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TAW - Tawana Resources NL - South Africa - New Diamond Project

Release Date: 18/04/2007 09:12:02      Code(s): TAW
TAW - Tawana Resources NL - South Africa - New Diamond Project                  
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")                                                     
South Africa - New Diamond Project                                              
Key Points                                                                      
- Lexshell Diamond Project                                                      
- Tawana/Guma 50:50 contributory new project Joint Venture                      
- Tawana operator as explorer/miner with Guma                                   
- Lexshell alluvial diamond project in legendary Vaal River system              
Lexshell Diamond Project                                                        
(Tawana 44% and operator /Guma Resources 44%/ Lexshell 12% revenue share)       
Tawana has entered into a joint venture with its strategic alliance partner,    
Guma Resources Pty Limited, to explore and mine under contract the Lexshell     
alluvial diamond project in the Northern Cape Province of South Africa. The     
project is located on a palaeo-channel of the Vaal River adjacent to established
alluvial diamond mines.                                                         
The project is held under a Mining Right by Lexshell 366 Mining (Pty) Limited   
("the Holder"). Tawana/Guma have jointly entered into a Contractor`s Agreement  
with the Holder which will enable Tawana to assess the economic potential of the
deposit and if warranted mine the diamonds on behalf of the joint venture       
partners. Costs will be shared on a 50:50 basis with Guma. The Holder will      
retain a 12% share of revenue after State royalties and cost of sales.          
The section of the Vaal River alluvials in which this project is located is     
noted for the prolific production of large high quality diamonds. Mining has    
taken place here for about 100 years and the area still hosts one of the largest
alluvial diamond mines in the world.                                            
Tawana will commence work on the assessment of the deposit once certain         
statutory requirements have been completed by the Holder.                       
Commenting on the development, Tawana Managing Director Wolf Marx said, "I am   
delighted that we have been offered the opportunity to participate in the       
Lexshell Project, which holds promise for early positive cash flow. It is       
pleasing to move into the first active project with our strategic alliance      
partners, Guma, and I look forward to further new project opportunities in the  
near future."                                                                   
Contact:                                                                        
Wolf Marx                                                                       
Tel: +61 3 98635222                                                             
Mob: 0428 398446                                                                
Email:wolf.marx@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 edition 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                                                       
18 April 2007                                                                   
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 18/04/2007 09:12:02 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  



                                        
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