TANAMI GOLD NL — Interim / Quarterly Report 2003

Oct 30, 2003

Appendix 5B

$Rule 5.3$

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

TANAMI GOLD NL

ABN

51 000 617 176

Quarter ended ("current quarter")

30 SEPTEMBER 2003

Consolidated statement of cash flows

Cash flows related to operating activities			Current quarter \$A'000	Year to date (3 months) \$A'000
1.1	Receipts from product sales and related debtors
1.2	Payments for	(a) exploration and evaluation	(451)	(451)
		(b) development (c) production
		(d) administration	(290)	(290)
1.3	Dividends received
1.4	Interest and other items of a similar nature received		19	19
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)		11	11
	Net Operating Cash Flows		(733)	(733)
	Cash flows related to investing activities
1.8	Payment for purchases of:	(a)prospects
		(b) equity investments	(1, 110)	(1, 110)
		(c) other fixed assets	(105)	(105)
1.9	Proceeds from sale of:	(a)prospects
		(b) equity investments	3	3
1.10	Loans to other entities	(c)other fixed assets
1.11	Loans repaid by other entities
1.12	Other (payment of security deposits)
	Net investing cash flows		(1, 212)	(1,212)
1.13	forward)	Total operating and investing cash flows (carried	(1, 945)	(1, 945)

⁺ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)	(1, 945)	(1,945)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings
1.18	Dividends paid
1.19	Other (provide details if material)
	Net financing cash flows
	Net increase (decrease) in cash held	(1.945)	(1,945)
1.20	Cash at beginning of quarter/year to date	2,458	2,458
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end of quarter	513	513

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter SA'000
1.23	Aggregate amount of payments to the parties included in item 1.2	(240)
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessary for an understanding of the transactions

Remuneration of directors Termination payments	(62) (170)
Consulting services	(8)

Non-cash financing and investing activities

$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

$2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

N/A

⁺ See chapter 19 for defined terms.

Financing facilities available
Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
	Loan facilities		$\sim$
3.2	Credit standby arrangements		$\sim$

Estimated cash outflows for next quarter

		\$A'000
4.1	Exploration and evaluation	300
4.2	Development	$\sim$
	Total	300

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
5.1	Cash on hand and at bank	213	202
5.2 Deposits at call 5.3 Bank overdraft Other (provide details) 5.4		300	2,256
	Total: cash at end of quarter (item 1.22)	513	2,458

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of	Interest at end of
				quarter	quarter
6.1	Interests in mining	E80/1513	Relinquished - 28 blocks	100%	0%
	tenements relinquished,	E80/1516	Relinquished - 39 blocks	100%	0%
	reduced or lapsed	E80/3128	Application withdrawn	100%	$0\%$
		EL 23803	Application withdrawn	100%	0%
		EL 23804	Application withdrawn	100%	0%
6.2	Interests in mining	EL 23966	Application - 104 blocks	0%	100%
	tenements acquired or	EL 23967	Application - 167 blocks	0%	100%
	increased	EL 23968	Application - 333 blocks	0%	100%
		EL 23990	Application - 39 blocks	0%	100%
		EL 23991	Application - 35 blocks	0%	100%

⁺ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issue price per security (see note 3)	Amount paid up per security (see note 3)
				(cents)	(cents)
7.1	Preference +securities (description)
7.2	Changes during quarter
	(a) Increases through issues
	(b) Decreases
	through returns of capital, buy-backs,
	redemptions
7.3	+Ordinary
	securities TAM	165,748,902	165,748,902
	TAMCA	85,074,451	85,074,451	20 cents	1 cent
7.4	Changes during
	quarter (a) Increases
	through issues
	(b) Decreases
	through returns of capital, buy-backs
7.5	+Convertible debt
	securities (description)
7.6	Changes during quarter
	(a) Increases through issues
	(b) Decreases
	through securities matured, converted
7.7	Options			Exercise price	Expiry date
	(description and
	conversion factor) Unlisted	830,000		20 cents	29/11/03
	Unlisted	5,650,000		20 cents	29/11/05
7.8	Issued during quarter
7.9	Exercised during quarter	$\overline{a}$
7.10	Expired during quarter
7.11	Debentures
	(totals only)
7.12	Unsecured notes (totals only)

⁺ See chapter 19 for defined terms.

Compliance statement

• This statement has been prepared under accounting policies which comply with $\mathbf{I}$ accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• $\overline{\mathcal{L}}$ This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

Our Water - 1 Sign here: ................................... (Director)

Date: 31 October 2003

Print name: Denis P Waddell

Notes

• $\mathbf{1}$ The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• $\overline{2}$ The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
• The definitions in, and provisions of, AASB 1022: Accounting for Extractive 4 Industries and AASB 1026: Statement of Cash Flows apply to this report.
• $\mathcal{L}$ Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

$\frac{1}{100000000000000000000000000000000000$

⁺ See chapter 19 for defined terms.