Shares issued under Institutional Entitlement O...

AIM and Media Release

11 March 2016

BASE RESOURCES LIMITED
Shares issued under Institutional Entitlement Offer

Base Resources Limited (ASX & AIM: BSE) ("Base Resources") is pleased to advise
that it has successfully completed the institutional component of its
accelerated renounceable pro rata entitlement offer announced on Monday,
29 February 2016 ("Entitlement Offer").

Base Resources has today completed the issue of 137,519,329 new fully paid
ordinary shares ("New Shares") pursuant to the institutional component of the
Entitlement Offer ("Institutional Entitlement Offer"), raising gross proceeds
of approximately A$8.3 million.

The New Shares are to commence trading on ASX today. The total number of Base
Resources ordinary shares on issue following the issue of the New Shares is
701,422,100.

The retail component of the Entitlement Offer ("Retail Entitlement Offer")
opened on Thursday, 10 March 2016, with the Retail Entitlement Offer Booklet
being sent to eligible retail shareholders on Wednesday, 9 March 2016. Trading
of retail entitlements on ASX (ASX: BSER) is currently available and is due to
end on Thursday, 17 March 2016.

The Retail Entitlement Offer is scheduled to close at 5.00pm (Sydney time) on
Thursday, 24 March 2016 (for those eligible shareholders on the Australian
register) and 5.00pm (London time) on Wednesday, 23 March 2016 (for those
eligible shareholders on the UK register).

A full PDF version of this release, together with an updated ASX Appendix 3B
reflecting the issue of the New Shares referred to above, are available from 
www.asx.com.au and on the company's website:  www.baseresources.com.au.

ENDS.

CORPORATE PROFILE

Directors
Keith Spence (Non-Executive Chairman)
Tim Carstens (Managing Director) 
Colin Bwye (Executive Director)
Sam Willis (Non-Executive Director)
Michael Anderson (Non-Executive Director)
Michael Stirzaker (Non-Executive Director)
Malcolm Macpherson (Non-Executive Director)

Company Secretary
Chadwick Poletti

NOMINATED ADVISOR & BROKER
RFC Ambrian Limited
As Nominated Adviser:
Andrew Thomson / Stephen Allen
Phone: [phone]
As Broker:
Jonathan Williams
Phone: [phone]

SHARE REGISTRY: ASX
Computershare Investor Services Pty Limited
Level 11, 172 St Georges Terrace
PERTH WA 6000
Enquiries: 1300 850 505 / [phone]
www.computershare.com.au

SHARE REGISTRY: AIM
Computershare Investor Services PLC
The Pavilions
Bridgwater Road
BRISTOL BS99 6ZZ
Enquiries: [phone]
www.computershare.co.uk

AUSTRALIAN MEDIA RELATIONS
Cannings Purple
Warrick Hazeldine / Annette Ellis
Email: [e-mail] /
[e-mail]
Phone: [phone]

UK MEDIA RELATIONS
Tavistock Communications
Jos Simson / Emily Fenton
Phone: [phone]

KENYA MEDIA RELATIONS
Africapractice (East Africa)
Evelyn Njoroge / James Njuguna/Joan Kimani
Phone: [phone]
Email: [e-mail]

PRINCIPAL & REGISTERED OFFICE
Level 1, 50 Kings Park Road
West Perth, Western Australia, 6005
Email: [e-mail]
Phone: [phone]
Fax: [phone]