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REG-Base Resources Limited: Notice of change of Significant Shareholder

AIM and Media Release 

6 July 2022

BASE RESOURCES LIMITED
Notice of change of Significant Shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has
today received notification from Bank of America and its related bodies
corporate (Bank of America) that, on 4 July 2022, Bank of America had reduced
its voting power in Base Resources by 7,649,915 ordinary shares. 

Base Resources understands that, as at 4 July 2022, Bank of America had a
relevant interest in 55,769,353 ordinary shares, representing 4.73% of the
total Base Resources ordinary shares on issue and constituting a significant
shareholding for the purposes of the AIM Rules for Companies on that date.

The decrease in Bank of America’s relevant interest was the net result of
the disposal and acquisition of ordinary shares, and return and borrowing of
ordinary shares pursuant to prime brokerage agreements, in each case, on and
from 18 May 2022.

Bank of America disposed of a total of 6,566,928 shares for an average price
of A$0.2674 per share between 1 June 2022 and 4 July 2022 (excluding any
shares returned pursuant to a prime brokerage agreement).  It acquired
771,820 shares for an average price of A$0.2906 per share between 18 May 2022
and 30 June 2022 (excluding any shares borrowed pursuant to a prime brokerage
agreement).  

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:

 James Fuller, Manager Communications and Investor Relations  UK Media Relations             
 Base Resources                                               Tavistock Communications       
 Tel: +61 (8) 9413 7426                                       Jos Simson and Gareth Tredway  
 Mobile: +61 (0) 488 093 763                                  Tel: +44 (0) 207 920 3150      
 Email: jfuller@baseresources.com.au                                                         

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 ADVISOR
RFC Ambrian Limited
Stephen Allen
Phone: +61 8 9480 2500

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

JOINT BROKER
Canaccord Genuity
Raj Khatri / James Asensio / Patrick Dolaghan
Phone: +44 20 7523 8000



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