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TAW - Tawana Resources NL - DFS Completed and Resource Upgrade on Gravenhage

Release Date: 02/12/2011 08:49:01      Code(s): TAW
TAW - Tawana Resources NL - DFS Completed and Resource Upgrade on Gravenhage    
Manganese Project; Thabazimbi Joint Venture, South Africa                       
(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")                                                     
(Please note all maps and images have been removed and can be found on the      
Tawana website)                                                                 
FAST FACTS                                                                      
Issued Shares: 856m                                                             
Market Cap:    $19m                                                             
Cash (Sep-11 Qtly): $4.3m                                                       
ASX CODE: TAW                                                                   
COMPANY HIGHLIGHTS                                                              
-                        New West African Gold Frontier                         
-                        Alliance with Gryphon Minerals                         
-                        Experienced Board and Management                       
Sinoe Gold Project, Liberia                                                     
-                        Highly prospective Birimian gold structures on         
                        Dugbe shear                                             
-                        Along strike from Dugbe gold deposit (1.8Moz)          
Mofe Creek Iron Ore Project, Liberia                                            
-                        40% Fe along 30km strike                               
-                        25km to coast, adjacent to rail, port and 50Mt Bomi    
Hills historic mine                                     
Nimba/Lofa Gold Projects, Liberia                                               
-                        Close proximity to Ity Gold Mine (5Moz)                
-                        Located on known gold hosting structures               
Thabazimbi JV (6.7%), South Africa                                              
Avontuur Manganese and Meletse Iron Ore JV managed by Aquila Resources          
DFS Completed and Resource Upgrade on Gravenhage Manganese Project;             
Thabazimbi Joint Venture, South Africa                                          
HIGHLIGHTS                                                                      
Through Tawana`s 6.76% indirect equity interest in the Gravenhage Manganese     
Project, a project incorporated in the Thabazimbi Joint Venture with Aquila     
Resources Ltd, the Company highlights the results announced by Aquila on        
30th November 2011.                                                             
*    Aquila Resources Ltd completes a Definitive Feasibility Study for the      
    Gravenhage Manganese Project                                                
*    Tawana Resources NL owns a 6.76% indirect equity interest in the           
Gravenhage Manganese Project through Rakana Consolidated Mining Pty         
    Ltd, the joint venture partner of Aquila Resources Ltd in the               
    Thabazimbi Joint Venture                                                    
*    Aquila Resources Ltd manages the Thabazimbi Joint Venture                  
Tawana Resources NL (ASX: TAW, the `Company`) is pleased to announce that       
Aquila Resources Ltd (ASX: AQA, `Aquila`) has completed a Definitive            
Feasibility Study (`DFS`) for the Gravenhage Manganese Project in South         
Africa.                                                                         
The Company holds a 26% equity stake in Rakana Consolidated Mining Pty Ltd      
("Rakana") the joint venture partner of Aquila in the TJV. The Avontuur         
Manganese project which includes the Gravenhage manganese resource and the      
Meletse iron ore resource are incorporated under the TJV.                       
For further technical detail please refer to Aquila`s Gravenhage DFS            
completion announcement of 30th November 2011.                                  
Thabazimbi Joint Venture                                                        
The Company holds a 26% equity stake in Rakana Consolidated Mining Pty Ltd      
("Rakana") the joint venture partner of Aquila Resources Ltd in the             
Thabazimbi Joint Venture.                                                       
(Shareholding chart of Rakana Consolidated Mining Pty Ltd has been removed)     
The Thabazimbi Joint Venture includes the Northern Cape Project and             
Thabazimbi Project. The Northern Cape Project includes the Avontuur license     
which contains the Gravenhage Manganese project. The Thabazimbi Project         
includes the Meletse Iron Ore project.                                          
(Thabazimbi Joint Venture Project locations map has been removed)               
For further information, please contact:                                        
Lennard Kolff van Oosterwijk                                                    
Managing Director                                                               
CORPORATE DIRECTORY                                                             
Warwick Grigor                     Len Kolff                                    
Managing Director                  Non-Executive Chairman                       
Julian Babarczy                    Euan Luff                                    
Non-Executive Director             Non-Executive Director                       
Matthew Bowles                     Winton Willesee /Aaron Finlay                
Non-Executive Director             Joint Company Secretary                      
CONTACT DETAILS                                                                 
Principal & Registered Office:                                                  
Suite 25, 145 Stirling Highway                                                  
Nedlands, Western Australia                                                     
Email:    admin@tawana.com.au                                                   
Website:       www.tawana.com.au                                                
Phone:    +61 8 9389 3140                                                       
Facsimile:     +61 8 9389 3199                                                  
2 December 2011                                                                 
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
Date: 02/12/2011 08:49:01 Supplied by www.sharenet.co.za                     
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