Merger Update 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”) Merger Update Tawana Resources NL (ASX:TAW) (Tawana or the Company) is pleased to provide the following update on the proposed merger of equals (Merger) between Tawana and Alliance Mineral Assets Limited (SGX: 40F) (Alliance) as announced on 5 April 2018, whereby, subject to all necessary approvals, Alliance will acquire all of the issued shares of Tawana for consideration of 1.10 Alliance Shares per Tawana share (Scheme): - Alliance has received a ‘no objection’ ruling from the Singapore Exchange Securities Trading Limited (SGX-ST) in response to its application for a waiver from compliance with Catalist Rule 1015 in respect to the proposed Merger (Waiver). The Waiver results in a more streamlined timetable for the Merger with the result that Tawana and Alliance are now working towards the following indicative timetable: Lodge Scheme Booklet with ASIC 2 July 2018 First Court hearing date 20 July 2018 Printing and despatch of Scheme Booklet 24 July 2018 Alliance shareholder meeting 21 August 2018 Scheme Meeting of Tawana shareholders 23 August 2018 Second Court hearing date 29 August 2018 Lodge Court order with ASIC 30 August 2018 Record Date 6 September 2018 Implementation Date 13 September 2018 Alliance listing on ASX Official List 14 September 2018 *This timetable remains indicative only, and is subject to change (including in relation to Court dates). - Alliance has received a notice of “no objection” to the Merger from the Australian Treasurer. This satisfies the “FIRB approval” condition in the Scheme Implementation Agreement between Tawana and Alliance. - Tawana is currently preparing the Scheme Booklet, which is expected to be provided for ASIC review near the start of July 2018 and be available for despatch to Tawana shareholders in late July 2018. - Alliance’s general meeting to approve the A$7.8m placement to Burwill Holdings Ltd, an existing substantial shareholder of Alliance, is scheduled for 25 June 2018. - Tawana released the Notice of Meeting regarding the demerger of its noncore assets into Cowan Lithium Limited on 1 June 2018, with the meeting to approve the proposed demerger being scheduled for 6 July 2018. For further information please contact +61 8 9489 2600. 12 June 2018 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 12/06/2018 08:40:00 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.