| Fri 16 Nov 2007, 7:55 | | TAW - Tawana Resources NL - Press Release |
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TAW
TAW
TAW - Tawana Resources NL - Press Release
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
("Tawana" or "the Company")
15 November 2007
Press Release - St Augustines Project, South Africa
The Directors of Tawana, the ASX and JSE quoted diamond mining and exploration
company, have been advised that court action is being considered to set aside
the granting of the Prospecting Right over the St Augustines kimberlite in
Kimberley, South Africa.
In response to an article in the Diamond Fields Advertiser (DFA) on 15
November, our South African subsidiary issued the attached press release.
Contact:
Wolf Marx
Tel: +61 (0)3 98635222
Mob: +61 (0)428 398446
Email:wolf.marx@tawana.com.au
This report is based on information compiled by Wolf Marx BSc, BA, FAusIMM,
CPGeo, Managing Director of Tawana Resources NL. He has sufficient experience
relevant to the style of mineralisation and types of deposits under
consideration, and to the activities undertaken, to qualify as a competent
person as defined in the 2004 edition of the "Australasian Code for the
Reporting of Mineral Resources and Ore Reserves"
South African JSE Limited Sponsor:
PricewaterhouseCoopers Corporate Finance (Pty) Limited
PRESS RELEASE VECTO TRADE 436 (PTY) LIMITED AND TAWANA
RESOURCES SA ON NEWS DE BEERS CONSIDERING COURT ACTION
TO SET ASIDE ST AUGUSTINES PROSPECTING RIGHT
The news relayed to us by the DFA that De Beers is considering court action to
set aside the St Augustines Mine Prospecting Right, if true, would be tragic
for mineral and economic development in the Kimberley Area.
St Augustines Mine is as much part of Kimberley`s history as the Big Hole. If
it still contains a viable resource, it would be grossly unfair to deny the
modern residents of the City the benefits of its re-development especially
since historic records show that the diamonds found in St Augustines`s appear
to have been indistinguishable from those yielded by the western section of
the Big Hole and that the two Mines are probably located on the same volcanic
fissure.
Vecto Trade and Tawana Resources have approached all stakeholders, including
De Beers, involved in the development of the Big Hole Precinct as a tourist
centre and diamond hub and assured them of our support. We genuinely believe
that our proposed activities will enhance this development. We will bring
diamond exploration and hopefully diamond production, cutting, polishing and
distribution into the area making it a unique diamond hub with global tourist
and business appeal.
Adrian Horwitz
Director
Tawana Resources SA
Spokesperson
Vecto Trade 436
Date: 16/11/2007 07:55:05 Produced by the JSE SENS Department.
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