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TAW - Tawana - New Joint Venture - Riverton Kimberlite, South Africa Tawana Resources NL (Incorporated in Australia) (Registration number ACN 085 166 721) Share code on the JSE Limited: TAW & ISIN: AU000000TAW7 Share code on the Australian Stock Exchange Limited: TAW & ISIN: AU000000TAW7 ("Tawana" or "the Company") New Joint Venture - Riverton Kimberlite, South Africa The Directors of Tawana Resources ("TAW`) are pleased to announce a joint venture with Taormina Mining (Pty) Limited ("Taormina"), an unlisted South African company, to prospect and evaluate a kimberlite situated 25 kilometers north of Kimberley, South Africa. The kimberlite is a 4 hectare pipe known locally as the Riverton Mine and is anecdotally reported to have produced good quality diamonds when it was mined by small scale diggers during the 1990`s. Mining is reported to have ceased due to permitting issues. No professionally controlled mining has taken place at Riverton, and Tawana will apply modern exploration and mining techniques to evaluate the potential of this project. Tawana is able to earn 51% equity in the project by conducting a 2000 tonnes bulk sampling program followed by an 8000 tonnes evaluation program if warranted. Thereafter Tawana has the option to increase its equity to 70% by paying Taormina Rand 1.5million (approx. A$260,000) Tawana is well equipped to conduct the initial evaluation stages. With the construction of the Kareevlei Wes trial mining facility using its 25 tonne per hour dense media separation ("DMS") plant (see announcement dated 20 April 2007), Tawana will use its existing smaller 10 tph DMS plant at Riverton. Plant operators previously trained and employed by Tawana at its other Northern Cape diamond projects are available for the operation. Tawana`s South African-based General Manager, Craig Bailey, will oversee the Riverton Project while his main focus will be on the Kareevlei Wes trial mining program. Work will commence during the third quarter of 2007. Wolf Marx, Managing Director of Tawana commented today: "The Riverton joint venture is another step on our path to construct a viable portfolio of diamond assets in the most prolific diamond producing regions. One of these regions is based around the town of Kimberley in the Northern Cape Province and Riverton complements our other important projects of Kareevlei Wes, Tawana Alluvials, Daniel Kimberlites and Lexshell." This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM, CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience relevant to the style of mineralisation and types of deposits under consideration, and to the activities undertaken, to qualify as a competent person as defined in the 2004 edition of the "Australasian Code for the Reporting of Mineral Resources and Ore Reserves" Contact: Wolf Marx Tel: +61 (0)3 98635222 Mob: +61 (0)428 398446 Email:wolf.marx@tawana.com.au All press releases and announcements may be inspected on the Company`s web site, namely: www.tawana.com.au 14 May 2007 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 15/05/2007 09:11:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department.
