Farm-in agreement finalised 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”) Farm-In agreement finalised Tawana Resources NL (“Tawana” or the “Company”) is pleased to advise that Lithco No. 2 Pty Ltd, a 100% owned subsidiary of Tawana and Singapore Exchange Listed Alliance Mineral Assets Limited (AMA) (collectively, the “Parties”) have on 23 February 2017 finalised the farm-in agreement (“Farm-in Agreement”) with respect to the Bald Hill Lithium and Tantalum Project (“Project”) in Western Australia for the purpose of joint exploration and exploitation of lithium and other minerals. The Farm-in Agreement is in line with the Binding Terms Sheet which requires Tawana: 1. to spend, by 31 December 2017 (or such later date as may be agreed between the parties), a minimum of $7.5 million on exploration, evaluation and feasibility (including administrative and other overhead costs in relation thereto) (“Expenditure Commitment”); and 2. to spend, by 31 December 2019 (which is a new commitment by Tawana from the Binding Term Sheet), $12.5 million in capital expenditure required for upgrading and converting the plant for processing ore derived from the Project, infrastructure costs, pre-stripping activities and other expenditures including operating costs (“Capital Expenditure”). Upon completion of the Expenditure Commitment, Tawana shall be entitled to 50% of all rights to lithium minerals from the tenements comprising the Project (“Tenements”). Upon completion of the Expenditure Commitment and Capital Expenditure, Tawana will be entitled to a 50% interest in the Project (being all minerals from the tenements and the processing plant and infrastructure at Bald Hill). Managing Director Mark Calderwood stated: “We continue to work very closely with our Joint Venture Partners, Alliance Mineral Assets, as we continue to work together to become a spodumene producer in 2017.” About Tawana (ASX & JSE: TAW) Tawana Resources NL, is focussed on becoming a spodumene producer in 2017 with its high- quality lithium projects in Western Australia and Namibia. Tawana’s principal projects are the Bald Hill Lithium and Tantalum Mine (earning a 50% interest) and the surrounding and adjacent Cowan Lithium Project. The projects have numerous high quality spodumene-rich pegmatites, some of which have been historically mined and processed for tantalum at the existing Bald Hill processing facility. The Company also owns rights to the giant Uis pegmatite tailings stockpile in Namibia, estimated to be 20 million tonnes. Drilling has been completed confirming the presence of lithium. Metallurgical test work to confirm acceptable recoverable grades has commenced and if favourable, there is potential for a low capex/opex operation. The Company also owns the Mofe Creek Iron Ore Project in coastal Liberia. The deposits are characterised by exceptionally coarse grained, high-grade free-dig, itabirite that have the potential to deliver a premium, low cost product. The Company is completing a Mineral Development Agreement (“MDA”) with the Government of Liberia and is considering initially collaborating with owners of the under-utilized port of Monrovia or others with a desire to develop a low capital cost DSO operation. 24 February 2017 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 24/02/2017 09:52:00 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.