Second Annual Report EL 23888 Stafford Reynolds Range Project for year ending 11 August 2006

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 in the Proterozoic basement rocks. The tenement is 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. It was granted to Newmont Australia Pty Ltd (Newmont) on 12 August 2004. Transfer of 100% ownership of EL 23888, from Newmont to TENL, was lodged on 17 August 2006 and is pending registration. The tenements of the Reynolds Range Project lie in Central Australia centred approximately 225 kilometres north-northwest of Alice Springs. They are situated in the central part of the Aileron Province of the Arunta Region and are covered by the Mount Peake, Napperby, Mount Doreen and Mount Theo 1 : 250,000 Geological Sheets. Exploration on EL 23888 included geological and regolith mapping and interpretation, rock chip and vegetation sampling, RAB, Aircore and SLRC drilling in two drilling phases.