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:

                    Registered holder of Person entitled to  Number of ordinary
Holder of interest  shares               be registered as    shares
                                         holder

Sustainable Capital HSBC-FUND SERVICES   HSBC BANK AUSTRALIA 243,034,866
Limited             CLIENT A/C 006       LIMITED

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 SodaliTavistock CommunicationsCameron Gilenko and Michael Weir Jos Simson and Gareth Tredway

Tel: +61 8 6160 4900             Tel: +44 207 920 3150

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:  info@baseresources.com.au
Phone: +61 8 9413 7400
Fax: +61 8 9322 8912

NOMINATED ADVISER & JOINT BROKER
Canaccord Genuity Limited
James Asensio / Raj Khatri / George Grainger
Phone: +44 20 7523 8000

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: +44 20 3207 7800