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Tawana Resources NL - Company Announcement

Release Date: 16/03/2006 10:01:01      Code(s): TAW
Tawana Resources NL - Company Announcement                                      
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")                                                     
16 March 2006                                                                   
Company Update                                                                  
Positive results reported from Pilbara exploration samples.                     
Results indicate presence of new kimberlite.                                    
Melbourne Laboratory building sold for $1.87M with lease-back terms.            
Pilbara Project                                                                 
(Tawana 50%, De Beers Australia 50%)                                            
Tawana Diamonds Australia Limited (TDAL) is the company formed jointly by De    
Beers and Tawana to explore and develop Australian diamond projects. This       
Company is managed by Tawana.                                                   
As previously reported, a helicopter supported sampling program was completed   
during Q4 2005 during which 304 samples were collected over areas in which      
previous De Beers sampling had identified kimberlitic indicator mineral         
anomalies. These samples are being processed and examined in the Company"s      
Melbourne Laboratory.                                                           
Initial results have been very encouraging. Kimberlitic indicator minerals have 
been recovered from two discrete areas. In the one area a microdiamond was      
recovered from a sample containing kimberlitic minerals, which are interpreted  
as being derived from a kimberlite close to the sample site. This is an         
excellent result for such an early stage of the exploration program, which is   
focused on an area some 40km from the Blacktop project area.                    
The DMS plant hired for processing the proposed bulk samples of the Blacktop    
kimberlite is being prepared for transport to site. This will be done as soon as
statutory approvals have been granted and the dry season has commenced.         
Melbourne Laboratory                                                            
During December 2005 the De Beers diamond laboratory in Melbourne was acquired  
by Tawana. In March 2006 the building containing the laboratory was sold with a 
long term lease-back agreement. The proceeds of this sale, being approximately  
$1.9M, will be used to support the funding of the Company"s exploration and     
development programs. The laboratory is now fully operational, and while        
primarily concentrating on the Company"s sample determinations, there is also   
capacity to handle third party work.                                            
For enquires contact:                                                           
Wolf Marx                                                                       
Tel: +61 3 99097551                                                             
Mob: 0428 398446                                                                
Andrew Smith                                                                    
Tel: 08 82768794                                                                
Mob: 0428 265205                                                                
Email: andrew.smith@tawana.com.au                                               
This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM,     
CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience   
relevant to the style of mineralisation and types of deposits under             
consideration, and to the activities undertaken, to qualify as a competent      
person as defined in the 2004 addition of the "Australasian Code for the        
Reporting of Mineral Resources and Ore Reserves"                                
All press releases and announcements may be inspected on the Company"s web site,
namely: www.tawana.com.au                                                       
PricewaterhouseCoopers Corporate Finance (Pty) Limited                          
Date: 16/03/2006 10:01:05 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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