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TAW - Tawana Resources NL - Orapa Project Update- Bulk Sampling Progress 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") 18 June 2008 Orapa Project Update- Bulk Sampling Progress Tawana Resources NL ("Tawana") has been advised by its joint venture partner, Nowak Investments Pty Ltd ("Nowak") that bulk sampling excavations on the Orapa Project BK24 kimberlite have progressed well since commencement in late April. Nowak has also advised Tawana that the mineral chemistry of kimberlitic indicator minerals recovered from 2007 drill samples of BK24 is highly encouraging. The presence of a significant number of G10 garnets gives a strong indication that this diamondiferous kimberlite is likely to yield an encouraging grade. Nowak is excavating three vertical shafts into BK24 to access fresh kimberlite, below the basalt breccia zone, at approximately 30m below surface. The first shaft has reached the 30m target depth from surface and has penetrated kimberlite. The second shaft is currently at 26.5m depth from surface and has not yet penetrated kimberlite and is being continued to the 30m target depth. The third shaft is at 12.7m depth from surface and intersected kimberlite breccia. Excavation of this shaft had been stopped temporarily until the other two shafts have been completed. Nowak is planning to collect 100t of kimberlite from each shaft by excavating the material from 4 five metre tunnels dug radially from the base of each shaft at the 30m level. A Dense Media Separation (DMS) plant has been set up in Francistown, Botswana, in readiness for the processing of the BK24 kimberlite samples, which is expected to commence in late June. At a recent Joint Venture meeting it was agreed that the BK22 and BK23 kimberlites would also be targeted for bulk sampling. Drilling conducted in 2007 suggests that these 2 kimberlite pipes are in fact joined and represent a single pipe with an approximate surface area of 2.2ha. The results of the current bulk sampling on BK24 will determine the scale and scope of future bulk sampling operations. Soil sampling by Nowak in the Moshaiwa area has commenced. The two areas targeted during this sampling program are areas in which previous explorers reported diamonds from soil samples during the 1970`s. The source of these diamonds has not been located, but geomorphologic interpretation by Nowak suggests that there may be at least two diamondiferous sources in the area. The diamonds plot along strike of a dolerite dyke swarm, with which several kimberlites are associated in Botswana and Zimbabwe. Agreement Terms Under the terms of the agreement Nowak is required to conduct and sole fund the following program to earn a 51% interest in the project: Review all the results from the work completed by Tawana. Select kimberlites for mini-bulk sampling at the 30 metre level. The Management Committee, comprising members from Tawana and Nowak, will determine the selected kimberlites. Excavate at least one pit per selected kimberlite to a depth of 30 metres. Excavate from horizontal drives at the 30m level no less than 100 tonnes of kimberlite for processing from the selected kimberlites less than 1 hectare in surface area and no less than 200 tonnes of kimberlite from the selected kimberlites greater than one hectare in surface area. A maximum of 1100 tonnes of kimberlite will be excavated for processing during this initial phase. If warranted additional bulk sampling up to 3000 tonnes per kimberlite could be excavated and processed in subsequent phases. Nowak has also undertaken to conduct exploration on the Borolong and Moshaiwa projects, which are located relatively close to the Orapa tenements. At the completion of the above program, Tawana will have the option to contribute 49% of ongoing expenditure or allow Nowak to continue sole funding to earn 70% interest in the projects by completing a bankable feasibility study. Thereafter both parties will contribute pro-rata to expenditures. Location and Background The Orapa kimberlite field is located in north eastern Botswana, and includes the Orapa, Letlhakane and Damtshaa diamonds mines, which produce in excess of 13 million carats of diamonds per year. These mines are owned by Debswana Diamond Company (Pty) Limited. The Orapa kimberlite field is one of the largest diamondiferous kimberlite fields in the world, containing 79 known kimberlites, of which the majority has been proven to be diamondiferous. The Orapa mine is one of the largest producing kimberlites in the world and is 113 hectares in surface area. The Orapa mine is located 20 km to the west, Letlhakane is 30km to the south, and Damtshaa is 6km to the south of the Tawana licence. Wolf Marx Tel: +61 3 98635222 Mob: +61 428 398446 Email:wolf.marx@tawana.com.au 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" and the 2007 edition of the "South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (The SAMREC Code)" Sponsor to TawanaPricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 18/06/2008 09:18:29 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
