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Tawana - Change Of Auditor And Correction

Release Date: 04/04/2006 09:05:20      Code(s): TAW
Tawana - Change Of Auditor And Correction                                       
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")                                                     
CHANGE OF AUDITOR AND CORRECTION                                                
Tawana has resolved, subject to shareholder approval, to change its auditor at  
its next Annual General Meeting which is scheduled in May 2006.                 
Mr Frank Spencer was a partner of PKF Chartered Accountants from 1 September    
2003 to 31 December 2005, when he retired. Immediately prior to joining PKF, Mr 
Spencer was a partner of Spencer & Co Chartered Accountants ("Spencer & Co"),   
who were previously the auditors of Tawana.  Mr Spencer joined PKF as a partner 
following the merger of Spencer & Co with PKF on 1 September 2003, and Spencer &
Co ceased its audit activities from that date.                                  
Subsequent to the above merger, whilst Mr Frank Spencer was a partner with PKF, 
the audit reports of Tawana for the years ended 31 December 2003 and 31 December
2004, and the audit review reports for Tawana"s half year financial reports     
ended 30 June 2003 and 30 June 2004, were signed by PKF.  However, this was due 
to a misinterpretation of the requirements of the Corporations Act.  In         
accordance with the Corporations Act, Mr Frank Spencer continued as the auditor 
of Tawana from 1 September 2003 in a personal appointment capacity and should   
have signed the audit and audit review reports for these periods in his capacity
as auditor of Tawana.                                                           
This was corrected by Tawana for the June 2005 half year financial report and   
the year end financial report for 31 December 2005                              
As a consequence of the above, Tawana advises that the "Notice under section    
708A(6) of the Corporations Act" released to ASX on 16 December 2006 was        
defective as technically the Company has not complied with the provisions of    
Chapter 2M.                                                                     
Notwithstanding this misinterpretation, the audited and audit review accounts of
Tawana for the above mentioned respective periods are otherwise accurate and    
comply with all necessary legal and financial reporting requirements.           
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                                               
All press releases and announcements may be inspected on the Company"s web site,
namely: www.tawana.com.au                                                       
4 April 2006                                                                    
PricewaterhouseCoopers Corporate Finance (Pty) Limited                          
Date: 04/04/2006 09:05:28 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                                             

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