TANAMI GOLD NL — Capital/Financing Update 2007

Nov 7, 2007

TANAMI GOLD NL

8 November 2007

The Manager Company Announcement Office ASX Limited Exchange Centre, Level 4, 20 Bridge Street SYDNEY NSW 2000

Dear Sir

COYOTE - GOLD PRODUCTION INCREASE

The Directors are pleased to report continued improvement in gold production at the Coyote Gold Project as the open pit deepens and as the Project progresses towards development of the underground mine.

Gold production for the month of October 2007 was 3,170 ounces giving a further upward trend in production from the 2,361 ounces produced in September 2007. During October 2007, 19,998 tonnes were treated at a head grade of 5.19g/t Au with recoveries of 94.9%.

As reported on 1 November 2007, the first parcel of high grade ore from the Gonzales Lode was treated in late October 2007 which contributed to the increased production. The recovered grade from the Gonzales Lode ore is very pleasing and further increases the Company's confidence in the high grade (+13g/t Au) underground orebody.

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The Coyote Gold Project is on track for commencement of the underground mine with the development drill rig (Jumbo) due to be mobilised to site from Melbourne on 16 November 2007 to commence the portal and decline development.

Following completion of the A$33 million placement announced on 6 November 2007, the Company is fully funded to develop the Coyote Gold Project, remains debt free and is highly leveraged to the rising gold price with no gold hedging in place.

Yours faithfully

Tanami Gold NL

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Denis Waddell Executive Chairman

Level 4, 50 Colin Street, West Perth, Western Australia, 6005 � P.O. Box 1892, West Perth, Western Australia, 6872 Tel: +61 (8) 9212 5999 � Fax: +61 (8) 9212 5900 � Email: tanamigold@tanami.com.au � Website: www.tanami.com.au. � ABN: 51 000 617 176