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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