TAWANA RESOURCES NL - Tawana Board and Executive Management Changes

Tawana Board and Executive Management Changes

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”)

Tawana Board & Executive Management Changes

Tawana Resources NL (ASX:TAW) would like to announce that as part of its continuing
focus on the development of the Mofe Creek Project, the following Board and Executive
Management changes have been implemented:

- Mr Wayne Richards will step in as the Chief Executive Officer and remain the Executive
  Chairman of Tawana Resources NL.

- Mr Len Kolff will become Technical Director, stepping down from the role of Managing
  Director. Mr Kolff will remain an Executive Director of the Board of Tawana Resources NL
  and any relevant subsidiary companies.

- Mr Matthew Bowles has resigned from the Board in order to focus on other business
  commitments. Mr Bowles has been a valuable member of the Board for over three years
  and the Board acknowledges his involvement and commitment during that time.

- In conjunction with Mr Bowles’ resignation, current Tawana Chief Financial Officer and
  Company Secretary, Mr Michael Naylor will accept the role as Executive Director of the
  Board of Tawana Resources NL.

Mr Naylor has 18 years’ experience in corporate advisory and public company management.
Mr Naylor has previously worked as a Finance Director and Company Secretary of ASX
listed Dragon Mining Limited; Chief Executive Officer and Managing Director of dual
ASX/TSX-V listed Coventry Resources Inc. and is concurrently the Chief Financial Officer of
Gryphon Minerals Limited.

All changes will take effect from 01 January 2015.

Tawana Executive Chairman, Mr Wayne Richards paid tribute to Mr Bowles’ contributions to
the Board: “We wish Matthew all the best in his future endeavours and thank him for his
valuable contribution to the Board. We are also delighted that Michael will continue in his
current CFO role whilst providing advice to the Board as required.”

Mr Richards said “These changes are representative of the ongoing evolution of the
composition of the Board and Executive team as we move into the next phase of the
development of the Mofe Creek Project.”

In response to the Board and executive management changes and the current market
conditions, the Company is considering a new remuneration structure. The Board has
committed to review the remuneration structure of Mr Wayne Richards, in
consideration of his increased role and levels of responsibilities as CEO and Executive
Chairman. In the interim, Mr Wayne Richards has agreed to cancel his current Class B
and Class C performance options.

For further information, contact:

Wayne Richards
Executive Chairman
Ph: +61 8 9489 2600

11 December 2014

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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