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TAW - Tawana Resources NL - Acquisition of Additional Highly Prospective Ground

Release Date: 13/07/2011 09:58:22      Code(s): TAW
TAW - Tawana Resources NL - Acquisition of Additional Highly Prospective Ground 
in Liberia                                                                      
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")                                                     
Acquisition of Additional Highly Prospective Ground in Liberia                  
-    Tawana has secured binding  exclusivity and exclusive rights to due        
    diligence on a significant, highly prospective Birimian land package in     
    Sinoe County, South-Eastern Liberia referred to as the Sinoe Project.       
-    The Sinoe Project area covers 400km2 within arguably one of the most       
    prospective Birimian gold structures currently being explored in Liberia;   
    the Dugbe Shear.                                                            
-    There are extensive alluvial and hard rock workings within the licence area
which has seen no modern day exploration.                                   
-    The Sinoe Project area is 20km along strike from Hummingbirds (AIM:HBR)    
    Dugbe Resource (0.8Moz) and 40km along strike from NT Resources (ASX:NTR)   
    Bukon Jedeh advanced exploration project.                                   
-    Ongoing geochemical sampling and mapping at Lofa and Nimba has identified  
    additional artisanal workings within the Nimba licence and younger hematite 
    dusted porphyritic granites. Full assay results are expected late August.   
-    A highly experienced Senior Geologist has been recruited to manage field   
exploration activities in Liberia as well as target generation and due      
    diligence on prospective opportunities both in Liberia and throughout West  
The Directors of Tawana Resources NL (ASX: TAW) are pleased to announce the     
acquisition, pending successful due diligence of a highly prospective land      
package in Sinoe County, south-eastern Liberia referred to as the Sinoe Project.
This represents Tawana`s ongoing commitment to future growth.                   
The mineral exploration licence covers 400km2 of Birimian aged rocks along      
arguably the most prospective gold mineralised structure being explored in      
Liberia today; the Dugbe Shear.                                                 
(Map showing Project location in SE Liberia showing road access, removed for    
SENS purposes, but can be found on the company website)                         
The project area is 25km along strike from Hummingbird`s (AIM:HBR) 0.8Moz Dugbe 
Project and 40km along strike from NT Resources (ASX:NTR) Bukon Jedeh Project.  
Both projects are hosted along secondary and tertiary order structures adjacent 
to the main Dugbe Shear. Similar structural targets have been defined in the    
government regional aeromagnetics data over the Sinoe Project area.             
The area is characterised by numerous artisanal gold workings observed in the   
field during recent site due diligence activities. The area is also             
characterised by numerous quartzite, graphite and manganese occurrences on the  
USGS Geological map of Liberia; all favourable indications for gold             
An aggressive field sampling and mapping programme is being designed to commence
within the coming weeks. Blanket, wide spaced soil traverses within the license 
area and closer spaced soil traverses over high priority targets including hard-
rock artisanal workings are being planned. Assessment of access, artisanal      
workings in the area and geological mapping will also be undertaken.            
A community`s consultation programme will be undertaken on commencement of field
work to ensure a social license to operate.                                     
(Total aeromagnetic imagery showing approximate locations of advanced projects  
along strike to the east, removed for SENS purposes, but can be found on the    
company`s website.)                                                             
Access is via paved and laterite road from Monrovia to Greenville and access    
track from Greenville to the project area. Under the terms of the agreement, the
Company has secured the services of the vendor`s expatriate site manager to     
build access tracks, additional camp facilities and maintain logistical supplies
to facilitate exploration activities.                                           
Tawana Resources has paid an initial exclusivity option fee to Global Mineral   
Investment Incorporated, the tenement holder of the Sinoe Project area, securing
binding exclusivity and exclusive rights to due diligence.  The details of the  
transaction remain commercial-in-confidence with full acquisition details to be 
provided on completion of successful due diligence by Tawana.                   
Lofa and Nimba Projects                                                         
Field work including regional mapping and stream sediment sampling and targeted 
soil traverses across high priority target areas defined by geology and         
artisanal workings is almost complete on the Lofa and Nimba projects. Additional
artisanal alluvial gold workings have been located and confirmed within streams 
draining coincident topographic high, aeromagnetic high anomaly and favourable  
greenstone lithological and structural settings in the central and northern     
portion of the Nimba license. These are in addition to the workings already     
defined and currently being sampled in the south of the Nimba license along a   
30km strike length structural ridge and magnetic high.                          
(Maps showing Nimba license area over USGS geology and government aeromagnetic  
survey total magnetic intensity, removed for SENS purposes, but can be found on 
the company`s website.)                                                         
The Nimba license area is considered highly prospective for multi Moz gold      
deposits due to:                                                                
Proximity to and on splays off the Cestos Shear; a major scale crustal structure
which hosts known gold deposits and projects                                    
Proximity to the Ity Gold Mine (5Moz)                                           
Structurally complex zone at contact between the Archean Craton to the west and 
Birimian complex 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 splay structures of the Cestos Shear.           
Recent mapping along soil traverses cut on the Nimba prospect has identified    
younger hematite dusted porphyritic alkaline feldspar-quartz-mica composition   
granites cross cutting the gneiss basement further enhancing the prospectivity  
of this area. Assay results for the full programme are expected late August.    
Senior Geologist Recruited                                                      
The Company is pleased to announce the recruitment of Rockson Coffie as Senior  
Geologist primarily accountable for field programmes and target generation in   
Liberia as well as review and assessment of prospective opportunities throughout
West Africa. Rockson is a Ghanaian national with in excess of 10 years`         
experience in grassroots exploration, resource evaluation and mine geology both 
in Ghana and Liberia.                                                           
Rockson has 5 years` experience in Ghana with Ashanti Goldfields and Redback    
Mining (now Kinross Gold Corporation NYSE:KGC & TSX:K) working on Birimian gold 
systems and with a broad range of responsibilities including grassroots         
exploration programs to production critical mine geology roles.                 
Over the last 5 years Rockson has been working on grassroots and advanced gold  
exploration programs throughout Liberia with Liberty International Mineral      
Corporation, Hummingbird Resources Ltd (AIM: HBR) and Shankill Resources Ltd    
over a broad range of Birimian and Archean geological settings throughout the   
"Rockson`s skills and relevant experience especially over the last 5 years in   
Liberia in similar geological and logistical settings we are working in now will
be critical to Tawana`s ongoing success and growth pipeline in Liberia and      
elsewhere throughout West Africa. We are very pleased to have Rockson on board",
Len Kolff (CEO) commented.                                                      
Tawana`s new look website is live at www.tawana.com.au in line with its new     
management, new focus; new beginnings vision.                                   
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
BHP Billiton, 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  
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.                                                                     
Contact Details                                                                 
Principle & Registered Office:                                                  
Suite 25, 145 Stirling Highway                                                  
Nedlands, Western Australia                                                     
Postal Address:                                                                 
P.O. Box 3144                                                                   
Broadway, Nedlands                                                              
WA 6009                                                                         
+61 8 9389 3140                                                                 
+61 8 9389 3199                                                                 
13 July 2011                                                                    
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 13/07/2011 09:58:22 Supplied by www.sharenet.co.za                     
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