Partial Relinquishment Report EL 23650 Depot Creek, Winnecke Project 11 April 2003 to 10 April 2006

Abstract

EL 23650 'Depot Creek' covers the Winnecke Goldfield, Central Australia, approximately 65 kilometres northeast of Alice Springs (Figure 1). The tenement was granted on 11 April 2003 to Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. After three years of tenure the tenement was reduced in size pursuant to the requirements of section 26 of the NT Mining Act. Exploration on the portion of EL 23650 relinquished in April 2006 is the subject of this report. The relinquished tenement area is interpreted to be underlain by Cadney Metamorphics. Geo Discovery Group Pty Ltd (Geodiscovery) on behalf of BHP Billiton / Teck Cominco Australia Pty Ltd (Teck) completed geochemical sampling (8 rock chip samples and 37 soil samples) together with two ground magnetic traverses. No significant base metal anomalism was detected. TENL completed an assessment of previous exploration, regional geological mapping and geochemical sampling. A stratigraphic traverse and rock chip sampling (2 samples) across the western part of EL 23650 'Depot Creek' returned no elevated gold results.