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BASE RESOURCES LIMITED - Notice of change of Significant Shareholder

AIM and Media Release 

4 June 2020

Notice of change of Significant ShareholderBASE RESOURCES LIMITED

(ASX & AIM: BSE) ( or the ) advises that it has today received notification from Bank of America Corporation that, as at , it and its related bodies corporate () had decreased their voting power in to 73,909,534 ordinary shares, representing 6.31% 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 ResourcesCompanyBank of America2 June 2020

Bank of America’s interest in 73,909,534 ordinary shares was held as follows:

The decrease in Bank of America’s holding for the purposes of the AIM Rules for Companies since its last notification to the Company was the net result of the return and borrowing of ordinary shares pursuant to prime brokerage agreements and the disposal and acquisition of ordinary shares, in each case, since .   7 May 2020

disposed of 18,000,000 shares for an average price of per share between and (excluding any shares returned pursuant to a prime brokerage agreement).  It acquired 44,898 shares for an average price of between and .Bank of AmericaA$0.159A$0.14420 May 20202 June 20207 May 202029 May 2020

A copy of the notice referred to in this release is available from the Company’s website:  .www.baseresources.com.au


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 Australia[email protected]

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            37,171,824
(Australia) Futures voting and/or        (Australia) Nominees
Ltd                 disposal of          Pty Ltd
                    securities in its
                    capacity as ultimate
                    beneficial owner
                    having a principal

Merrill Lynch       Borrowing of         Merrill Lynch            36,737,710
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
,  and Investor  Media 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 CommunicationsUK[email protected]

Quick facts: Base Resources Limited

Price: 10.25

Market: AIM
Market Cap: £120.09 m

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