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TAWANA RESOURCES NL - Environmental Approvals Finalised

Release Date: 25/07/2017 08:34:00      Code(s): TAW       PDF(s):  
Environmental Approvals Finalised

Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Securities Exchange Limited: TAW
(“the Company” or “Tawana”)


Tawana Resources NL (TAW:ASX) (Tawana or the Company) and Alliance Mineral Assets Limited
(SGX:AMA) (AMAL) are pleased to announce that environmental approval to construct and operate a
1.2mtpa dense media separation plant (DMS) at the Bald Hill Mine in Western Australia has been

The issuing of an amended operation licence by the Department of Water and Environmental Regulation
(DWER), follows recent approval of the updated Environmental Mining Proposal by the Department of
Mines and Petroleum (DMP). These approvals have allowed for construction to commence on site and
follows the early works programme which began in June 2017.
These new approvals also allow for mining and processing to commence for both lithium and tantalum
at Bald Hill.

The Bald Hill Lithium and Tantalum Mine now has all the necessary environmental approvals required
to be one of Australia’s next lithium producers.
Tawana Managing Director Mark Calderwood stated “Being permitted to develop and operate at the
Bald Hill Mine is a significant achievement and milestone for the joint venture. I look forward to
providing further updates at this exciting time for Tawana and AMAL as we transition from explorer to

Bald Hill Project

The Bald Hill project (Project) area is located 50km south east of Kambalda in the Eastern Goldfields
of Western Australia. It is located approximately 75km south east of the Mt Marion Lithium project
and is adjacent to Tawana’s Cowan Lithium project. The Project, owned by Alliance Mineral Assets
Limited (AMAL), includes a permitted tantalum (pegmatite) mine, processing facility and associated

Through Tawana’s 100% owned subsidiary Lithco No. 2 Pty Ltd (Lithco), Tawana entered into a Farm-
In Agreement on 23 February 2017 with AMAL with respect to AMAL’s Bald Hill project for the
purpose of joint exploration and exploitation of lithium and other minerals. In May 2017, Tawana earned
its 50% rights to all lithium minerals from the tenements comprising the Project, and Tawana and
AMAL are now governed by the Lithium Rights Joint Venture Agreement which was entered into on
10 April 2017.

Tawana is required to spend $12.5 million in capital expenditure for upgrading and converting the plant
for processing ore derived from the Project, infrastructure costs, pre-stripping activities and other
expenditures including operating costs (Capital Expenditure) by 31 December 2019.

Upon completion of the Capital Expenditure, Tawana will be entitled to a 50% interest in the Project
(being all minerals from the tenements and the processing plant and infrastructure at Bald Hill). The
portfolio of mineral tenements, comprising mining leases, exploration licences, prospecting licences,
miscellaneous licences, a general-purpose lease, and a retention lease are in good standing. AMAL and
Lithco had on 18 April 2017 entered into a Bald Hill Joint Venture Agreement (“Bald Hill JVA”). For
the avoidance of doubt, the Bald Hill JVA has not come into effect as at the date of this announcement.
Tawana raised $15 million before costs, in May 2017, in order to fund its $12.5 million Capital
Expenditure commitment to earn its 50% interest in the Project.

Forward Looking Statement

This report may contain certain forward looking statements and projections regarding estimated,
resources and reserves; planned production and operating costs profiles; planned capital requirements;
and planned strategies and corporate objectives. Such forward looking statements/projections are
estimates for discussion purposes only and should not be relied upon as representation or warranty,
express or implied, of Tawana Resources NL and/or Alliance Mineral Assets Limited. They are not
guarantees of future performance and involve known and unknown risks, uncertainties and other factors
many of which are beyond the control of Tawana Resources NL and/or Alliance Mineral Assets Limited.
The forward looking statements/projections are inherently uncertain and may therefore differ materially
from results ultimately achieved.

25 July 2017

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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