African mineral sands producer, Base Resources Limited (ASX & AIM: BSE) (Base Resources) advises that Executive Director - Operations & Development, Mr Colin Bwye, sold 600,000 Base Resources ordinary shares at a weighted average price of A$0.2974 per share on 17 September 2020.

The proceeds of the sale will principally be used to fund Mr Bwye's Australian income tax liability arising from the exercise of his 2016 cycle vested performance rights issued under the Base Resources Long Term Incentive Plan (LTIP), as previously announced on 27 August 2020.

Following the sale of these shares, Mr Bwye holds 7,199,238 fully paid ordinary shares (directly and indirectly) and 7,832,535 unvested performance rights issued pursuant to the LTIP, which remain subject to vesting conditions.

Contact:

James Fuller

Tel: +61 (8) 9413 7426

Email: jfuller@baseresources.com.au

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.

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