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TAW - Tawana Resources NL - Robust Geochemical anomalies defined at Nimba and

Release Date: 14/12/2011 10:16:01      Code(s): TAW
TAW - Tawana Resources NL - Robust Geochemical anomalies defined at Nimba and   
Lofa Projects, Liberia, West Africa                                             
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")                                                     
Robust Geochemical Anomalies Defined at Nimba and Lofa Projects, Liberia, West  
Africa                                                                          
(Please note all maps and images have been removed and can be found on the      
Tawana website)                                                                 
HIGHLIGHTS                                                                      
*    High priority stream sediment gold anomalies defined at the Nimba and Lofa 
    projects                                                                    
*    Large scale robust 10 km strike length target identified at Nimba and 6 km 
    strike length target at Lofa                                                
*    Anomalous target areas enhanced by coincident artisanal workings,          
    favourable geology and major structures that host the 5 Moz Ity mine and    
    1.52 Moz New Liberty resource                                               
*    Field teams in place for immediate follow-up in the New Year               
Tawana Resources NL (ASX: TAW, the `Company`) is pleased to announce it has     
identified several high priority stream sediment anomalies from its maiden      
geological exploration program on the companies Nimba and Lofa projects in      
Liberia, West Africa.                                                           
Tawana Resource NL, Managing director, Len Kolff said "This is a great result   
for the Nimba and Lofa licences acquired under the Gryphon Strategic Alliance;  
discrete target areas have been identified by robust, stream sediment           
geochemical anomalies that will be immediately followed up with soil sampling & 
drill targeting."                                                               
Nimba BLEG Anomalies                                                            
A total of 355 stream sediment samples were collected on the Nimba prospect of  
which 154 samples were selected for BLEG gold and multi-element geochemical     
analysis.                                                                       
Clustering of gold anomalies was observed in the south of the tenement area. In 
addition gold anomalies were scrutinised and ranked by evaluating their multi-  
element geochemical signatures based on relative metal concentrations. Clear    
multi-element geochemical signatures (Au+Ba+Ga/La+Pb and Au+Cu+Fe+Pb+Ti+V) were 
observed with peak gold anomalism, providing confidence that the stream         
sediments are substantially sampling the bedrock and that the gold anomalies are
genuine. Peak anomalies were recorded at 16ppb; 16 times higher than background 
gold levels of around 1ppb.                                                     
These factors combined provide confidence that results are robust and defining  
anomalism associated with upstream gold mineralisation. The strongest gold      
response in the SW corner of Nimba is defining a +10km strike length ridge and  
two smaller sub-parallel ridges on either side of the main trend.               
These target areas are further enhanced by increased artisanal mining activity  
downstream, coincident topographic and magnetic highs and favourable structural 
and lithological settings.                                                      
Lofa BLEG Anomalies                                                             
A total of 218 stream sediment samples were collected on the Lofa license of    
which 74 samples were selected for BLEG gold and multi-element geochemical      
analysis. Peak gold anomalism was reported at 8.6ppb; 8.5 times higher than     
background gold levels of around 1ppb.                                          
Clustering of anomalies was observed within streams draining a discrete 6x3 km  
area of hills in the north-west of the tenement area. Anomalies were scrutinised
further and multi-element geochemical signatures defined, with the strongest    
gold response associated with a Au+Ba+Ga/La+Pb signature as per Nimba in        
addition to a Cu-Ni-Cr-V-Ti-Fe metal association suggesting a mafic/ultramafic  
lithological host.                                                              
Ultramafics have not been recorded on the government USGS regional geological   
map; however, native Cu mineral occurrences are recorded on the northern licence
boundary immediately adjacent, further supporting and enhancing the anomalous   
area.                                                                           
Sampling and Assay Methodology                                                  
Stream sediment samples were collected using an ultra-sensitive Bulk Leach      
Extractable Gold (BLEG) methodology which is designed to minimise "nugget       
effect" sampling issues and increase sample result repeatability. The BLEG      
methodology used is specifically designed to see mineralisation signatures      
from large hydrothermal gold systems whilst filtering out the effects of small, 
high-grade systems that can generate costly and time consuming false anomalies. 
It is highly appropriate in tropical environments where there has been long     
lived deep weathering and erosion creating significant dispersion trains.       
All samples were submitted to OMAC Stewart Group laboratory for gold and        
multi-element geochemical analysis. Gold analysis was by low level BLEG         
using accelerated active leach with leach aid (DL 0.1ppb) and multi-element     
geochemical analysis was by Aqua Regia digest and combined Inductively Coupled  
Plasma with Atomic Emission Spectrometry or Mass Spectrometry (ICPAES/MS)       
finish.                                                                         
Results received have passed internal and external QA/QC procedures and are     
within reporting error limits (+/-2SD) of certified standards inserted by the   
Company providing confidence in reported results.                               
Next Steps and Timing                                                           
A soil sampling and infill stream sediments programme has been planned to cover 
the newly identified target areas. Field work is expected to commence early in  
the New Year. Pending results, infill soil sampling and trenching followed by   
drilling of subsequent target areas is planned.                                 
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 is 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 (+40 Moz) and Tasiast (+18 Moz). 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                                                    
Managing Director                                                               
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.                                                
Sponsor                                                                         
PricewaterhouseCoopers Corporate Finance (Pty) Ltd                              
14 December 2011                                                                
Date: 14/12/2011 10:16:00 Supplied by www.sharenet.co.za                     
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