Kwale SML 23 extension - update

AIM and Media Release 

14 July 2021

BASE RESOURCES LIMITED
Kwale SML 23 extension - update

African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) notes recent reports in the Kenyan media regarding statements made by the Cabinet Secretary for the Ministry of Petroleum and Mining at a recent Kenyan Chamber of Mines conference that the proposed extension to the Kwale Special Mining Lease (SML 23) has been approved and that the licence will be issued soon. 

Base Resources looks forward to shortly finalising the form of Deed of Variation that will give effect to the proposed extension, at which time a further update will be provided to the market. 

The proposed SML 23 extension will incorporate the additional Kwale South Dune Mineral Resources that currently fall outside the footprint of SML 23¹.

[ Note (1) :  For further information, refer to Base Resources’ announcement on 27 July 2020 “Updated Kwale South Dune Mineral Resources and Ore Reserves estimate”.]

ENDS.

For further information contact:

James Fuller, Manager Communications and Investor Relations	UK Media Relations
Base Resources	Tavistock Communications
Tel: [phone]	Jos Simson and Gareth Tredway
Mobile: [phone]	Tel: [phone]
Email: [e-mail]

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:  [e-mail]
Phone: [phone]
Fax: [phone]

NOMINATED ADVISOR
RFC Ambrian Limited
Stephen Allen
Phone: [phone]

JOINT BROKER
Berenberg
Matthew Armitt / Detlir Elezi
Phone: [phone]

JOINT BROKER
Canaccord Genuity
Raj Khatri / James Asensio / Patrick Dolaghan
Phone: [phone]