Manbarrum Project Combined Annual Report EL 24395 (16 August 2006 to 24 September 2007) EL 25470 (5 March 2007 to 24 September 2007) EL 25646 (23 August 2007 to 24 September 2007) A 24518 (25 August 2007 to 24 September 2007)

Abstract

The Manbarrum Project is 100% owned by Tennant Creek Gold (NT) Pty Ltd, a wholly owned subsidiary of TNG Limited. The project comprises four exploration titles, covering a 50 kilometre strike length of the Bonaparte Shelf margin, where widespread Mississipi Valley Type (MVT) Zinc-Lead-Silver mineralisation occurs. TNG's primary objective is to delineate a significant inventory of zinc-lead-silver resources in the project area. The Sandy Creek deposit, located in the south west corner of the Manbarrum Project, has been the core focus of TNG's exploration programs to date. Following completion of the initial drilling program carried out in 2006, a preliminary resource estimate of 10.5 million tonnes at 3.6% combined Zn/Pb grade was defined at Sandy Creek. The Company has identified a number of additional geophysical and geochemical targets within its broader tenement area which represent priority exploration targets for further MVT-style mineralisation along strike from Sandy Creek. An extensive exploration program was carried out within the 2006-2007 reporting period including detailed geophysical surveys, reverse circulation (RC) drilling and diamond drilling of key targets. Following the success of the 2006 IP survey, this technique was considered a primary tool for the definition and location of further targets. From May through to August 2007. Search Exploration were contracted and completed 37 DDIP traverses over the Manbarrum Project area. The traverses were undertaken over the Sandy Creek, Browns, Dijibitgun and Landandi prospects; with regional travel traverses being undertaken in-between these. Seven of the traverses over the Sandy Creek prospect used a 100m transmitter dipole with 50m receiver dipoles and 50m station moves, the remaining 30 traverses were collected using a 200m transmitter dipole with 100m receiver dipoles and 100m station moves. The traverses that passed over topographic highs were broken so as not to disturb the ground over these topographic features. This resulted in breaks in the data coverage for those lines, hence they are labelled in segments. Approximately 80 line kilometres of data were collected in 2007. A total of 141 RC and diamond drillholes for 27,202.6m were drilled over the Sandy Creek, NEIP and Djibitgun deposits up to and including 24 September 2007.