Fourth annual report EL 23122 'Krakatoa' for year ending 5 February 2007

Abstract

Tanami Gold NL identified the potential for Palaeoproterozoic gold mineralisation and Neoproterozoic base metals mineralisation in the Home of Bullion region of Central Australia in 1998. The tenements of the Home of Bullion Project are situated in Central Australia, approximately 230 kilometres north of Alice Springs. The tenements are situated in close proximity to the boundary between the Arunta Region and the Southern Georgina Basin. EL 23122 'Krakatoa' is the remaining tenement in the Home of Bullion Project. It was granted on 3 February 2003 to Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL). Exploration in 2006 consisted of regional rock chip sampling over the Ledan corridor. A total of three samples taken on EL 23122 returned a best result of 193 ppb (0.193 ppm) Au from float derived from a coarsely crystalline massive quartz (50%)-specular haematite (50%) vein.