Relinquishment report for EL 10223 Cornelius, 22 May 2002 to 21 May 2008, Arunta Project

Abstract

EL 10223 is situated approximately 500 kilometres northwest of Alice Springs and was explored as part of the Arunta project. The tenement was granted to AngloGold Australia Limited (Anglogold) on 22 May 2002 and was purchased by Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company in June 2005. Anglogold is the current registered holder as the transfer is pending execution of a Deed of Covenant with the Central Land Council. This report describes the exploration carried out from 22 May 2002 to 21 May 2008. Exploration on the relinquished tenement portion was completed by Anglogold and TENL. It included a regional geological interpretation, a detailed aeromagnetic interpretation, reprocessing of open-file aeromagnetics, geological re-interpretation, geochemical sampling and an aircore drilling program. A summary of exploration is listed on page 1 of the company report.