Fourth combined annual report for EL 8696, EL 8697, EL 9442 and EL 9449 for the year ending 21 August 2006

Abstract

The Lake Mackay Project is located approximately 460km WNW of Alice in the western Arunta region. The project comprises four granted Exploration Licences - EL 8696, 8697, 9442 and 9449. All tenements are registered to Tanami Exploration (TENL), a wholly owned subsidiary of Tanami Gold NL (TGNL), a publicly listed company. Previous exploration has outlined several prospects within the Lake Mackay Project area. In the first two years of tenure previous managers Newmont Gold Exploration Pty Ltd (Newmont Gold) defined the Taupo, Te-Anau and Manapouri anomalies. Geochemical sampling and RAB drilling by TENL in the third year identified the Whakatipu, Tekapo and Ohau anomalies. Exploration in the fourth year of tenure is discussed in this report. TENL carried out rock chip and lag sampling at Taupo, Ohau, Manapouri and Tekapo, and RAB / Aircore drilling at Ohau, Taupo, Tekapo and Whakatipu.