REG-Base Resources Limited: Notice of significant shareholder

Base ResourcesAnnouncement

29/05/2024 10:30

AIM and Media Release 

29 May 2024

Base Resources Limited 
Notice of significant shareholder

Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that it has
today received notification from Mitsubishi UFJ Financial Group, Inc. (MUFG)
that, as at 24 May 2024, MUFG had voting power in 87,021,878 ordinary shares
in Base Resources, representing 7.39% of the total Base Resources ordinary
shares in issue.  This constitutes a significant shareholding for the
purposes of the AIM Rules for Companies.

MUFG's interest in 87,021,878 ordinary shares was held as follows:

 Holder of relevant interest           Registered holder of shares                  Nature of relevant interest                                                                                                                                                                                                                                             Number of ordinary shares  
 Mitsubishi UFJ Financial Group, Inc.  Citibank N A Hong Kong                       Relevant interest in securities that First SentierInvestors Holdings Pty Limited has a relevantinterest in under section 608(3) of the CorporationsAct as Mitsubishi UFJ Financial Group, Inc. hasvoting power of 100% in First Sentier InvestorsHoldings Pty Limited.  37,742,305                 
 Mitsubishi UFJ Financial Group, Inc.  JP MORGAN CHASE                                                                                                                                                                                                                                                                                                      2,956,406                  
 Mitsubishi UFJ Financial Group, Inc.  National Australian bank                                                                                                                                                                                                                                                                                             12,179,876                 
 Mitsubishi UFJ Financial Group, Inc.  Morgan Stanley Australia Securities Limited  Relevant interest in securities that Morgan Stanleyhas a relevant interest in under section 608(3) ofthe Corporations Act as Mitsubishi UFJ FinancialGroup, Inc. has voting power of over 20% inMorgan Stanley.                                                         34,143,291                 

Since 25 January 2024, MUFG acquired 44,042,199 ordinary shares for an average
price of A$0.269 per share.  It did not dispose of any shares during this
period.

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 Sodali                     Tavistock Communications       
 Cameron 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



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