TESORO GOLD LTD — Net Asset Value 2006

Oct 12, 2006

vanEyk These Piles

TO:	COMPANY ANNOUNCEMENTS OFFICE
	COMPANY: AUSTRALIAN STOCK EXCHANGE LIMITED
FROM:	VAN EYK THREE PILLARS LIMITED
DATE:	13 October 2006
NO. OF PAGES: 1

Notification of Net Tangible Assets

We hereby provide notification of van Eyk Three Pillars Limited's net tangible asset backing per ordinary share as at the close of the last month.

Net Tangible Asset Backing per Ordinary Share
Month End	September 2006
Gross Tangible Asset Backing * (prior to deferred tax)	\$1.27
Less Net Deferred Tax	$\$0.0$
Net Tangible Asset Backing	\$1.20

*This amount is net of any current tax liabilities.

Net tangible asset backing includes investments at current market value less associated selling costs and provision for tax at 30%.

P. Roberts Company Secretary