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TAWANA RESOURCES NL - Mofe Creek Project Update

Release Date: 24/03/2015 08:50:00      Code(s): TAW       PDF(s):  
Mofe Creek Project 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

Mofe Creek Project Update


Tawana Resources NL is pleased to provide the following updates in relation to the Mofe
Creek project (the Project):

- The inaugural Inter-Ministerial Concessions Committee (IMCC) meeting is scheduled for
  09 April. This committee will negotiate the Mofe Creek Mineral Development Agreement
  (MDA) under the Chairmanship of the Liberia National Investment Committee Chair.
- Tawana is advancing discussions with in-country iron ore producers and developers on
  potential co-sharing infrastructure arrangements for a common-user port and
  infrastructure corridor.
- Mobilisation of Liberian and expatriate staff into Liberia and the Project area occurred
  during March to advance corporate and field activities.
- Detailed satellite Digital Elevation Model imagery has been received for environmental
  and engineering purposes, and in particular, definition of infrastructure corridor and
  potential port location sites for the Pre-Feasibility Study development.
- Low-cost exploration activities are currently underway, including geological mapping to
  define new targets within the newly acquired tenement MEL1223/14, with initial results
  expected over the coming week.
- Low-cost, critical path Environmental Social Impact Assessment (ESIA) studies are
  underway with Liberian consultants mobilised to site and engaged with communities.
- Advancement of the Scoping Report and Terms of Reference to the Environmental
  Protection Agency is underway with submission expected end-May, as a pre-requisite of
  the ESIA.
- A geochemistry sampling programme of existing drill samples is underway, as part of the
  ESIA baseline for future waste and process tailings chemistry analysis.
- Monitoring and recording of baseline ground water and weather station data is ongoing.
- Tawana is currently conducting an international roadshow, to further promote the Project
  and Company.

The Company’s current focus is on low-cost, value-add and critical path activities that are
being executed under a three-pronged strategy; advancing the MDA, advancing the ESIA
and executing low-cost exploration activities on the newly acquired southern tenement

The President of the Republic of Liberia, Ellen Johnson Sirleaf officially appointed an Inter-
Ministerial Concessions Committee to negotiate the Company’s MDA agreement earlier this
year. In recent MDA developments, an inaugural meeting has been scheduled to take place
on 09 April. This represents a major milestone and strategic step forward in the
advancement of the Project.

Low-cost exploration of the southern licence by our in-house Liberian team, and targeted
value-add ESIA baseline activities have commenced. Exploration is scheduled to be
completed within two months, with initial results available in the coming weeks.
The Ebola situation continues to improve in Liberia with the last confirmed Ebola patient
released from a treatment center on 5th March. No new confirmed cases have been
reported in Liberia for over three consecutive weeks. Once 42 days have passed since the
last known patient is tested negative a second time for Ebola, the country can be declared
free of Ebola virus transmission (Source: World Health Organisation, 18 March Situation

For further information, contact:

Wayne Richards
Executive Chairman
Ph: +61 8 9489 2600

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.

24 March 2015

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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