Tawana Resources N L : Merger Update

ASX RELEASE 12 June 2018

ASX:TAW

CORPORATE DIRECTORY

Non-Executive Chairman Robert Benussi

Managing Director Mark Calderwood

Non-Executive Directors Robert Vassie

Mark Turner Wei (Vicki) Xie

Chief Financial Officer Craig Hasson

Joint Company Secretaries Alexei Fedotov

Claire O'Brien

Media contact: Nathan Ryan NWR Communications [phone]

CONTACT DETAILS

Level 3

20 Parkland Rd Osborne Park WA 6017

Email |[e-mail] |www.tawana.com.auPhone | [phone]

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 non-core 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 [phone].