TASMAN RESOURCES LTD — Capital/Financing Update 2003

Nov 4, 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

Tasman Resources NL ("the Company") announces that on 4 November 2003 it has issued a total of 5,816,000 fully paid ordinary shares.

These comprise;

• (a) 3,550,000 fully paid ordinary shares at an issue price of 10 cents per share raising a total of \$355,000.00.
• (b) A further 2,266,000 fully paid ordinary shares at an issue price of 12 cents per share raising a total of \$271,920.00 on applications received from the Placement Prospectus dated 28 October 2003.

All of these shares have been issued in accordance with the approval of members of the Company at a General Meeting held on 28 October 2003, as announced to the Australian Stock Exchange on 28 October 2003 and form part of the 15,000,000 share placement approved at that meeting. The balance of the placement will be issued progressively.

A commission of 6% is payable to holders of Australian financial services licences.

The funds raised will be used to extend or follow up the current drilling programme at the Lake Torrens Project.

INFORMATION NOTIFICATION - SECONDARY TRADING

For the purposes of Item 5 of Category 1, Schedule C of Class Order 02/1180 referred to below, the Company also notifies the ASX that all of the securities being issued will fall within Category 1 of the Class Order 02/1180 issued by the Australian Securities and Investments Commission on 29 November 2002, which alters the secondary trading provisions of the Act in specified circumstances, and that all information of the kind that would be required to be disclosed under subsection 713(5) of the Act if a prospectus were to be issued in reliance on section 713 of the Act in relation to an offer of securities has been disclosed to the ASX.

EXPLORATION UPDATE LAKE TORRENS PROJECT

TITAN DRILLING PROGRAMME

Drilling at Titan (TI 3) commenced on Monday 3 November 2003 as scheduled. This drill hole is planned to be drilled to between 800 - 850m and is likely to take 12 - 14 days to complete. Two further holes at Titan are then planned to be drilled before 15 December 2003.

Raymond F Buscall Company Secretary

Dated 4^th day of November 2003