TAWANA RESOURCES NL - Appointment of CEO

Appointment of CEO

Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
JSE ISIN: AU0000TAWDA9
Share code on the Australian Securities Exchange Limited: TAW
ASX ISIN: AU000000TAW7
(“the Company” or “Tawana”)

APPOINTMENT OF CEO

Further to the ASX announcement of 11 July 2016, Tawana Resources NL (“Tawana” or the
“Company”) is pleased to announce that Mark Calderwood has commenced as the Chief Executive
Officer (“CEO”) of the Company. He has extensive experience in mineral exploration and production
management, is an authority on pegmatites and was a co-author of the ‘Pegmatites of Western
Australia”. Mr Calderwood was CEO of Perseus Mining Limited for 9 years and is currently non-
executive director of three junior gold explorers.

In accordance with ASX Listing Rule 3.16.4, the terms of his remuneration and employment are as
follows:
     - Term: Mr Calderwood is appointed as CEO for an initial 12 month term commencing on 11
       July 2016.
     - Base Salary: Mr Calderwood will be paid a base salary during his term as CEO of A$200,000
       inclusive of superannuation.
     - Long Term Incentive Plans: Mr Calderwood’s will be issued 3,000,000 employee incentive
       options which have an exercise price of $0.06 per option, expiry date of 30 June 2019 and
       will vest with continued employment to 11 January 2017. These will be issued under the
       Tawana Resources Group Employee Incentive Plan which was approved by shareholders on
       26 May 2015.
     - Short Term Incentives: Mr Calderwood’s will be entitled to earn up to $60,000 in short term
       incentives based on milestones established by the board of directors.
     - Termination and Notice: Termination other than for cause may be by Mr Calderwood by
       giving the Company 6 weeks’ notice. Termination other than for cause may be by the
       Company by giving Mr Calderwood 3 months’ notice. The Company may make a payment in
       lieu of notice based on Mr Calderwood’s base salary at the date of termination plus
       statutory leave entitlements.

For and on behalf of the Board


Michael Naylor
Company Secretary

13 July 2016
Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

Date: 13/07/2016 09:45:00 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.