Kwale Project Passes 50% Complete Mark

ASX, AIM and Media Release 22 January 2013 KWALE PROJECT PASSES 50% COMPLETE MARK Base Resources Limited (ASX:BSE AIM:BSE) ("Base") is pleased to advise that the development of the Kwale Mineral Sands Project has achieved the milestone of 50% complete. With development continuing on schedule for completion in the third quarter of this year, the first bulk shipments of product are expected in the fourth quarter. Further information on Base Resources and Base Titanium, the wholly owned Kenyan subsidiary developing the Kwale Project, is available at www.baseresources.com.au and www.basetitanium.com, including the latest progress photos. A full PDF version of the announcement is available at the Company's website: www.baseresources.com.au. ENDS For further enquiries contact: Contacts: Base Resources Limited Tim Carstens Managing Director Email: tcarstens@baseresources.com.au Phone: +61 (8) 9413 7400 RFC Ambrian Limited (Nominated Adviser and Broker) As Nominated Adviser As Broker Andrew Thomson or Trinity McIntyre Caspar Shand-Kydd Phone: +61 (8) 9480 2500 Phone: +44 20 3440 6800 Tavistock Communications (UK Media Relations) Jos Simson/ Jessica Fontaine / Emily Fenton Phone: +44 20 7920 3157 Cannings Purple (Australian Media Relations) Annette Ellis / Warrick Hazeldine Email: aellis@canningspurple.com.au whazeldine@canningspurple.com.au Phone: +61 (8) 6314 6300 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 Winton Willesee Non-Executive Director/ Company Secretary Principal & Registered Office: Contacts: Level 1 Email: info@baseresources.com.au 50 Kings Park Road Phone: (08) 9413 7400 West Perth Fax: (08) 9322 8912 WA 6005 About Base Resources Base Resources Limited (ASX:BSE AIM:BSE) is developing the world-class Kwale Mineral Sands Project in Kenya, East Africa. Kwale is an advanced and highly competitive project in a sector with a significant forecast supply shortfall widely expected to emerge in the medium term. The Kwale Project represents an advanced development opportunity with all material project approvals, permits and licenses required for development secured, funding in place and construction of all project elements underway. The Project enjoys a high level of support from the Government of Kenya as well as the local community and, located just 50km from Mombasa, Kenya's principal port facility, is well serviced by existing physical infrastructure. Importantly, two pilot plant operations at Kwale provide confidence in processing behaviour and indicate a suite of readily marketable products. The Project's high value mineral assemblage and low stripping ratio result in a projected revenue to cash cost ratio that would place Kwale in the top quartile of world producers. A realistic development time line should see the Kwale Project in production in the second half of 2013.
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