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Base Resources Limited

BASE RESOURCES LIMITED - Notice of Significant Shareholder

AIM and Media Release 

28 November 2019

Notice of Significant ShareholderBASE RESOURCES LIMITED

(ASX & AIM: BSE) () advises that it has today received notification from Bank of America Corporation that it and its related bodies corporate () have increased their voting power in to 72,759,753 ordinary shares, representing 6.21% of the total ordinary shares on issue and constituting a significant shareholding for the purposes of the AIM Rules for Companies.Base Resources LimitedBase ResourcesBase ResourcesBase ResourcesBank of America

Bank of America’s interest in 72,759,753 ordinary shares is held as follows:

The increase in Bank of America’s holding for the purposes of the AIM Rules for Companies was the net result of both the borrowing and return of ordinary shares pursuant to a prime brokerage agreement, and the acquisition and disposal of ordinary shares, since .   26 July 2019

acquired 71,337,842 shares for an average price of per share between and (excluding any securities borrowed pursuant to any prime brokerage agreements).  It also disposed of 50,000,000 shares for an average price of per share between and (excluding any securities borrowed pursuant to any prime brokerage agreements).Bank of AmericaA$0.247A$0.2345 August 201926 November 201911 October 201919 November 2019

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:

AboutBase 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 and is developing the in Madagascar.  is an ASX and AIM listed company.  Further details about are available atBase ResourcesToliara ProjectBase ResourcesBase ResourcesKenyawww.baseresources.com.au

Level 1, , 6005 Email:  Phone: +61 (0)8 9413 7400 Fax: +61 (0)8 9322 8912PRINCIPAL & REGISTERED OFFICE




50 Kings Park RoadWest Perth, Western Australiainfo@baseresources.com.au

Phone: +61 (0)8 9480 2500NOMINATED ADVISOR
RFC Ambrian Limited


Stephen Allen

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


Matthew Armitt

/ / Phone: +44 20 7260 1000JOINT BROKER
Numis Securities Limited


John PriorJames BlackPaul Gillam

Holder of interest  Nature of interest   Registered holder of Number of ordinary
                                         shares               shares

Merrill Lynch       Power to control     Merrill Lynch            35,564,373
(Australia) Futures voting and/or        (Australia) Nominees
Ltd                 disposal of          Pty Ltd
                    securities in its
                    capacity as ultimate
                    beneficial owner
                    having a principal
                    position.

Merrill Lynch       Borrowing of         Merrill Lynch            37,195,380
International       securities pursuant  (Australia) Nominees
(Australia) Ltd     to a Prime Brokerage Pty Ltd
                    Agreement, with
                    power to control the
                    voting and/or
                    disposal of borrowed
                    securities.
,  and Investor  Media Relations
Relations

                                    

Tel: +61 (8) 9413 7426                             and 

Mobile: +61 (0) 488 093 763                       Tel: +44 (0) 207 920 3150

Email:James FullerJos SimsonBarnaby HaywardManager CommunicationsBase ResourcesTavistock CommunicationsUKjfuller@baseresources.com.au
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