TASMAN RESOURCES LTD — Capital/Financing Update 2012

Sep 3, 2012

ACN 009 253 187

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

4 September 2012

VULCAN PROSPECT

First drilling underway in Tasman – Rio Tinto Exploration Farm-in/Joint Venture agreement

Tasman Resources Limited (ASX: “TAS”) is pleased to announce the commencement this week of drilling within the southern portion of the Vulcan Prospect in South Australia under its Farm-in/Joint Venture agreement (the Agreement) with Rio Tinto Exploration Pty Limited (RTX) which was recently declared unconditional following an Aboriginal Heritage Clearance survey (see ASX release dated 6 August 2012).

The Vulcan Prospect, an Iron Oxide, Copper, Gold, Uranium (IOCGU) prospect first identified by Tasman in 2009, is located 30km north of Olympic Dam and is defined by a large gravity anomaly approximately 12km[2] in area and is comparable in size to the area of Olympic Dam.

The 12,000 metre drilling program under the Agreement (the Initial Exploration Program) will focus on the previously undrilled, high priority, southern portion of the Vulcan Prospect. Tasman has previously completed 8 drill holes within the northern portion of the Vulcan Prospect (see Figure 1), each having intersected IOCGU-style alteration and/or mineralization.

Prior to the commencement of the Initial Exploration Program, Tasman previously received from Rio Tinto initial payments totalling $10 million (the First Milestone Payment). Tasman will fund the Initial Exploration Program from the First Milestone Payment and will conduct, operate and complete the Initial Exploration Program in consultation with RTX. The Initial Exploration Program is to be completed within 12 months.

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Greg Solomon Executive Chairman

Level 15, 197 St George’s Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Website: www.tasmanresources.com.au

ASX Announcement 04 September 2012

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Figure 1: Vulcan Project: residual gravity image showing completed drill holes within the northern portion of the Vulcan Prospect.

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