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TESORO GOLD LTD Capital/Financing Update 2010

Jan 21, 2010

65957_rns_2010-01-21_47e5e15e-d0df-45ef-8a54-d21f88aec939.pdf

Capital/Financing Update

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TO: COMPANY ANNOUNCEMENTS OFFICE COMPANY: AUSTRALIAN SECURITIES EXCHANGE LIMITED FROM: VAN EYK THREE PILLARS LIMITED DATE: 22 JANUARY 2010

NO. OF PAGES: 1

Temporary Suspension of Buyback pending announcement of Strategic Review

The board of Van Eyk Three Pillars today is pleased to announce that its strategic review is progressing very well. Substantial progress has been made by the board since being elected on 29 September 2009. The board expects to be able to announce the results of the strategic review to the market and all shareholders within the next month.

Given the status of the strategic review, the board has determined that it would be prudent to suspend the buyback until the announcement of the results of the strategic review.

The board is being advised by PricewaterhouseCoopers and Gilbert & Tobin in relation to the strategic review.

Stuart Nisbett Chairman

Media Enquires

Alan Deans, Partner, Last Word Corporate Communications 0427 490 992

van Eyk Three Pillars Limited ABN 91 106 854 175 GILBERT + TOBIN, Level 37, 2 Park Street, Sydney, NSW, 2000 P 1300 732 413

www.vaneyk.com.au www.threepillars.vaneyk.com.au