TAWANA RESOURCES NL - Third offtake prepayment received and lifting of trading halt

Third offtake prepayment received and lifting of trading halt

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”)

Third offtake prepayment received and lifting of trading halt

Tawana Resources NL (ASX: TAW) (Tawana) is pleased to announce that Lithco No.
2 Pty Ltd (Lithco), a 100% owned subsidiary of Tawana, has received the third
payment of A$4,375,000 in accordance with the lithium concentrate offtake
agreement (refer to ASX announcement of 26 April 2017) from a subsidiary of
Burwill Holdings Ltd (Burwill), a company listed on the Main Board of The Stock
Exchange of Hong Kong Limited (stock code 0024).

The full A$12,500,000 prepayment committed by Burwill has now been received by
Lithco. The terms of the prepayment are:
    - The funds are to be used towards the capital and operational costs in
      respect of the Bald Hill Lithium and Tantalum Mine (“Project”).
    - The prepayment is interest free and to be repaid from 20% of each lithium
        concentrate shipment until the prepayment has been repaid.

The Project is owned by Singapore Exchange-listed Alliance Mineral Assets Limited
(AMAL), with Lithco holding a 50% interest in all lithium rights in the Project
tenements pursuant to the Lithium Rights Joint Venture Agreement entered into
between the parties. Lithco also holds a right to earn a 50% interest in the Project
including the existing infrastructure and the mineral rights to all minerals from the
tenements (including tantalum rights) through the expenditure of A$12.5m on
development and operating costs. Beyond the $12.5m earn-in, each party is
required to fund their respective 50% share of funding in accordance with Work
Programs and Budgets to be approved by a newly formed Joint Venture Committee.


For further information please contact:

Mark Calderwood
Managing Director
Tawana Resources NL
Telephone +61 8 9489 2600



20 September 2017

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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