TANAMI GOLD NL — Capital/Financing Update 2007

Oct 2, 2007

TANAMI GOLD NL

3 October 2007

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

Dear Sir

COYOTE – SEPTEMBER 2007 GOLD PRODUCTION EXCEEDS BUDGET

The Directors are pleased to announce that September 2007 gold production at the Coyote Gold Project was 2,361 ounces which exceeded the budget of 2,286 ounces.

September 2007 gold production is the first time monthly production has exceeded 2,000 ounces and reflects the higher ore tonnage and grade being achieved as the open pit deepens.

==> picture [275 x 29] intentionally omitted <==

==> picture [275 x 29] intentionally omitted <==

==> picture [275 x 30] intentionally omitted <==

==> picture [275 x 29] intentionally omitted <==

==> picture [275 x 30] intentionally omitted <==

==> picture [275 x 29] intentionally omitted <==

Gold production has been steadily increasing in recent months with the September 2007 production level exceeding the Company's targeted annualised production rate of 25,000 ounces per annum from open pit mining. Production will continue to be ramped up to a minimum 50,000 ounces per annum by 30 June 2008 following the mining and treatment of high grade (+12g/t gold) underground ore which is planned to be accessed by the March 2008 quarter. The development of the underground portal and decline is on schedule to commence by the end of November 2007.

The Company remains debt and gold hedge free.

Yours faithfully

Tanami Gold NL

==> picture [175 x 22] intentionally omitted <==

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