TASMAN RESOURCES LTD — Capital/Financing Update 2009

Oct 26, 2009

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

TASMAN RESOURCES LTD

ABN

85 009 253 187

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

⁺Class of ⁺securities issued or to $\mathbf 1$ be issued

Fully paid ordinary shares

• Number of *securities issued or 16,833,333 $\overline{2}$ to be issued (if known) or maximum number which may be issued
• Principal terms of the ⁺securities $\overline{\mathbf{3}}$ (eg, if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for $if$ +convertible payment; securities, the conversion price and dates for conversion)

Fully paid ordinary shares

4	Do the 'securities rank equally in all respects from the date of allotment with an existing + class of quoted *securities?	Yes
	If the additional securities do not rank equally, please state: the date from which they do
	the extent to which they for the participate next dividend, (in the case of a trust, distribution) or interest payment
	the extent to which they do not rank equally, other than in relation to the next dividend, distribution interest Оľ payment
5.	Issue price or consideration	\$1,515,000.00
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Working Capital
7	Dates of entering + securities into uncertificated holdings or despatch of certificates	23 October 2009
		Number	+ Class
8	Number and + class of all + securities quoted on ASX.	177,541,526	Fully paid ordinary shares
	the securities including) in clause 2 if applicable)	30,131,775	\$0.20 31 December 2009 options
		20,612,633	\$0.10 30 June 2012 options

	Number	+ Class
Number and $t$ class of all $6,074,804$ *securities not quoted on ASX (including the securities in clause 2 if applicable)		Options issued to under employees ESOP

Dividend policy (in the case of a
trust, distribution policy) on the
increased capital (interests) $10$

Part 2 - Bonus issue or pro rata issue

$\mathbf{u}$	holder approval security Is required?
12	Is the issue renounceable or non- renounceable?
13	Ratio in which the + securities will be offered
14	+ Class of + securities to which the offer relates
15	determine date + Record to entitlements
16	different Will holdings on registers (or subregisters) be calculating aggregated for entitlements?
17	Policy for deciding entitlements in relation to fractions
18	Names of countries in which the entity has *security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.
19	of Closing date for receipt acceptances or renunciations

⁺ See chapter 19 for defined terms.

Appendix 3B New issue announcement

20	Names of any underwriters
21	Amount of any underwriting fee or commission
22	Names of any brokers to the
	issue
23	Fee or commission payable to the
	broker to the issue
24	Amount of any handling fee
	payable to brokers who lodge acceptances or renunciations on
	behalf of *security holders
25	If the issue is contingent on
	*security holders' approval, the date of the meeting
26	Date entitlement and acceptance form and prospectus or Product
	Disclosure Statement will be sent to persons entitled
27	If the entity has issued options, and the terms entitle option
	participate holders to on
	exercise, the date on which notices will be sent to option
	holders
28	Date rights trading will begin (if
	applicable)
29	Date rights trading will end (if
	applicable)
30	How do *security holders sell
	their entitlements in full through a broker?
31	How do 'security holders sell their entitlements of part
	through a broker and accept for the balance?

How do ⁺security holders dispose 32 of their entitlements (except by sale through a broker)?

*Despatch date 33

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Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

Type of securities $34$ (tick one)

$(a)$

• Securities described in Part 1
• $(b)$ All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Tick to indicate you are providing the information or

Additional securities forming a new class of securities

aocuments
35	If the 'securities are 'equity securities, the names of the 20 largest holders of the additional securities, and the number and percentage of additional securities held by those holders
36	If the securities are equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ 5,001 - 10,000 10,001 - 100,000 100,001 and over
37	A copy of any trust deed for the additional *securities
	This information will be provided after the non-renounceable rights issue has closed.

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b) Number of securities for which 38 ⁺quotation is sought Class of ⁺securities for which 39 quotation is sought Do the ⁺securities rank equally in 40 all respects from the date of allotment with an existing ⁺class of quoted *securities? If the additional securities do not rank equally, please state: • the date from which they do the extent to which they $\bullet$ participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do $\bullet$ not rank equally, other than in relation to the next dividend, interest distribution $\alpha$ payment Reason for request for quotation $4¹$ now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number ⁺Class and ⁺class of all Number $42$ $^{\ast}$ securities quoted on ASX (including the securities in clause 38)

Quotation agreement

• *Ouotation of our additional *securities is in ASX's absolute discretion. ASX $\mathbf{I}$ may quote the *securities on any conditions it decides.
• We warrant the following to ASX. $\overline{\mathbf{2}}$
• The issue of the 'securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the 'securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any 'securities to be quoted and that no-one has any right to return any 'securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the 'securities be quoted.
• We will indemnify ASX to the fullest extent permitted by law in respect of any $\overline{\mathbf{3}}$ claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Date: 26 October 2009

Sign here:

Company Secretary

Print name:

Aaron Philip Gates

$== == == == == ==$

⁺ See chapter 19 for defined terms.