TANAMI GOLD NL — Capital/Financing Update 2007

Jun 12, 2007

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

TANAMI GOLD NL

ABN

51 000 617 176

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued

104,000,000.

Shares.

• Number of ⁺securities issued or to $\overline{2}$ be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if partly paid ⁺securities, the amount outstanding and due dates for payment; if securities. *convertible the conversion price and dates for conversion)

Ordinary fully paid shares.

⁺ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing + class of quoted securities? If the additional securities do not rank equally, please state: the date from which they do which extent to the they participate for the next dividend, $(in$ the case of a trust, distribution) or interest payment the extent to which they do not ۰ rank equally, other than in relation to the next dividend, distribution or interest payment	Yes.
5	Issue price or consideration	\$0.13 per share.
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The funds raised from the issue will be applied to the ongoing development of the Coyote Gold Project and exploration programs including: i. upgrading of the CIP treatment plant including the installation of additional leach tanks; ii. upgrading of the accommodation camp; the decline and underground development iii. which will provide access to the high grade underground ore; a substantial drill program focussed on the iv. conversion of resources into reserves; drill testing down plunge and along strike $\mathbf{v}_{\star}$ extensions to the Coyote deposit and known satellite targets; and regional drill programs targeting additional vi. – resources for the Coyote Gold Project and new discoveries.
7	Dates of entering + securities into uncertificated holdings or despatch of certificates	12-15 June 2007.
		+ Class Number
8	+ class Number and of all *securities ASX quoted $_{\text{on}}$ (including the securities in clause 2 if applicable)	799,463,353 fully Ordinary shares.	paid

⁺ See chapter 19 for defined terms.

Number ⁺Class 9 Number and *class of all 39,650,000 Unlisted options. *securities not quoted on ASX (including the securities in clause 2 if applicable) $10¹⁰$ Dividend policy (in the case of a Not Applicable trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

Questions 11 to 33 Not Applicable

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities (tick one)

$(a)$

$(b)$

Securities described in Part 1

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Questions 35 to 37 - Not Applicable

Entities that have ticked box 34(b)

Questions 38 to 42 - Not Applicable

⁺ See chapter 19 for defined terms.

Ouotation agreement

• *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may $\mathbf{1}$ quote the ⁺securities on any conditions it decides.
• $\overline{\mathcal{L}}$ We warrant the following to ASX.
• $\bullet$ The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation. ٠
• An offer of the "securities for sale within 12 months after their issue will not $\bullet$ require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before "quotation of the 'securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Remin Wader

Sign here:

................................... (Executive Chairman)

Date: 13 June 2007

Print name:

Denis Waddell

== == == == == =

⁺ See chapter 19 for defined terms.