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TAW - Tawana Resources NL - Completion of rights issue - shortfall notice

Release Date: 03/04/2008 08:46:01      Code(s): TAW
TAW - Tawana Resources NL - Completion of rights issue - shortfall notice       
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")                                                     
Completion of Rights Issue - Shortfall Notice                                   
Tawana Resources advises that it has completed a renounceable rights issue,     
raising A$538,650 (Approximately Rand 4 Million) before costs. The proceeds of  
the Rights Issue provides additional working capital to fund the Company`s      
projects which include trial mining at Kareevlei Wes and an assessment of the   
Tawana Alluvials and St Augustines Projects in South Africa.                    
Tawana announced a one for four renounceable rights issue to shareholders on 20 
February 2008. The Rights Issue, which closed on 28 March 2008, entitled        
shareholders to subscribe for one new share, at a price of A$0.08 per share,    
plus one option exercisable at A$0.10 on or before 1 April 2011.                
The rights issue resulted in a 29% take up by its shareholders. The Directors   
reserve the right to place the 71% shortfall within the next three months in    
accordance with ASX listing rules.                                              
Directors of Tawana are pleased to receive the support of the Shareholders who  
participated in the rights issue and thank them for their ongoing loyalty to the
Company.                                                                        
Contact:                                                                        
Wolf Marx                                                                       
Tel: +61 (0)3 98635222                                                          
Mob: +61 (0)428 398446                                                          
Email:wolf.marx@tawana.com.au                                                   
3 April 2008                                                                    
Sponsor to TawanaPricewaterhouseCoopers Corporate Finance (Pty) Ltd             
Date: 03/04/2008 08:46:01 Supplied by www.sharenet.co.za                     
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