TASMAN RESOURCES LTD — Capital/Financing Update 2011

Oct 16, 2011

ACN 009 253 187

==> picture [159 x 62] intentionally omitted <==

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

17 OCTOBER 2011

CAPITAL RAISING

The directors wish to advise that they have agreed to make placements up to the value of $2,000,000 by the issuing of up to 13,333,333 fully paid ordinary shares (an increase of 6.35% over the previously issued shares) at an issue price of $0.15 per share to professional and sophisticated investors in accordance with section 708 of the Corporations Act 2001 (“the Act”) and under the 15% placement rule of the Australian Securities Exchange Listing Rules.

A commission of 5% of the value of the funds raised is payable to financial services licencees in respect of the placement.

The funds raised will be used to fund the Company’s general working capital requirements.

==> picture [174 x 31] intentionally omitted <==

Gregory H. Solomon Executive Chairman

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