TASMAN RESOURCES LTD — Capital/Financing Update 2011

May 24, 2011

ACN 009 253 187

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

25 May 2011

PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE

The non-renounceable pro-rata rights offer ( Offer ) made to shareholders of Tasman Resources Ltd ( Tasman ) who were on the register as at 5:00pm WST on 5 May 2011 pursuant to the offer document dated 15 April 2011 closed on 20 May 2011.

Tasman received acceptances under the Offer for a total of 7,171,886 ordinary fully paid shares ( Shares ), together with 1,793,097 options each to acquire 1 Share at an exercise price of $0.10 per Share at any time up to and including 30 June 2012 ( Options ), raising a total of $717,188.60. This represented approximately 42% of the total number of new Shares offered to eligible shareholders pursuant to the Offer. Tasman did not receive valid acceptances under the Offer for 9,737,221 Shares and 2,434,180 accompanying Options ( Shortfall Securities ). Tasman reserved the right in the offer document for the Offer to place any Shortfall Securities within 3 months after the closing date of the Offer at a price which is not less than the price at which the Shares were offered under the Offer.

Holding statements for the new Shares (and accompanying new Options) subscribed for under the Offer will be despatched on 27 May 2011.

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Aaron Gates Company Secretary

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