Attached please find a press release on: Tiomin Resources Inc. ('Tiomin' or the 'Company') (TSX: TIO) and Base Iron Limited ('BIL') (ASX: BSE) have signed a binding Heads of Agreement ('HoA') for a transaction in which BIL acquires the Kwale Mineral Sands Project ('Kwale'), all the intellectual property associated with Tiomin's mineral sands projects in Africa and an option to acquire 100% of Tiomin Kenya Limited ('TKL').