Documents Executed for Debt Facility Reschedule

AIM and Media Release

17 November 2014

DOCUMENTS EXECUTED FOR DEBT FACILITY RESCHEDULE

Base Resources Limited (ASX:BSE; AIM:BSE) ("Base" or the "Company") is pleased
to advise that the final documentation to give effect to the previously
announced rescheduling of the US$215 million Kwale Project Debt Facility ("Debt
Facility") has now been executed by all parties. The rescheduling has the
primary effect of realigning the Debt Facility repayment schedule to reflect
the delay in commencement of sales from the Kwale Project to February 2014 from
the original expectation of October 2013 when the facility was arranged in
2011.

There have been no changes to the key terms of the Debt Facility restructure
from those previously advised to the market. The conditions precedent to the
reschedule taking effect, which are procedural in nature, are expected to be
completed over the next couple of weeks.

The implementation of the debt facility reschedule puts Base in a sound
position to complete the ramp-up and optimisation of the Kwale Project.

ENDS

For further enquiries contact:

Base Resources Limited
Tim Carstens
Managing Director
Email: [e-mail]
Phone: [phone]

RFC Ambrian Limited (Nominated Adviser and Broker)
As Nominated Adviser                             As Broker
Andrew Thomson or Trinity McIntyre               Jonathan Williams
Phone: [phone]                        Phone: [phone]

Africapractice (East Africa) (Kenyan Media Relations)
David Maingi/ James Njuguna/Joan Kimani
Phone: [phone]
Email: [e-mail]

Tavistock Communications (UK Media Relations)
Jos Simson / Emily Fenton / Nuala Gallagher
Phone: [phone]

Cannings Purple (Australian Media Relations)
Annette Ellis / Warrick Hazeldine
Email: [e-mail]
[e-mail]
Phone: [phone]

Corporate Details:

Board of Directors:

Andrew King         Non-Executive Chairman
Tim Carstens        Managing Director 
Colin Bwye          Executive Director
Sam Willis          Non-Executive Director
Michael Anderson    Non-Executive Director
Trevor Schultz      Non-Executive Director
Malcolm Macpherson  Non-Executive Director
Winton Willesee     Company Secretary

Principal & Registered Office:       Contacts:
Level 1                              Email: [e-mail]
50 Kings Park Road                   Phone: [phone]
West Perth                           Fax: [phone]
WA 6005