Strategic Review and Market Update 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”) COMPANY HIGHLIGHTS -New Iron ore Discovery – Liberia, West Africa. >500Mt Exploration target* - Experienced Board and Management Mofe Creek Iron Ore Project, Liberia - High grade +40 to +60% Fe; 65 km prospective strike - 20km to coast, adjacent to rail alignment 65km to port - 25km along strike from +50 Mt historic Bomi Hills DSO mine Sinoe Gold Project, Liberia - Highly prospective Birimian gold structures on Dugbe shear - Along strike from 3.8Moz Dugbe gold project Rakana JV (6.7%), South Africa Meletse Iron Ore and Avontuur Manganese JV managed by Aquila Resources Strategic Review and Market Update Tawana Resources NL (ASX: TAW) is pleased to announce that it is undertaking a strategic review of potential financing and strategic partnership options to advance the development of the Mofe Creek Iron Ore Project, Liberia (Mofe Creek). The Company is undertaking this review as a result of approaches to the Company regarding its intentions for the funding and development of its Mofe Creek Project. The Board feels it is important to explore all potential funding and development scenarios with the aim of maximising shareholder returns. The Company also wishes to announce the resignation of its Chairman, David Frances. Mr Frances commented “I look forward to seeing the development of the exciting Mofe Creek iron ore project in the future, and wish the Company and management every success”. The Company believes the current structure of the Board is suitable for the current situation and does not propose to immediately appoint a replacement to the Board. The Company shall continue to keep the market updated in relation to any material developments. For further information please contact; Len Kolff Managing Director CORPORATE DIRECTORY David J Frances Len Kolff Executive Chairman Managing Director Julian Babarczy Matthew Bowles Non-Executive Director Non-Executive Director Winton Willesee /Aaron Finlay Joint Company Secretary CONTACT DETAILS Freemason’s House 181 Roberts Road Subiaco WA 6008 Email: admin@tawana.com.au Website: www.tawana.com.au Phone: +61 8 9389 3140 Facsimile: +61 8 9287 4334 6 May 2013 Sponsor PricewaterhouseCoopers Corporate Finance ( Pty) Ltd Date: 06/05/2013 08:45:00 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.