Partial Relinquishment Report EL 23888 Stafford Reynolds Range Project from 12 August 2004 to 11 August 2008

Abstract

EL 23888 is explored as part of the Reynolds Range Project area, where Tanami Gold NL identified the potential for quartz-vein-hosted gold mineralisation within the Proterozoic basement. The tenements of the Reynolds Range Project lie in Central Australia centred approximately 225 kilometres northnorthwest of Alice Springs. The tenement was originally granted to Newmont Australia Pty Ltd (Newmont) on 12 August 2004. It was managed by Tanami Exploration NL (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company, as part of their Reynolds Range Project under an option agreement dated 28 May 2004. On 19 December 2006 EL 23888 was transferred to TENL. After three years of tenure a partial relinquishment was performed in 2007, with a second partial relinquishment completed in 2008. Exploration on the relinquished portion of EL 23888 included geological and regolith mapping and interpretation, limited rock chip sampling (18) and RAB drilling of 37 holes for 1421 metres. The rock chip sampling and RAB drilling returned no significantly elevated gold results. The maximum gold value from the rock chip sampling was 157ppb Au combined with 642ppm Cu in rock chip sample RRK057.