Takeover Bid Closure Compliance Disclosure

AIM and Media Release

11 February 2015

                            BASE RESOURCES LIMITED                             

                  TAKEOVER BID CLOSURE COMPLIANCE DISCLOSURE                   

Base Resources Limited (ASX:BSE, AIM:BSE) ("Base" or the "Company") announces
that the offer by Base for all of the issued capital in World Titanium
Resources Limited closed at 7.00pm (WST) on 6 February 2015. 

In compliance with ASX Listing Rule 3.4.1, a holding distribution schedule and
listing of the largest 20 shareholders for Base as at 6 February 2015 is set
out below:

Largest 20 shareholders as at Friday 6 February 2015

NAME                                                           NUMBER OF      %
                                                                  SHARES       
                                                                               
1.    HSBC Custody Nominees <Australia>                      169,558,108  30.07
                                                                               
2.    J P Morgan Nominees Australia Limited                  108,791,178  19.29
                                                                               
3.    Pacific Road Capital Management GP II Limited           98,184,512  17.41
                                                                               
4.    National Nominees Limited                               50,558,143   8.97
                                                                               
5.    Citicorp Nominees Pty Limited                           25,296,202   4.49
                                                                               
6.    UBS Nominees Pty Ltd                                    13,384,757   2.37
                                                                               
7.    Pacific Road Capital II Pty Ltd <Pacific Rd Res Fund    12,433,348   2.20
      II A/C>                                                                  
                                                                               
8.    Warbont Nominees Pty Ltd <Accumulation Entrepot A/C>     6,195,812   1.10
                                                                               
9.    HSBC Custody Nominees <Australia>                        5,625,071   1.00
                                                                               
10.   Citicorp Nominees Pty Limited <Colonial First State      5,261,418   0.93
      Inv A/C>                                                                 
                                                                               
11.   Raptor Securities Pty Ltd                                3,180,000   0.56
                                                                               
12.   Alchemy Securities Pty Ltd                               3,150,000   0.56
                                                                               
13.   HSBC Custody Nominees <Australia>                        2,990,015   0.53
                                                                               
14.   Pacific Road Capital Mgmnt Gp II Ltd                     2,433,861   0.43
                                                                               
15.   CPU Share Plans Pty Ltd <BSE LTS Control A/C>            2,062,742   0.37
                                                                               
16.   Zero Nominees Pty Ltd                                    1,828,333   0.32
                                                                               
17.   Pacific Road Capital II Pty Limited                      1,648,165   0.29
                                                                               
18.   Ms Rita Marian Brooks + Mr William Tobias Brooks         1,569,973   0.28
      <The Brooks Super Fund A/C>                                              
                                                                               
19.   Raptor Securities Pty Ltd <Stephen Allen S/F A/C>        1,360,000   0.24
                                                                               
20.   Computershare Clearing Pty Ltd <CCNL DI A/C>             1,320,289   0.23
                                                                               
                                                             516,831,927  91.65

Holding distribution schedule as at Friday 6 February 2015

                                             Holders              Units       %
                                                                               
1 - 1000                                         111             18,353    0.00
                                                                               
1001 - 5000                                      161            484,387    0.09
                                                                               
5001 - 10000                                     147          1,266,440    0.22
                                                                               
10001 - 100000                                   441         16,175,148    2.87
                                                                               
100001 and over                                  115        545,958,443   96.82
                                                                               
                                                 975        563,902,771  100.00

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