Takeover Offer for World Titanium Resources Opens

ASX, AIM and Media Release

6 January 2015

                            BASE RESOURCES LIMITED                             
           Takeover Offer for World Titanium Resources Limited Opens           

Base Resources Limited (ASX & AIM: BSE) ("Base" or the "Company") is pleased to
advise that its bidders statement in respect of the previously announced
off-market takeover offer ("Offer") for World Titanium Resources Limited (ASX:
WTR) ("World Titanium") ("Bidders Statement") has today been dispatched to
World Titanium shareholders. The Offer is now open for acceptances.

Base notes the recommendation of the Board of World Titanium that their
shareholders reject the Offer. However, the Directors of Base continue to
believe there are compelling reasons to accept the Offer and encourage World
Titanium shareholders to read the Bidders Statement carefully. Base intends to
engage directly with the World Titanium shareholders holding substantial
interests to encourage their support for the successful completion of the
Offer.

A full PDF version of this announcement, the notice of dispatch of the Bidders
Statement and copies of the documents sent to the shareholders of World
Titanium are available on the Company's website at www.baseresources.com.au.

For further enquiries contact:

Base Resources Limited
Tim Carstens
Managing Director
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)
Michael Vaughan / 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
Mike Stirzaker     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