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TAWANA RESOURCES NL - Strategic Review and Market Update

Release Date: 06/05/2013 08:45:00      Code(s): TAW       PDF(s):  
Strategic Review and Market Update

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”)



COMPANY HIGHLIGHTS
-New Iron ore Discovery – Liberia, West Africa. >500Mt Exploration target*
- Experienced Board and Management

Mofe Creek Iron Ore Project, Liberia
- High grade +40 to +60% Fe; 65 km prospective strike
- 20km to coast, adjacent to rail alignment 65km to port
- 25km along strike from +50 Mt historic Bomi Hills DSO mine
Sinoe Gold Project, Liberia
- Highly prospective Birimian gold structures on Dugbe shear
- Along strike from 3.8Moz Dugbe gold project
Rakana JV (6.7%), South Africa
Meletse Iron Ore and Avontuur Manganese JV managed by Aquila Resources

Strategic Review and Market Update

Tawana Resources NL (ASX: TAW) is pleased to announce that it is undertaking a
strategic review of potential financing and strategic partnership options to advance the
development of the Mofe Creek Iron Ore Project, Liberia (Mofe Creek).

The Company is undertaking this review as a result of approaches to the Company
regarding its intentions for the funding and development of its Mofe Creek Project. The
Board feels it is important to explore all potential funding and development scenarios with
the aim of maximising shareholder returns.

The Company also wishes to announce the resignation of its Chairman, David Frances. Mr
Frances commented “I look forward to seeing the development of the exciting Mofe Creek
iron ore project in the future, and wish the Company and management every success”.

The Company believes the current structure of the Board is suitable for the current situation
and does not propose to immediately appoint a replacement to the Board.

The Company shall continue to keep the market updated in relation to any material
developments.

For further information please contact;

Len Kolff
Managing Director

CORPORATE DIRECTORY
David J Frances                             Len Kolff
Executive Chairman                          Managing Director
Julian Babarczy                             Matthew Bowles
Non-Executive Director                      Non-Executive Director
Winton Willesee /Aaron Finlay
Joint Company Secretary


CONTACT DETAILS
Freemason’s House
181 Roberts Road
Subiaco WA 6008

Email: admin@tawana.com.au
Website: www.tawana.com.au
Phone:     +61 8 9389 3140
Facsimile: +61 8 9287 4334


6 May 2013

Sponsor
PricewaterhouseCoopers Corporate Finance ( Pty) Ltd

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