TESORO GOLD LTD — Capital/Financing Update 2006

Jun 13, 2006

vanEyk Trae Maar

TO: COMPANY ANNOUNCEMENTS OFFICE

COMPANY: AUSTRALIAN STOCK EXCHANGE LIMITED

FROM: VAN EYK THREE PILLARS LIMITED

14^th JUNE 2006 DATE:

NO. OF PAGES: 1

The Directors of van Eyk Three Pillars Limited (VTP) are pleased to announce the introduction of a Share Purchase Plan (SPP).

Under the SPP, ordinary shareholders of VTP resident in Australia or New Zealand will be provided with the opportunity to apply for \$1,000, \$3,000 or \$5,000 of VTP shares at a discount of 2.5% to the market price of the company's shares. No brokerage will be payable by shareholders on the issue of shares under the SPP.

Information will be sent to shareholders on 7^th July 2006 including the SPP Application form and Terms and conditions.

Note that the Record Date for the SPP offer will be 23rd June 2006.

Shareholders wishing to participate in the SPP will have until 5pm on 5^th August 2006 to lodge their acceptance form.

P. Roberts Company Secretary