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Release Date: 12/06/2018 08:40:00      Code(s): TAW       PDF(s):  
Merger Update

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”)

Merger Update

Tawana Resources NL (ASX:TAW) (Tawana or the Company) is pleased to provide
the following update on the proposed merger of equals (Merger) between Tawana
and Alliance Mineral Assets Limited (SGX: 40F) (Alliance) as announced on 5 April
2018, whereby, subject to all necessary approvals, Alliance will acquire all of the
issued shares of Tawana for consideration of 1.10 Alliance Shares per Tawana
share (Scheme):

-   Alliance has received a ‘no objection’ ruling from the Singapore Exchange
    Securities Trading Limited (SGX-ST) in response to its application for a waiver
    from compliance with Catalist Rule 1015 in respect to the proposed Merger
    (Waiver). The Waiver results in a more streamlined timetable for the Merger
    with the result that Tawana and Alliance are now working towards the
    following indicative timetable:

Lodge Scheme Booklet with ASIC                         2 July 2018
First Court hearing date                               20 July 2018
Printing and despatch of Scheme Booklet                24 July 2018
Alliance shareholder meeting                           21 August 2018
Scheme Meeting of Tawana shareholders                  23 August 2018
Second Court hearing date                              29 August 2018
Lodge Court order with ASIC                            30 August 2018
Record Date                                            6 September 2018
Implementation Date                                    13 September 2018
Alliance listing on ASX Official List                  14 September 2018

*This timetable remains indicative only, and is subject to change (including in
relation to Court dates).

-   Alliance has received a notice of “no objection” to the Merger from the
    Australian Treasurer. This satisfies the “FIRB approval” condition in the
    Scheme Implementation Agreement between Tawana and Alliance.
-   Tawana is currently preparing the Scheme Booklet, which is expected to be
    provided for ASIC review near the start of July 2018 and be available for
    despatch to Tawana shareholders in late July 2018.
-   Alliance’s general meeting to approve the A$7.8m placement to Burwill
    Holdings Ltd, an existing substantial shareholder of Alliance, is scheduled for
    25 June 2018.
-   Tawana released the Notice of Meeting regarding the demerger of its noncore
    assets into Cowan Lithium Limited on 1 June 2018, with the meeting to
    approve the proposed demerger being scheduled for 6 July 2018.

For further information please contact +61 8 9489 2600.

12 June 2018
PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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