TANAMI GOLD NL — Capital/Financing Update 2007

Jun 4, 2007

TANAMI GOLD NL

5 June 2007

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

Dear Sir

PLACEMENT TO RAISE \$20 MILLION FOR COYOTE GOLD PROJECT AND INCREASED EXPLORATION PROGRAMS

The Directors of Tanami Gold NL ("Tanami" "the Company") are pleased to announce that the Company has arranged the placement of up to 154 million shares at an issue price of A\$0.13 per share to raise up to approximately A\$20 million. The placement will be made to existing international and domestic institutional and sophisticated investor shareholders of Tanami and new investors introduced by Foster Stockbroking Pty Ltd.

The Company will allot the placement shares in two tranches, with 104 million shares to be allotted upon receipt of placement monies expected within one week and a further 50 million shares following the receipt of placement monies and shareholder approval at a General Meeting of shareholders to be held in mid July 2007.

The monies raised will be applied to the ongoing development of the Covote Gold Project including:

• upgrading of the CIP treatment plant including the installation of additional leach tanks; ٠
• upgrading of the accommodation camp; $\bullet$
• the decline and underground development which will provide access to the high grade $\bullet$ underground ore:
• a substantial drill program focussed on the conversion of resources into reserves;
• drill testing down plunge and along strike extensions to the Coyote deposit and known $\bullet$ satellite targets; and
• regional drill programs targeting additional resources for the Coyote Gold Project and new ۰ discoveries.

Upon completion of the placement Tanami will be well funded, with no debt and no hedging.

Yours faithfully Tanami Gold NL

Remin Wader

Denis Waddell Executive Chairman