TASMAN RESOURCES LTD — Capital/Financing Update 2003

Nov 5, 2003

TASMAN RESOURCES NL

ACN 009 253 187

Level 40, Exchange Plaza 2 The Esplanade, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Email: gsolomon@tasmanresources.com.au Website: www.tasmanresources.com.au

AUSTRALIAN STOCK EXCHANGE ANNOUNCEMENT ISSUE OF ORDINARY FULLY PAID SHARES

The Board of Tasman Resources NL ("Tasman" or "the Company") has today closed the previously announced placement issue parsuant to the prospectus dated 28 October 2003 ("the Placement Prospectus"). Applications and payment for a total of 10,236,500 fully paid ordinary shares at 12 cents pursuant to this prospectus were received. This includes 2,266,000 shares that were issued on 4 November 2003 (announced to the ASX on 4 November 2003) and a further 7,970,500 shares that will be issued as soon as the application payments are cleared.

A summary of the total number of fully paid ordinary shares that have been issued (including those referred to in the ASX announcement of 4 November 2003) or agreed to be issued by way of placement is as follows:-

Number of Shares	Amount Raised
$3,550,000$ shares at 10 cents -	\$355,000
$10,236,500$ shares at 12 cents - (pursuant to the Placement Prospectus)	\$1,228,380
Total shares 13,786,500 (issued or agreed to be issued)	$$1,583,380*$

*before expenses of the issue

Commission of 6% is payable to Australian Financial Services Licencees in respect of funds raised by them. All of these shares were issued pursuant to the resolutions passed by Members at the General Meeting of the Company held on 28 October 2003.

The funds will be used for working capital, for the current drilling programme at Titan and the ongoing exploration programme.

Raymond F. Buscall Company Secretary 6 November 2003