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TAWANA RESOURCES NL - Environmental Protection Agency Confirms Approval to Progress Environmental and Social Impact Studies

Release Date: 01/10/2014 08:58:00      Code(s): TAW       PDF(s):  
Environmental Protection Agency Confirms Approval to Progress Environmental and Social Impact Studies

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 Protection Agency confirms Approval to
progress Environmental and Social Impact Studies
Tawana Resources NL (ASX: TAW) (‘the Company’ or ‘Tawana’) is pleased to announce
that the Environmental Protection Agency (‘EPA’) of Liberia has granted Tawana the official
right to proceed to conduct the Environmental and Social Impact Assessment (‘ESIA’) for the
Company’s 100% owned – Mofe Creek iron ore project (‘the Project’).

The Company was recently notified by the Executive Director/CEO – of the EPA, the Hon.
Anyaa Vohiri that the Project, located in Grand Cape Mount and Bomi Counties, Liberia, has
received approval to conduct the ESIA studies to support the development of the project.

The EPA reviewed the “Project Brief” document which presents an overview of the Project
and its environmental and social context, and subsequently authorised the Company to
proceed on the basis of the document submitted.

The Notice of Intent (‘NOI’) was published in August in Monrovia and broadcast within the
communities surrounding the Project, as outlined in the ASX release ‘Tawana to commence
assessment studies for Mofe Creek ESIA’ dated 26 August 2014. The NOI is an integral first
step in the consultative process with the community. Further interactive briefings are
scheduled to proceed in the coming weeks.

Executive Chairman Wayne Richards said, “The approval to progress the ESIA confirms the
EPA’s and Tawana's commitment to an interactive and cooperative process with the
community and associated stakeholders, to define and quantify the environmental and social
aspects of the Project. The approval likewise provides the Company with the go ahead to
collect baseline data and processes required to submit our final ESIA report, in preparation
for the ultimate granting of our Environmental Impact Assessment (EIA) permit”.

Mr Richards further stated, “I would like to thank the EPA for their timely review and approval
of the Company’s briefing document submission, and for their ongoing support towards the
sustainable development of the Mofe Creek Project”.

The ESIA studies will correlate both “wet” and “dry” seasonal data, in support of the EIA
permit approval. The wet season is currently persisting in Liberia, and the weather station is
fully operational. The final submission of the ESIA document to the EPA is forecast for Q3

Consulting companies Earth Systems Pty Ltd (Australia) in collaboration with Earth
Environmental Consultancy, Inc. of Liberia have commenced work in support of the ESIA

About Tawana (ASX & JSE: TAW)
Tawana Resources NL is an iron ore focused ASX and JSE-listed company with its principal
project in Liberia, West Africa. Tawana’s 100%-owned Mofe Creek Project is a new
discovery in the heart of Liberia’s historic iron ore district, located 20km from the coast and
80km from the country’s capital city and major port, Monrovia.

Tawana is committed to becoming a mid-tier iron ore producer through the development of
the Mofe Creek Project, which covers 471km2 of highly prospective tenements in Grand
Cape Mount County. The Project hosts high-grade friable itabirite mineralisation, which can
be easily upgraded to a premium quality iron ore product of +64-68% Fe grade, via simple,
low capital intensity beneficiation.

The Company has recently concluded its successful and financially robust Scoping Study on
the Mofe Creek Project. The Scoping Study considered an early start-up, low capital cost
project with a production rate of up to 2.5 million tonnes per annum.

For further information please contact: Wayne
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 Statement

Full details of the Scoping Study referred to in this announcement were initially released to
the ASX in an announcement dated 3 July 2014, and should be read in conjunction with this
announcement. All material assumptions underpinning the Scoping Study, production targets
and forecast financial information derived from the production targets as well as any
cautionary statements and disclosures as required under the ASX Listing Rules and 2012
JORC Code are set out in the announcement dated 3 July 2014 and continue to apply and
have not materially changed.

The Scoping Study referred to in this announcement is preliminary in nature as its
conclusions are drawn on inferred (74%) and indicated mineral resources (26%). The
Scoping Study 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.

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. There is also no
certainty that the forecast financial information derived from the production targets will be

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.

01 October 2014

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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