Quarterly Cashflow Report

ASX, AIM and Media Release

30 January 2014

BASE RESOURCES LIMITED

QUARTERLY CASHFLOW REPORT FOR THE PERIOD ENDING 31 DECEMBER 2013

Appendix 5B Summary - Consolidated Statement of Cash Flows

                                              Current Quarter    Year to Date
                                                                   (6 months)
                                                       $A'000          $A'000
                                                                             
CASH FLOWS RELATED TO OPERATING ACTIVITIES                                   
Receipts from product sales and related debtors             -               -
Payments for:                                                                
  * exploration & evaluation                                -               -
  * development                                             -               -
  * administration and external affairs               (2,843)         (4,847)
  * community development                               (492)           (492)
Dividends received                                          -               -
Interest and other items of a similar nature                -               -
  received                                                                     
Interest and other costs of finance paid                    -               -
Income taxes paid                                           -               -
Other (provide details if material)                         -               -
Net operating cash flows                              (3,335)         (5,339)
                                                                             
CASH FLOWS RELATING TO INVESTING ACTIVITIES                                  
Payment for purchases of:                                                    
  * prospects                                               -               -
  * equity investments                                      -               -
  * other fixed assets                                  (951)           (954)
  * mine development                                 (33,239)        (83,760)
  * exploration                                          (62)           (157)
Proceeds from sale of:                                                       
  * prospects                                               -               -
  * equity investments                                      -               -
  * other fixed assets                                      -               -
Loans to other entities                                     -               -
Loans repaid by other entities                              -               -
Other (provide details if material)                                          
  * interest received                                     110             270
  * security deposits paid                              (275)           (281)
Net investing cashflows                              (34,417)        (84,882)
Total operating and investing cash flows             (37,752)        (90,221)
                                                                             
CASH FLOWS RELATED TO FINANCING ACTIVITIES                                   
Proceeds from issues of shares, options, etc.               -               -
Proceeds from sale of forfeited shares                      -               -
Proceeds from borrowings                               22,540          22,540
Repayment of borrowings                                     -               -
Dividends paid                                              -               -
Other (provide details if material)                         -            (93)
Net financing cash flows                               22,540          22,447
                                                                             
Net increase (decrease) in cash held                 (15,212)        (67,774)
Cash at beginning of quarter/year to date              44,337          98,123
Exchange rate adjustments                               4,160           2,936
CASH AT THE END OF THE QUARTER                         33,285          33,285

A full PDF version of this announcement is available at the Company's website: 
www.baseresources.com.au.

ENDS

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
Michael 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]