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TAW - Tawana Resources NL - Acquisition of the Sinoe Gold Project in Liberia 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") Acquisition of the Sinoe Gold Project in Liberia HIGHLIGHTS * Due diligence successfully completed * Rights to the Sinoe Gold Project in SE Liberia now fully secured * 400 Km2 of highly prospective Birimian geology along the Dugbe Shear; arguably the most prospective gold mineralised structure being explored in Liberia today * 20 Km along strike from Hummingbird`s (AIM: HUM) Dugbe Resource (0.8 Moz) and 40 Km along strike from Equator Resources (ASX: EQU) Bukon Jedeh project * The area has seen no previous modern day exploration * Extensive artisanal mining activity throughout the licence area * Aggressive field exploration programme underway The Directors of Tawana Resources NL (ASX: TAW, the `Company`) are pleased to announce the acquisition of a highly prospective land package in Sinoe County, south-eastern Liberia referred to as the Sinoe Project. This represents an exciting opportunity to explore highly prospective Birimian geology in Liberia along strike to an emerging gold province and a further extension of the Company`s commitment to rapid growth in West Africa. The mineral exploration licence covers 400 km2 of Birimian aged rocks along arguably the most prospective gold mineralised structure being explored in Liberia today; the Dugbe Shear. (Maps removed) The project area is 25 km along strike from Hummingbird`s (AIM: HUM) 0.8 Moz Dugbe Project and 40 km along strike from Equator Resources (ASX: EQU) Bukon Jedeh Project. Both projects are hosted along secondary and tertiary order structures adjacent to the main Dugbe Shear. Similar structural targets have been defined in the government regional aeromagnetics data over the Sinoe Project area. The area is characterised by numerous artisanal gold workings observed in the field during recent site due diligence activities. The area is also characterised by numerous gold, quartzite, graphite and manganese occurrences on the USGS Geological map of Liberia; all favourable indications for gold prospectivity. (Artisanal workings observed within the project area pictures removed) An aggressive field sampling and mapping programme has commenced. Field teams are on site carrying out soil sampling traverses over high priority target areas. Blanket, wide spaced soil traverses within the license area and closer spaced soil traverses over high priority targets including hard-rock artisanal workings are being planned. It is expected that this initial soil sampling data will delineate high priority targets for drilling in 1QCY12. Assessment of artisanal workings in the area, access and geological mapping will also be undertaken. A community`s consultation programme has been successfully completed to ensure a social license to operate. (Sinoe Project area on regional total aeromagnetic imagery showing approximate locations of advanced projects along strike to the east pictures removed). Access is via paved and laterite road from Monrovia to Greenville and access track from Greenville to the project area. Under the terms of the agreement, the Company has secured the services of the vendor`s expatriate site manager to build access tracks, additional camp facilities and maintain a logistics network to facilitate exploration activities. Sinoe Agreement The Company and Global Mineral Investments LLC (`GMI`), a private Liberian company signed a binding Heads of Agreement for an option to purchase outright the mineral exploration licence over the Sinoe Project held by GMI. Under the terms of the agreement the Company has the option to purchase outright the mineral exploration licence after meeting the following terms and conditions: 1 US$10,000 Option payment to secure exclusivity - PAID 2 US$40,000 Execution payment on successful due diligence - PAID 3 US$50,000 Execution payment within 6 months of the commencement of exploration or announcing to market a significant exploration target The Company is to fund exploration during the first year after which it has the right to purchase the licence outright or walk away unencumbered. Should the Company choose to purchase the licence outright it does so at the following terms: 1 US$350,000 payment and 6 million shares in the Company 2 US$1 million payment at announcement of 1 Moz JORC compliant resource 3 Additional US$1 million payments for each additional 500 Koz JORC compliant resource announced to market up to a maximum JORC compliant resource of 2.5 Moz 4 US$5 million payment at pouring first gold from a mining operation within the licence area. Nimba and Lofa Licence Update The Company is pleased to provide an update on the Nimba and Lofa exploration programmes. Regional stream sediment sampling and targeted soil sampling traverses were completed late July 2011. Mapping along soil traverses cut on the Nimba prospect has identified younger hematite dusted porphyritic alkaline feldspar-quartz-mica composition granites cross cutting the gneiss basement further highlighting the prospectivity of this area. Laboratory and quality assurance/quality control delays have resulted in slower than expected assay turnaround. We are in regular contact with the laboratories and results will be announced to the market as soon as they are received. About Liberia Liberia is a democratic country run by Her Excellency President Ellen Johnson- Sirleaf; Africa`s first elected female head of state in 2005. The country is hugely prospective and hosts several world class iron ore deposits but yet is completely underexplored for gold and non-ferrous metals. Liberia has a modern and transparent mining code and the government is supportive of foreign investment especially in the exploration and mining industry to help unlock the value of its potential mineral wealth. Tawana is one of the first ASX listed junior companies into Liberia following in the footsteps of mining majors BHPBilliton, Arcelor-Mittal and Severstal. Liberia is located in West Africa dominantly within the Archean aged Kenema Man Domain and lesser Birimian sediments to the east. There are a large number of world class mineral deposits located in the Archean and Birimian rock types throughout West Africa including Obuasi (+40 Moz) and Tasiast (+18 Moz). West Africa is one of the fastest growing mineral provinces in the world and Liberia currently hosts several world class iron ore deposits and is underexplored for gold. For further information, please contact: Lennard Kolff van Oosterwijk Chief Executive Officer Competent Persons Statements The information in this report in so far that it relates to Liberian Project Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Lennard Kolff van Oosterwijk, who is a Member of the Australian Institute of Geoscientists included in a list promulgated by the ASX from time to time. Lennard Kolff van Oosterwijk is a full-time employee of the company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves`. Lennard Kolff van Oosterwijk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. 16 August 2011 PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 16/08/2011 10:14:01 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. 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