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) is pleased to provide the following update in relation to the merger between Alliance Mineral Assets Limited (Alliance) (SGX:40F) and Tawana to be implemented by way of a scheme of arrangement under the Corporations Act 2001 (Cth) (Corporations Act) (Merger). As announced by Tawana on 31 October 2018, the $40 million secured funding package is expected to assist with facilitating the ASX listing of Alliance in connection with the Merger. Tawana and Alliance have also previously confirmed their commitment to pursue the ASX listing of Alliance following the Merger (see ASX announcement on 27 September 2018; SGX announcement on 28 September 2018). Accordingly, Tawana and Alliance have agreed to reinstate the condition precedent to the Merger that Alliance be admitted to the Official List of the ASX (ASX Listing Condition). The reinstatement of the ASX Listing Condition means that the Merger will only proceed if Alliance is admitted to the Official List of the ASX. Consequently, if the Merger is approved by the Federal Court and by the requisite majorities of Tawana shareholders, then the merged Alliance and Tawana group will be listed on ASX and Tawana shareholders will receive ASX-listed Alliance shares (unless otherwise elected to receive SGX-ST listed shares) in exchange for their Tawana shares under the Merger. The updated indicative timetable for the Merger is as follows: Federal Court Hearing to approve Thursday 8 November 2018 Supplementary Scheme Booklet Supplementary Scheme Booklet dispatched Monday 12 November 2018 to shareholders Tawana Scheme Meeting Tuesday 27 November 2018 Second Court Hearing to approve Scheme Monday 3 December 2018 Effective Date Tuesday 4 December 2018 Suspension of trading in Tawana shares on ASX (close of trading) AMAL admitted to ASX and AMAL shares Wednesday 5 December 2018 commence trading on a deferred settlement basis Record Date Friday 7 December 2018 Implementation Date Friday 14 December 2018 Last day of AMAL shares trading on ASX on a Friday 14 December 2018 deferred settlement basis AMAL shares commence trading on ASX on a Monday 17 December 2018 normal settlement basis 07 November 2018 Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd Date: 07/11/2018 09:01:00 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.