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BASE RESOURCES ASX , AIM and Media Release 29 July 2021 Quarterly Activities Report – June 2021 Key points • FY21 production guidance achieved . • Ongoing strong demand for all products supported further price increases in the quarter . In pursuit of mine life extension , Kwale North Dune pre - feasibility completed and Bumamani pre - feasibility study on a higher - grade subset initiated and due for completion in the September quarter . • Tanzanian prospecting licences conditionally granted , adjacent to the Kuranze prospecting licence applications in Kenya . • Discussions with the Government of Madagascar on Toliara Project fiscal terms continued to progress . • Production guidance ( tonnes ) released for FY22 : 310,000 to 340,000 о Rutile 73,000 to 83,000 - Ilmenite Zircon 24,000 to 28,000 African mineral sands producer , Base Resources Limited ( ASX & AIM : BSE ) ( Base Resources or the Company ) is pleased to provide a quarterly operational , development and corporate update . COVID - 19 UPDATE Base Resources continues to closely monitor the COVID - 19 pandemic and its impacts on the Company's business , people and wider stakeholders . The Company's Kwale Operations in Kenya operates under a suite of controls and mitigations aimed at protecting the health and safety of our employees and neighbouring communities , including modified workplace practices and a focus on hygiene and social distancing . On site rapid antigen COVID - 19 testing is also utilised and employees have been encouraged to access the Government of Kenya vaccination program . The Company continues to assist governments and communities with community focused initiatives involving the construction of hygiene facilities , and the donation and distribution of food and medical supplies and equipment . KWALE OPERATIONS Production & Sales June 2020 Quarter Sept 2020 Quarter Dec 2020 Quarter Mar 2021 Quarter June 2021 Quarter Production ( tonnes ) Ilmenite 84,843 65,863 78,500 84,178 88,735 Rutile 19,035 15,513 18,171 19,448 20,116 Zircon 7,590 6,000 6,677 7,388 7,057 Zircon low grade¹ 578 426 516 482 454 Sales ( tonnes ) Ilmenite Rutile Zircon Zircon low grade¹ 102,364 75,502 53,798 97,179 93,959 27,268 11,651 12,017 26,074 24,597 9,086 1,516 7,336 6,399 6,612 7,690 505 502 698 1 Reported as tonnes of zircon concentrate , it typically realises between 30 % to 50 % of the value of the equivalent volume of standard grade zircon , due to rutile credits . Base Resources Limited ABN 88 125 546 910 +61 8 9413 7400 baseresources.com.au 50 Kings Park Rd West Perth WA 6005 Page 1 of 7