TASMAN RESOURCES LTD — Capital/Financing Update 2019

Sep 15, 2019

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ACN 009 253 187

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

16 SEPTEMBER 2019

EDENCRETE[®] - GDOT UPDATE

Please see attached an ASX Announcement by Eden Innovations Ltd (ASX: EDE) for further details.

Background

Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 624,634,707 fully paid shares in Eden representing 36.24% of the total issued capital of Eden Innovations Ltd and 14,814,815 EDEOB options (representing 21.26% of the issued EDEOB options).

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Aaron Gates Company Secretary

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

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

16 September 2019

EdenCrete® - GDOT Update

HIGHLIGHTS

• GDOT – EdenCrete ® Accepted for Use in Mainline Paving

• Second FHWA/ GDOT Funded Repair Project (on I-285) Commences

DETAILS

Eden Innovations Ltd (Eden) (ASX: EDE) is pleased to announce that the EdenCrete® continues making progress with Georgia Department of Transportation (“GDOT”).

GDOT – EdenCrete ® Accepted for Use in Mainline Paving

Following the successful completion of a 12 months field trial, EdenCrete® has been accepted for use on GDOT construction and maintenance projects for mainline paving. The trial which took place on a state highway in Comer County, Georgia involved adding EdenCrete®, at 2 US gallons (7.57 litres) per cubic yard (0.7645 cubic metres) of concrete into 80 yards (73.15 metres) of two lane of new highway ( see Figure 1 below ).

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Figure 1. Completed section of highway with added EdenCrete

Eden Innovations Ltd | Telephone +61 8 9282 5889 Level 15, 197 St George’s Terrace, Perth, Western Australia 6000, Australia | edeninnovations.com

The successful completion of the 12 months evaluation undertaken by GDOT, that only commenced after the new roadway was opened to traffic, and was completed earlier in 2019, has resulted in the GDOT New Products Evaluation Committee having now accepted EdenCrete® for use in the construction and maintenance of new concrete pavements under GDOT Specifications Section 430 and/or 439.

This successful outcome opens the way for the possible future participation of EdenCrete® in the construction of new roads and highways in Georgia, the annual budget for which currently exceeds US$700 million per annum.

This approval is considered likely to be of importance not only in Georgia, but also in opening up access to new concrete highway construction in other markets, not only in the USA and also other countries.

In particular, in both India (which is planning a major increase in the rate of construction of concrete roads and highways) and Korea (which has a significant percentage of concrete roads and highways that are subject to extreme and harsh weather conditions) where Eden has commenced marketing of its EdenCrete® products for various applications (including concrete highway construction and maintenance), strong and highly encouraging initial interest has recently been received.

Second FHWA/ GDOT Funded Repair Project (on I-285) Commences

The second GDOT/ Federal Highway Administration (FHWA) funded project, expected to involve pavement repairs along 11 miles of the I-285 Interstate Highway, which includes EdenCrete®, has commenced. The project specifications currently require the use of approximately US$250,000 worth of EdenCrete®, but the scope of the project is likely to be increased, perhaps by up to 3040%, as further repairs are added to the initial scope.

This project follows the first GDOT/ FHWA funded project that was completed earlier in 2019 and which commenced as a project that would have required US$525,000 worth of EdenCrete®, but ended with more than US$720,000 worth of EdenCrete® being required.

SUMMARY

The acceptance by GDOT of EdenCrete® for use in new concrete pavement construction and maintenance projects following a successful 12 months field trial, and the repeated inclusion of EdenCrete® in large, jointly Federally funded US Interstate highway repair projects, represent further important progress in the consolidation and expansion of the EdenCrete® footprint in the Georgia infrastructure market.

Additionally, these developments are considered likely to be both persuasive and to assist in gaining access to similar infrastructure markets, not only in other States of the USA, but also in other countries including India and Korea, in both of which Eden has commenced marketing its EdenCrete® products.

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EdenCrete® Background

The EdenCrete[®] range of products are Eden’s 100% owned, proprietary carbon-strengthened concrete additives that enhance a wide range of performance characteristics of the concrete including compressive strength, flexural strength, tensile strength, abrasion resistance, reduced permeability, increased modulus of elasticity, and reduced shrinkage, delivering stronger, tougher, more durable and longer lasting concrete.

One of the primary target markets for the EdenCrete[®] products is improving the performance of concrete used in the construction and maintenance of concrete roads, bridges and other infrastructure, particularly where it is subject to heavy wear, freeze/thaw weather conditions and/or high levels of added salt.

Additionally, it has potential for use in most other concrete applications including high-rise building construction, marine and coastal applications, water storage and pipelines, hardstand areas, warehouses, and a wide range of shotcrete applications, ready mix concrete applications and prestressed and pre-cast concrete structures and products.

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Gregory H. Solomon Executive Chairman

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