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TAW - Tawana Resources NL - CEO Appointment

Release Date: 02/06/2010 11:00:40      Code(s): TAW
TAW - Tawana Resources NL - CEO Appointment                                     
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")                                                     
CEO Appointment                                                                 
Tawana Resources NL (ASX:TAW) is pleased to announce that it has appointed Mr.  
Lennard Kolff van Oosterwijk as Chief Executive Officer.                        
Len joins Tawana having worked over the past decade at Rio Tinto, where he was  
involved in a range of high profile projects including the Simandou iron ore    
project and the Northparkes Cu-Au mine.                                         
Len`s responsibilities have encompassed a broad range of disciplines, including 
the design, implementation and supervision of multi-commodity exploration and   
pre-feasibility study resource drilling programs, management of geological teams
and collaboration with the mine planning and development functions of major     
project teams.                                                                  
Tawana is delighted to have attracted an executive of the calibre of Len Kolff, 
whose skills and global experience are ideal for Tawana`s next phase of growth. 
Len will be integral in the evaluation and review of potential new project      
opportunities.                                                                  
For further information, please contact:                                        
Julian Babarczy                                                                 
Director                                                                        
+61 408 566 191                                                                 
2 June 2010                                                                     
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Details of CEO Remuneration                                                     
In accordance with ASX guidelines requiring listed entities to disclose the     
relevant terms of the CEO`s remuneration, Tawana reports the following relevant 
terms of its employment agreement with Mr. Len Kolff.                           
Duration of       2 years or longer as agreed between the                   
    Contract          parties                                                   
    Services          Those services usually required of a                      
                      CEO of a company the size and nature of                   
Tawana                                                    
    Remuneration      $190,000 per annum plus superannuation,                   
                      and                                                       
                      5 million options with $0.03 strike                       
price and 2 year duration, and                            
                      5 million options with $0.05 strike                       
                      price and 4 year duration                                 
    Performance       $25,000 cash bonus should both of the                     
Related           following occur with the 1st year of                      
                      Len Kolff`s employment;                                   
                      Tawana shares trade at $0.05 for a                        
                      minimum of 30 consecutive days, and                       
Tawana raises a minimum of $3million                      
                      via a capital raising                                     
    Termination       The agreement provides that the                           
                      employment of Len Kolff can be                            
terminated by either party giving 3                       
                      months notice.  No termination payments                   
                      are payable except in the event that                      
                      Tawana is the subject of a successful                     
takeover and where Len Kolff                              
                      subsequently does not agree to ongoing                    
                      employment.  In this instance Len Kolff                   
                      is entitled to a termination payment                      
equal to 3 months salary.                                 
Date: 02/06/2010 11:00:39 Supplied by www.sharenet.co.za                     
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