Notification of Consolidation/Split 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 (“the Company” or “Tawana”) Notification of Consolidation/Split Applicable to ASX ONLY Announcement Summary Entity name TAWANA RESOURCES NL Applicable security for the reorganisation TAW ORDINARY FULLY PAID TAWAQ OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES Announcement Type New Announcement Date of this announcement Wednesday March 16, 2016 Reorganisation type Security consolidation Effective Date Wednesday April 13, 2016 Record Date Thursday April 14, 2016 Issue Date Thursday April 21, 2016 Refer to below for full details of the announcement Announcement Details Part 1 - Entity and announcement details 1.1 *Name of +Entity TAWANA RESOURCES NL Registration Number 1.2 *Registered Number Type ABN 69085166721 1.3 *ASX issuer code TAW 1.4 *The announcement is New announcement 1.5 *Date of this announcement Wednesday March 16, 2016 1.6 *Securities affected by the reorganisation TAW ORDINARY FULLY PAID TAWAQ OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES Part 2 – Approvals 2.1 *Are any of the below approvals required for the reorganisation before business day 0 of the timetable? - Security holder approval - Court approval - Lodgement of court order with +ASIC - ACCC approval - FIRB approval - Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation. Yes 2.2 Approvals Approval/Condition Date for Is the date estimated **Approval +Security holder determination or actual? received/condition approval Friday April 8, 2016 Actual met? [Select...] Comments Part 3 - Reorganisation timetable and details 3.1 *+Record date Thursday April 14, 2016 3.2 Date of +security holder meeting Friday April 8, 2016 3.3 Last day for trading in the pre-re-organised +securities Tuesday April 12, 2016 3.4 *Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date. Wednesday April 13, 2016 3.5 Record date Thursday April 14, 2016 3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis Friday April 15, 2016 3.7 *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis Thursday April 21, 2016 3.8 Trading starts on a normal T+2 basis Friday April 22, 2016 3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis Wednesday April 27, 2016 Part 4 - Reorganisation type and details 4.1 *The reorganisation is +Security consolidation 4.1a *Consolidation ratio: the +securities will be consolidated on the basis that every 20 (pre-consolidation) +securities will be consolidated into 1 (post-consolidation) +security (/ies). 4.2 *Scrip fraction rounding Fractions rounded up to the next whole number 5.1 *+Securities on issue before and after the reorganisation *ASX +Security Code *ASX +Security TAW Description ORDINARY FULLY PAID Quoted/unquoted Number on issue Number on issue Estimate/Actual Quoted before reorganisation after reorganisation Estimated 1,475,250,387 73,762,519 *ASX +Security Code *ASX +Security TAWAQ Description OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES Quoted/unquoted Number on issue Number on issue Estimate/Actual Unquoted before reorganisation after reorganisation Actual 22,500,000 1,125,000 5.2 *Exercise price of options *ASX +Security Code *ASX +Security Description TAWAQ OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES Quoted/unquoted Exercise price before Exercise price after Unquoted reorganisation reorganisation AUD 0.00000000 AUD 0.00000000 Part 6 - Further information 6.1 Further information relating to the reorganisation 6.2 Additional information for inclusion in the Announcement Summary 16 March 2016 Sponsor: PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 16/03/2016 11:06:00 Produced by the JSE SENS Department. 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