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Tawana - Placement

Release Date: 12/12/2005 09:22:20      Code(s): TAW
Tawana - Placement                                                              
Tawana Resources NL                                                             
(Incorporated in Australia)                                                     
(Registration number ACN 085 166 721)                                           
Share code on the JSE Limited: TAW    ISIN: AU000000TAW7                        
Share code on the Australian Stock Exchange Limited: TAW    ISIN: AU000000TAW7  
("Tawana" or "the Company")                                                     
PLACEMENT                                                                       
Placement                                                                       
Tawana Resources NL placed 3,712,985 shares, at A$0.60 a share, to institutional
and sophisticated investors raising A$2,227,791. Funds will be applied to       
continuation of the Company"s exploration and development programs, with        
particular focus on taking the Company to diamond mining producer status.       
Specific activities are outlined below.                                         
The shares were placed to clients of Intersuisse Corporate Pty Ltd, which will  
receive a fee of 6% for managing and arranging the placement.                   
The placement is within the limits set out in the ASX Listing Rules and does not
require shareholder approval. Following allotment of the placement shares the   
Company will have a total of 65,573,029 shares on issue.                        
Purpose of raising                                                              
South Africa                                                                    
-    complete processing of the bulk samples from the Kareevlei Wes Project ,   
     and definition drilling of the KV1 and KV2 kimberlites as a precursor to   
final feasibility and production during 2006.                              
-    complete the assessment of the kimberlites discovered in the Daniel        
     Kimberlite Project.                                                        
-    continue the trial mining of the Eastern Gravels.                          
Australia                                                                       
-    fast track detailed bulk sampling and further definition drilling of the   
     Blacktop kimberlite in the Pilbara Project.                                
-    complete the purchase of the De Beers laboratory.                          
Trading in shares                                                               
The directors of Tawana advise that trade in Tawana shares will commence this   
morning.                                                                        
For enquires contact:                                                           
Wolf Marx                Andrew Smith                                           
Tel: +61 3 99097551      Tel: 08 82768794                                       
Mob: 0428 398446         Mob: 0428 65205                                        
wolf.marx@tawana.com.au       ahs.taw@bigpond.net.au                            
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Proprietary) Limited                  
All press releases and announcements may be inspected on the Company"s web site,
namely: www.tawana.com.au                                                       
12 December 2005                                                                
Date: 12/12/2005 09:22:24 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             
                                                                                
                                                                                
                                                                                



                                        
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