TESORO GOLD LTD — Fund Information / Factsheet 2011

Dec 13, 2011

vanEYK THREE PILLARS LIMITED

NET TANGIBLE ASSETS AS AT 30 NOVEMBER 2011

	30 November 2011
	Cents
Gross Tangible Asset backing1	72.0
Deferred tax asset on realised tax losses	-
NTA after tax on realised income/gains and/or losses	72.0
Deferred tax asset / (liability) on unrealisedpositions	-
NTA after tax on unrealisedgains and/or losses	72.0

1. Gross Tangible Asset Backing:

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

3. is before Deferred Tax Asset on realised tax losses

4. is before any Deferred Tax on unrealised investment gains/losses

Comments:

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

The Company will hold its 2011 AGM on 19 December 2011 at 10.00am. At the present time, due to global equity market volatility, the Company continues to hold cash assets, although expects to make selected equity investments prior to 31 December 2011. In addition to the net assets noted above, which equate to $1.4million, the Company also holds approximately $240,000 of cash to which it is not entitled, being unpresented cheques from past distributions (including the recent off market buyback) upon which it earns interest until they are claimed or pass to the relevant authorities, after an appropriate period, as unclaimed monies.

Andrew Brown Executive Chairman

For further enquiries: (02) 9380 2876 / 0418 215 255

______________ vanEyk Three Pillars Limited Suite 7.09 2-14 Kings Cross Road POTTS POINT NSW 2011 ABN 91 106 854 175 phone: (02) 9380 2876 fax: (02) 8354 0923 email: admin@tidewater.com.au