TESORO GOLD LTD — Capital/Financing Update 2014

Aug 14, 2014

Continuation Investments Limited

CAPITAL STRUCTURE

NET TANGIBLE ASSETS AS AT 31 JULY 2014	NET TANGIBLE ASSETS AS AT 31 JULY 2014
	31 JULY 2014
	Cents
Gross Tangible Asset backing1	7.35
Deferred tax asset on realised tax losses	-
NTA after tax on realised income/gains and/or losses	7.35
Deferred tax asset / (liability) on unrealised positions	-
NTA after tax on unrealised gains and/or losses	7.35

Shares: 19.86m Options: 2.25m Cash: $1.48m (June 2014) Debt: Nil

BOARD & MANAGEMENT

Mr Jeremy King Chairman

Mr Andrew Worland Non-Executive Director

Mr David Church Non-Executive Director

Ms Sarah Smith Company Secretary

1. Gross Tangible Asset Backing:

2. includes investments at current market value less associated selling costs

REGISTERED OFFICE 945 Wellington Street West Perth WA 6005

• is before Deferred Tax Asset on realised tax losses

• is before any Deferred Tax on unrealised investment gains/losses

CONTACT DETAILS Tel: +61 8 9322 7600 Fax: +61 8 9322 7602

Comments:

The Net Tangible Assets quoted above are based on unaudited financial accounts.

The Company has recently entered into a binding Heads of Agreement to acquire a medical technology company, The BioFusionary Corporation, Inc. ( TBC ) as announced to the Australian Stock Exchange on 29 July 2014 ( Acquisition ).

TBC has developed a powerful new and proprietary electromagnetic induction technology platform that is expected to offer tools for medical practitioners to shape, tighten, fuse and seal tissues, addressing multi-billion dollar market opportunities in aesthetics and surgery.

SHARE REGISTRY Automic Registry Services 7 Ventnor Avenue West Perth WA 6005

ASX CODE COT

It has achieved FDA clearance for its first product, the BioFusionary Bebe[TM] , and first sales are anticipated to be achieved in the US in Q4 2014 prior to a global launch in 2015. The Biofusionary Bebe[TM] is a non-invasive energy-based cosmetic skin rejuvenation system designed to provide a safe, effective alternative to current skin rejuvenation procedures. It is a disruptive technology in a market that is ripe for new technology.

In the months of July and August 2014, the Company has invested a total of $US300,000 into TBC in accordance with the terms of the Acquisition.

Please note that in addition to the net assets noted above, which equate to $1.460 million the Company also holds approximately $198,000 of cash to which it is not entitled, being unpresented cheques from past distributions.

The Company earns interest on such unclaimed monies until they are claimed or passed to the relevant authorities, as unclaimed monies.

For and on behalf of the Board

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Jeremy King Chairman