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TAW - Tawana Resources NL - Expiry of listed options and notice of initial

Release Date: 09/03/2011 11:07:01      Code(s): TAW
TAW - Tawana Resources NL - Expiry of listed options and notice of initial      
substantial holder                                                              
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")                                                     
Expiry of listed options and notice of initial substantial holder               
Tawana Resources NL (ASX: TAW) advises that the listed stream of options over   
shares in the Company (ASX: TAWOA) ("Options") expire on 1 April 2011.          
The Company further advises that it will not, unless the fully paid ordinary    
shares in the Company trade on ASX at 7.5 cents or above before the expiry date,
be sending notification of the expiry of the Options to individual Option       
holders.                                                                        
The following information is provided in accordance with the Listing Rules of   
ASX;                                                                            
Exercise price of the Options - 10 cents.                                       
Expiry Date of the Options - 1 April 2011.                                      
Each Option converts to one fully paid ordinary share if exercised.             
Should Option holders wish to exercise their Options they should return an      
exercise notice along with the relevant exercise monies to the Company`s share  
registry so that it is received before 5pm EST on 1 April 2011.                 
Any Option not exercised on or before the expiry date will lapse and all rights 
under the Option will cease at that time.                                       
The Options will cease trading on ASX at the close of trading on 25 March 2011  
The last trade on ASX of the fully paid ordinary shares in Tawana Resources NL  
was 5.1 cents on 8 March 2011 and the last trade on ASX of the Options was 0.5  
cents on 20 January 2011.                                                       
During the three months preceding the date of this notice the highest market    
sale price of ordinary shares on ASX was 5.7 cents on 4 and 7 March 2011 and the
lowest market sale price of ordinary shares on ASX was 4.0 cents on 31 January  
2011.                                                                           
During the three months preceding the date of this notice the Options traded    
four times. Each trade was at 0.5 cents.                                        
Shareholders attention is also brought to FORM 603, relating to a notice of     
initial substantial holder. A pdf version of this form can be found on the      
Tawana website.                                                                 
For further information please contact;                                         
Winton Willesee                                                                 
Joint Company Secretary                                                         
Tawana Resources NL                                                             
9 March 2011                                                                    
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 09/03/2011 11:07:01 Supplied by www.sharenet.co.za                     
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