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TAW - Tawana Resources NL - Placement

Release Date: 16/03/2011 09:55:00      Code(s): TAW
TAW - Tawana Resources NL - Placement                                           
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")                                                     
Placement                                                                       
Tawana Resources NL (ASX: TAW) is pleased to announce that it has appointed BGF 
Equities as Lead Manager in the placement of 100 million shares at 4.5Cents     
(USD) per share, to raise $4.5m before costs, pursuant to the placement facility
recently approved by shareholders in general meeting.                           
BGF Equities has advised the Company that it has received firm commitments and  
settlement and issue of the new shares is expected towards the middle of next   
week.                                                                           
Funds raised by the placement will be used primarily to advance exploration     
activities in Liberia, to fund initial drilling on targets defined and as       
working capital for Tawana`s West African growth plans.                         
Further Information;                                                            
Warwick Grigor                                                                  
Chairman                                                                        
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
16 March 2011                                                                   
Date: 16/03/2011 09:55:00 Supplied by www.sharenet.co.za                     
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