Annual Report EL 28282 Suplejack, Central Tanami Project from 20 April 2011 to 19 April 2012

Abstract

In its first year of tenure no on ground exploration was conducted as TNT focused its exploration activities on other tenements in the Central Tanami Project and a pre-feasibility study for the Central Tanami Mine. Work by TNT has been limited to a desktop assessment of EL 28282 which included a mineral resource estimation for the Crusade deposit. A resource estimate of 2.01mt at 2.26g (146,000oz) was calculated for the Crusade area based on historical drilling (the most recent drilling took place in 1996). The interpretation and estimation was carried out in Micromine using 3D Wireframing and block model estimation by Ordinary Kriging. The 2011 resource estimate has resulted in a 19 percent increase of the number of ounces from the previous mid 1990s resource estimate prepared by Otter Gold NL.