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TAWANA RESOURCES NL - TAW and Alliance complete First Shipment of Lithium Concentrate from Ball Hill

Release Date: 03/05/2018 08:14:00      Code(s): TAW       PDF(s):  
TAW and Alliance complete First Shipment of Lithium Concentrate from Ball Hill

 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
(“the Company” or “Tawana”)

Tawana and Alliance complete First Shipment of Lithium Concentrate from Bald Hill

PLEASE NOTE: ALL GRAPHICS HAVE BEEN REMOVED FOR SENS PURPOSES. PLEASE REFER TO
TAWANA WEBSITE FOR THE COMPLETE ANNOUNCEMENT

Tawana Resources NL (TAW:ASX) (Tawana) and Alliance Mineral Assets Limited
(SGX:40F) (AMAL) are pleased to announce that the first shipment of spodumene
(lithium) concentrate from the Bald Hill Lithium and Tantalum Mine (Bald Hill) has
been completed.

The shipment of approximately 3,250 metric tonnes of lithium concentrate was
loaded at the Port of Esperance and is destined for the Port of Zhenjiang in China.

The lithium concentrate from Bald Hill is sold under offtake agreements with Hong
Kong based Burwill Commodity Limited.

The Bald Hill Project in the Eastern Goldfields region of Western Australia, is a joint
venture project between Tawana and AMAL. Bald Hill is the first Australian mine to
commence spodumene production since 2016.

The first shipment of lithium concentrate follows the successful commissioning and
the continued ramp?up of the Bald Hill Project, with production commenced in
March 2018.

A second larger shipment of Bald Hill concentrate is also expected in May 2018.

About the Bald Hill Project

The Bald Hill Project comprises four mining leases, one mining lease
application, 12 exploration licences, eight prospecting licences and one general purpose lease
totalling 774km2. The project is owned 50:50 by Tawana and AMAL.

Each of Tawana and AMAL executed separate offtake agreements in April 2017 (and subsequent
variations thereto) for the supply of lithium concentrate from Bald Hill over a five?
year term with pricing for 2018 and 2019 of US$880/t (FOB Esperance) for 6% Li20. The prepaym
ents from the offtake agreements are being used towards the capital costs of the Project.

The Project is located 50km southeast of Kambalda in the Eastern Goldfields of Western
Australia, and approximately 75km southeast of the Mt Marion Lithium project.

A current Indicated and Inferred lithium Mineral Resource of 18.9 million tonnes at 1.18% Li20, and
149ppm Ta205 at a 0.5% Li20 cut?off for the Project was calculated by CSA Global Pty Ltd.1

Forward Looking Statements This announcement may contain certain forward looking statem
ents and projections, including regarding estimated resources and reserves, production and o
perating costs profiles, capital requirements and strategies and corporate objectives. Such forward
 looking statements/projections are estimates for discussion purposes only and should not be relie
d upon as representation or warranty, express or implied, of Tawana Resources NL and/or Allianc
e Mineral Assets Limited. They are not guarantees of future performance and involve known and u
nknown risks, uncertainties and other factors many of which are beyond the control of Tawana Res
ources NL and/or Alliance Mineral Assets Limited. The forward looking statements/projections are
inherently uncertain and may therefore differ materially from results ultimately achieved. Tawana
 Resources NL and/or Alliance Mineral Assets Limited does not make any representations and pro
vides no warranties concerning the accuracy of the forward looking statements, and disclaims any
obligation to update or revise any forward looking statements based on new information, future ev
ents or otherwise except to the extent required by applicable laws. While the information contained
in this announcement has been prepared in good faith, neither Tawana Resources NL and/or Allia
nce Mineral Assets Limited or any of their directors, officers, agents, employees or advisors give a
ny representation or warranty, express or implied, as to the fairness, accuracy, completeness or c
orrectness of the information, opinions and conclusions contained in this announcement. According
ly, to the maximum extent permitted by law, none of Tawana Resources NL and/or Alliance Minera
l Assets Limited, their directors, employees or agents, advisers, nor any other person accepts an
y liability whether direct or indirect, express or limited, contractual, tortuous, statutory or othe
rwise, in respect of, the accuracy or completeness of the information or for any of the opinions cont
ained in this announcement or for any errors, omissions or misstatements or for any loss, howsoe
ver arising, from the use of this announcement.

End Notes
   1. All material assumptions and technical parameters underpinning the Mineral Resourc
      e estimates in the ASX announcement dated 11 October 2017 / SGX announcement da
      ted 12 October 2017 continue to apply and have not materially changed since it was last r
      eported.

03 May 2018
Sponsor PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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