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TAWANA RESOURCES NL - Environmental and Social Impact Assessment awarded for Mofe Creek Project

Release Date: 22/07/2014 09:00:00      Code(s): TAW       PDF(s):  
Environmental and Social Impact Assessment awarded for Mofe Creek Project

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

Environmental and Social Impact Assessment awarded for Mofe Creek Project

Tawana Resources NL (ASX: TAW) (“Tawana” or “the Company”) is very pleased to
announce that the Environmental and Social Impact Assessment (“ESIA”) for the Mofe
Creek Project (the “Project”) has been awarded to Earth Systems.

Work has already commenced on the ESIA which will assess potential environmental and
social impacts of the Company’s proposed production activities associated with the
development of the Mofe Creek Project in Liberia, located 20km from the coast and 85km
from the country’s capital city and major deep-water port, Monrovia.

Earth Systems (Perth and African offices) have partnered with a local multidisciplinary
consultancy group - Earth Environmental Consultancy Inc. (“EarthCons”), based in
Monrovia, to undertake the assessment. Executive Chairman Mr Wayne Richards said, “We
are pleased to have awarded this key study deliverable to a company with proven expertise
in the assessment of Liberian and West African iron ore projects”.

The commencement of the ESIA is a significant step forward for the Project and follows on
from the Company’s recently completed positive Scoping Study Environmental review. The
ESIA will be carried out over the forthcoming year with the final report to be presented to the
Environmental Protection Authority (“EPA”), key stakeholders, the community and related
parties by mid-2015.

The ESIA, combined with the progression of the Company’s Mineral Development
Agreement (“MDA”) with key stakeholders in the Liberian Government, will advance the
longer-term requirement for the granting of a Mining Licence, for the entire (current and
forecast) Mofe Creek Project.

Mr Richards said, “We look forward to this study confirming the Project’s capacity to
generate economic and social benefits at the national, regional and local levels through
employment, royalties, infrastructure development, community development investment, and
direct and indirect stimulation of local economic activity in an environmentally responsible
manner”.

For further information please contact: Wayne Richards
Executive Chairman
Tel +61 8 9287 4344
Detailed information on all aspects of Tawana’s projects can be found on
the Company’s website www.tawana.com.au

Cautionary Statements

The Scoping Study referred to in this announcement is based on lower-level technical and
economic assessments, and are insufficient to support estimation of Ore Reserves or to
provide assurance of an economic development case at this stage, or to provide certainty
that the conclusions of the Scoping Study will be realised.
The Scoping Study is preliminary in nature as its conclusions are drawn on inferred (74%)
and indicated mineral resources (26%). The relative sequence of mining is the indicated
mineral resource is assumed in Years 1 to 4, then the inferred mineral resource is assumed
to commence in Year 4.

There is a low level of geological confidence associated with inferred mineral resources and
there is no certainty that further exploration work will result in the determination of indicated
mineral resources or that the production target itself will be realised. The stated production
target is based on the Company’s current expectations of future results or events and should
not be solely relied upon by investors when making investment decisions. Further evaluation
work and appropriate studies are required to establish sufficient confidence that this target
will be met.

Further, the Company cautions that there is no certainty that the forecast financial
information derived from production targets will be realised. All material assumptions
underpinning the production targets and forecast financial information derived from the
production targets are set out in Section 2 of this announcement.

Competent Persons Statement

The information in this report that relates to Mineral Resources or Ore Reserves is based on
information compiled by Len Kolff and Iain Macfarlane, who are members of the Australian
Institute of Geoscientists. Len Kolff 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves’. Iain Macfarlane is a full-time employee of Coffey
Mining Pty Ltd 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 2012 Edition of the ‘Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves’ Len Kolff and Iain
Macfarlane consent to the inclusion in the report of the matters based on his information in
the form and context in which it appears.

Forward Looking Statement

This announcement contains certain forward looking statements. These forward-looking
statements are not historical facts but rather are based on the Company’s current
expectations, estimates and projections about the industry in which Tawana Resources NL
operates, and beliefs and assumptions regarding the Company’s future performance. Words
such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” “potential”
and similar expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known and unknown
risks, uncertainties and other factors, some of which are beyond the control of the Company,
are difficult to predict and could cause actual results to differ materially from those expressed
or forecasted in the forward-looking statements. Tawana Resources NL cautions
shareholders and prospective shareholders not to place undue reliance on these forward-
looking statements, which reflect the view of Tawana Resources NL only as of the date of
this presentation. The forward-looking statements made in this release relate only to events
as of the date on which the statements are made. Tawana Resources NL will not undertake
any obligation to release publicly any revisions or updates to these forward-looking
statements to reflect events, circumstances or unanticipated events occurring after the date
of this presentation except as required by law or by any appropriate regulatory authority.

22 July 2014

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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