TASMAN RESOURCES LTD — Capital/Financing Update 2004

Dec 21, 2004

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 5955 Email: rbuscall@tasmanresources.com.au Website: www.tasmanresources.com.au

AUSTRALIAN STOCK EXCHANGE ANNOUNCEMENT 22 DECEMBER 2004

ISSUE OF ORDINARY FULLY PAID SHARES

Further to the ASX announcement of 15 December 2004 Tasman Resources NL ("the Company") announces it has issued a further 3.248.273 fully paid ordinary shares together with one for four free attaching options (812,068) (issued under the same terms and conditions as the existing listed options, - to acquire fully paid ordinary shares at 20 cents per share on or before 28 February 2006 per share) at an issue price of 22 cents per share raising a further \$714,620. These shares and options, together with the 5,010,000 shares and 1,252,500 options referred to in the ASX announcement of 15 December 2004 were all issued pursuant to a prospectus issued by the company dated 30 November 2004 and under the 15% placement rule of the Australian Stock Exchange Listing Rules. A commission of 5% is payable to Australian Financial Services Licensees. The prospectus has now closed and a total of \$1,816,820 was raised through the issue of a total of 8,258,273 shares and 2,064,568 options (the aggregate of the shares and options referred to above).

The funds will be used to fund:

• additional exploration at the Company's 100% owned Lake Torrens Project and other $\bullet$ tenements in South Australia which will include an expanded drilling program at the Marathon Prospect:
• additional capital to meet the Company's other ongoing exploration commitments in South Australia covering gold, base metals and diamonds;
• the Company's ongoing working capital requirements.

Gregory H. Solomon Executive Chairman