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TAW - Tawana Resources NL - Field Exploration Programs Underway Extensive

Release Date: 29/04/2011 17:20:01      Code(s): TAW
TAW - Tawana Resources NL - Field Exploration Programs Underway Extensive       
Gold Workings Confirmed and High Priority Targets Defined                       
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")                                                     
Field Exploration Programs Underway Extensive Gold Workings Confirmed and       
High Priority Targets Defined                                                   
HIGHLIGHTS                                                                      
-    Extensive artisanal gold workings confirmed on both licenses               
-    Nimba license alluvial workings occur in numerous streams draining high    
priority target defining a 30km long ridge                                  
-    Lofa license alluvial workings occur within a river draining a             
    greenstone belt within an adjacent license with similar settings and        
    reported extensive artisanal gold workings defining a high priority         
16km long ridge target within the Lofa license                              
-    Field work underway prior to onset of wet season; three teams              
    mobilised, field offices secured, communities and stakeholders engaged      
    and supportive of field programmes; 140 stream sediment samples             
collected to date                                                           
-    First pass soil traverses planned over high priority targets and to be     
    executed prior to onset of the wet season                                   
-    The Company continues to evaluate a number of potential project            
acquisition and farm-in opportunities in Liberia in its own right and       
    is also working closely with Gryphon on other highly prospective West       
    African opportunities                                                       
The Directors of Tawana Resources NL (ASX: TAW) are pleased to announce that    
field exploration programs on the Nimba and Lofa licenses have commenced.       
The Company has moved quickly to initiate field programs by recruiting and      
mobilising three field teams in conjunction with SEMS Exploration Services      
Ltd. Two exploration offices have been secured within the field areas and       
local communities and stakeholders engaged and informed on our planned          
activities.                                                                     
The Lofa Licence covers 596km2 and is along strike from the 1.52Moz New         
Liberty gold deposit and the Nimba Licence covers 995km2 and is adjacent to     
the 5.0Moz Ity gold mine. Both licences host highly prospective Archean         
greenstone belts that have had no modern day exploration and have confirmed     
artisanal workings.                                                             
The Company was unsuccessful in securing three of the five potential            
applications submitted and feedback on the remaining two applications is        
pending. The Nimba North application (478km2) is an extension of the            
geological features favourable to the Nimba license, hosts reported             
artisanal gold workings and provides operational synergies with Nimba. The      
Vaiidi Mountain application (986km2) hosts a significant package of folded      
and sheared greenstone and banded iron formations prospective for gold with     
reported artisanal gold workings.                                               
Nimba License                                                                   
Field work has progressed well since commencing end March 2011. Access          
roads, tracks and paths have been mapped, approximately 100 stream sediment     
samples collected and artisanal gold workings located and sampled within        
areas of current field activity.                                                
Numerous artisanal alluvial gold workings have been located and confirmed       
within streams draining a coincident topographic high, aeromagnetic high        
anomaly and favourable greenstone lithological and structural setting in the    
south of the Nimba license. This area defines a 30km strike length ridge and    
represents a high priority target for immediate follow up with wide spaced      
soil traverses and geological mapping.                                          
The Nimba license area is considered highly prospective for significant gold    
mineralisation:                                                                 
i.   Proximity to the Cestos Shear; a major scale crustal structure which       
    hosts the Ity Gold Mine (5Moz) and converges with the Syama-Morila gold     
    hosting shear structure                                                     
ii.  Proximity to the Ity Gold Mine (5Moz)                                      
iii. Structurally complex zone at contact between Archean Craton to the west    
    and Birimian belt to the east with inferred in-folding of Birimian aged     
    rocks into Archean Craton and emplacement of Palaeoproterozoic              
    granitoids into the folded rock package along major structures of the       
Cestos Shear                                                                
Lofa License                                                                    
Field work has progressed well since commencing during the first week of        
April 2011. All access roads, tracks and paths have been mapped,                
approximately 30 stream sediment samples collected and reports of artisanal     
gold workings confirmed in the south west of the license along the Kpo          
Range.                                                                          
Artisanal alluvial gold mining was located in the south of the Lofa license     
along a large river draining Shankil Resources Inc property within the          
central part of Tawana`s license. Sand and gravel dug by hand from the river    
bed by divers was screened, washed and panned on the river bank producing       
fine to medium grained gold. Reported hard rock mining of a gold bearing        
narrow quartz vein in Shankil`s property and cut by the same river is the       
likely source of this gold; further confirmed by the medium to fine grained     
nature of the gold recovered.                                                   
Similar greenstone and banded iron formation units that host this               
mineralisation occur along strike and slightly offset in the south-west of      
the Lofa license. This is also the area of reported gold workings further       
enhancing the target area.                                                      
Work Plan                                                                       
The south-west portion of the Lofa license will be targeted next with           
community and stakeholder liaison of the adjoining District a priority          
followed by ongoing stream sediment sampling and location of artisanal gold     
workings. Pending the results of the occurrence, distribution and continuity    
of artisanal gold workings, follow-up wide spaced soil traverses will be        
planned and executed prior to the onset of the wet season in June 2011.         
Other                                                                           
The Company continues to evaluate a number of potential project acquisitions    
and farm-in opportunities in Liberia in its own right and is also working       
closely with Gryphon on other highly prospective West African opportunities.    
The Company is currently reviewing potential acquisitions in Liberia and        
undertaking geological due diligence on the opportunities including site        
visits.                                                                         
The Company attended and presented at the first Liberian Mineral and Energy     
Conference (LIMEP) held between 11-13th April 2011 in Monrovia. The             
conference was well attended with over 300 delegates from a broad spectrum      
of mining, exploration and service provider industries active in Liberia.       
About Liberia                                                                   
Liberia is a democratic country run by Her Excellency President Ellen           
Johnson-Sirleaf; Africa`s first elected female head of state in 2005. The       
country is hugely prospective and hosts several world class iron ore            
deposits but yet is completely underexplored for gold and non-ferrous           
metals.  Liberia has a modern and transparent mining code and the government    
is supportive of foreign investment especially in the exploration and mining    
industry to help unlock the value of its potential mineral wealth. Tawana       
will be one of the first ASX listed junior companies into Liberia following     
in the footsteps of mining majors BHPBilliton, Arcelor-Mittal and Severstal.    
Liberia is located in West Africa dominantly within the Archean aged Kenema     
Man Domain and lesser Birimian sediments to the east.  There are a large        
number of world class mineral deposits located in the Archean and Birimian      
rock types throughout West Africa including Obuasi (40Moz+) and Tasiast         
(18Moz+). West Africa is one of the fastest growing mineral provinces in the    
world and Liberia currently hosts several world class iron ore deposits and     
is underexplored for gold.                                                      
For further information, please contact:                                        
Lennard Kolff van Oosterwijk                                                    
Chief Executive Officer                                                         
Competent Persons Statements                                                    
The information in this report in so far that it relates to Liberian Project    
Exploration Results, Mineral Resources or Ore Reserves is based on              
information compiled by Lennard Kolff van Oosterwijk, who is a Member of the    
Australian Institute of Geoscientists included in a list promulgated by the     
ASX from time to time. Lennard Kolff van Oosterwijk is a full-time employee     
of the company and has sufficient experience which is relevant to the style     
of mineralisation and type of deposit under consideration and to the            
activity which he is undertaking to qualify as a Competent Person as defined    
in the 2004 Edition of the `Australasian Code for Reporting of Exploration      
Results, Mineral Resources and Ore Reserves`. Lennard Kolff van Oosterwijk      
consents to the inclusion in the report of the matters based on his             
information in the form and context in which it appears.                        
29 April 2011                                                                   
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 29/04/2011 17:20:01 Supplied by www.sharenet.co.za                     
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