Hunting New Frontiers

In West Africa
Len Kolff, CEO Africa DownUnder, Perth 2011

Disclaimer
The information contained in this presentation has been prepared by Tawana Resources Ltd (TAW). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in TAW. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement or offer information statement. This presentation is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act. This presentation 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. 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. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. Tawana Resources NL does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this presentation has been prepared in good faith, neither TAW or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, none of TAW, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation. The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Lennard Kolff van Oosterwijk, who is a Member of the Australian Institute of Geoscientists included in a list promulgated by the ASX from time to time. Lennard Kolff van Oosterwijk 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 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Lennard Kolff van Oosterwijk consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Company Highlights
Targeting multi Moz gold systems and other minerals in West Africa

Strategic Alliance with major shareholder Gryphon Minerals

Valuable South African asset base including 6.76% share of significant manganese and iron ore projects

West African experienced board & management

2,000 km2 of highly prospective Archean and Birimian geology in Liberia Applications pending approval for additional highly prospective ground Certain permits along strike or adjacent to major gold discoveries; 5 Moz Ity, 1.5 Moz New Liberty and 0.8 Moz Dugbe Aggressive exploration program underway; high priority targets defined

Non-core project rationalisation underway and expected to generate shareholder returns

Valuable South African Asset Base

6.76% equity interest in manganese and iron ore JV with Aquila Resources
Broker valuations of Avontuur alone potentially underpins Tawana market capitalisation

Enormous leverage into Gryphon Alliance, management and West Africa

Project Avontuur Mn Meletse Fe Resource 108.9 Mt 47.6 Mt Grade 38.6% Mn 62.9% Fe Source AQA Feb 2011 AQA May 2010

Broker

Avontuur

TAW
26%

Motjoli
74%

Macquarie Southern Cross CBA

$680 million $590 million $252 million

Rakana
26%

Aquila
74%

TJV
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Corporate Overview
Capital Structure
Shares on issue Market Cap @ 5 cents Options (1-35 cents, Nov11-Sep14) Cash Debt

ASX & JSE: TAW

857m $43m 180m $4.5m Nil

Major Shareholders
Gryphon Minerals Ltd Merriwee Pty Ltd Deck Chair Holdings

%
13% 6% 5%

Top 20 shareholders
Directors Shareholding

63%
9%

Share Price Performance LTM TAW Aug 10 Aug 11

0.06 0.05 0.04 Au $ 0.03 40 35 30 25 20 15 10 0.01 0 5 0

0.02

Volume (millions)
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Board and Management

Warwick Grigor
Non-Executive Chairman Executive Chairman and Head of Research at BGF Equities Pty Ltd

Julian Babarczy
Non-Executive Director Fund Manager -Natural Resources Specialist

Euan Luff
Non-Executive Director Legal Senior Partner

Matthew Bowles
Non-Executive Director Corporate finance and M&A expertise in mining sector

Extensive experience in
all facets of finance

Experienced company
director

Chief Development Officer

Gryphon Minerals Limited

Len Kolff
Chief Executive Officer Geologist

15yrs+ exploration/resource evaluation

experience in Africa & Australia with RT

Integral in +2Bt Simandou Fe discovery Discovered Cu-Au deposit at Northparkes French/Spanish/Dutch speaker
Joe Collins
Consultant Geologist-SEMS Liberian national in West Africa

Rockson Coffie
Senior Geologist Ghanaian national in West Africa

15yrs+ extensive Au exploration experience

10yrs+ extensive Au exploration experience

Newmont Mining Corporation, BRGM Accra/Monrovia based French, Japanese speaker

5yrs in Liberia; Birimian-Archean settings Ashanti Goldfields, Redback Mining FIFO Ghana
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Strategic Alliance with Gryphon Minerals

Strategic Alliance announced Dec 2010 - GRY a major shareholder (13%) - GRY to assist TAW with the identification, assessment and acquisition of West African mineral permits - GRY to assist in exploration, operational and logistical activities - Alliance to target gold, base metals and other minerals throughout West Africa Initial move into Liberia with 2 tenements granted Additional opportunities continue to be reviewed throughout West Africa

Liberia: A Country Overview

Eight years of political stability and economic reform after 15yrs civil unrest Democratically elected President Ellen Johnson-Sirleaf; first female African head of state

Modern Mining code

Pro-active Mining Govt encouraging mining investment

English speaking
Majors are active - BHPB, ArcelorMittal and Severstral established in country

Why Liberia?
Liberia is underexplored yet highly prospective
- 1.5 Moz New Liberty

- 0.8 Moz Dugbe F

Highly prospective Archean and Birimian geology Archean greenstones well known to host large highgrade Au deposits

- +19 Moz Tasiast

- 14 Moz Geita

Liberian Portfolio
Two licences granted for 1,591 km2 One licence under JV for 400 km2 Additional licences pending approval Adjacent to and along strike from known deposits Targeting multi Moz gold systems

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Nimba Licence
Granted Feb 2011 995 km2 Archean/Birimian greenstone and BIFs Adjacent to 5 Moz Ity gold mine Favourable structural, lithological and geophysical targets Extensive artisanal activity confirmed Regional stream sediment sampling completed; awaiting results
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Ity 5 Moz

Lofa Licence
Granted Feb 2011 596 km2 Archean greenstone and BIFs Along strike from 1.5 Moz New Liberty Major crustal scale structures
New Liberty 1.5 Moz

Artisanal activity confirmed

Regional stream sediment sampling completed; awaiting results
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Sinoe Licence
400 km2 of highly prospective Birimian geology 20 km along strike from 0.8 Moz Dugbe

40 km along strike from Bukon Jedeh project

Extensive artisanal workings; no modern day exploration Soil sampling and mapping now underway

Dugbe 0.8 Moz

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West African Growth Strategy

TAW & GRY actively seeking and reviewing potential growth opportunities in West Africa Alliance expected to generate further licences in new countries in the near term Targeting gold and other mineral opportunities

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The next 12 months

Liberia
Exploration Phase 1 Assays & Reporting Exploration Phase 2 Drilling Priority Targets pending results Secure tenure Completed Oct 2011 Q3-4 2011 Q1 2012 Ongoing

South Africa
Completion of Avontuur Feasibility Study Report Portfolio rationalisation Q4 2011 Ongoing

West Africa & Strategic Alliance

Project generation Ongoing

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Company Highlights
Targeting multi Moz gold systems and other minerals in West Africa

Strategic Alliance with major shareholder Gryphon Minerals

Valuable South African asset base including 6.76% share of significant manganese and iron ore projects

West African experienced board & management

2,000 km2 of highly prospective Archean and Birimian geology in Liberia Applications pending approval for additional highly prospective ground Certain permits along strike or adjacent to major gold discoveries; 5 Moz Ity, 1.5 Moz New Liberty and 0.8 Moz Dugbe Aggressive exploration program underway; high priority targets defined

Non-core project rationalisation underway and expected to generate shareholder returns

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Suite 25, 145 Stirling Highway, Nedlands, Western Australia P.O. Box 3144 Broadway Nedlands WA 6009 Phone: (08) 9389 3140 Fax: (08) 9389 3199 www.tawana.com.au