The Directors of Bassari Resources Limited (Bassari or the Company) (ASX: BSR) are pleased to provide this further update on significant recent events.

Coris International Bank ('Coris') legal matter postponed

The proceeding initiated by Coris Bank seeking to execute the commissary pact and take possession of the Sambarabougou Exploitation Permit (the Permit) was listed for a hearing on 10 August 2021. (refer to ASX Announcement of 27 July 2021). The Company has been advised that this hearing has been removed from the Court list at Coris' request.

The Company understands that Coris is seeking to pursue its original proceeding for a seizure and sale process for the Permit (refer to ASX Announcement of 30 June 2021). That action is listed to be heard on 24 August 2021 to consider the terms and conditions for any sale of the Permit by public auction.

The Company and its legal team in Senegal continue discussions with Coris, the Department of Mines and the Government of Senegal and potential financiers, working towards an agreed repayment solution with Coris as well as securing confirmation from the Government of Senegal that the Permit is in good standing. Further updates will be provided in due course.

About Bassari

Perth - based West African gold developer, Bassari Resources Limited (ASX:BSR), has a strategic portfolio of exploration and exploitation permits focused on the Birimian Gold Belt in Senegal. The permits cover an area of 312 km-2 with 60km of strike along the two adjoining permits. The permits are located within the Keneiba Inlier which is a +60M ounce gold region. Bassari's vision is to discover and delineate gold resources which can be developed into profitable operations.

Contact:

John Traicos

Tel: +61 417 885 279

Email: johntraicos17@gmail.com

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