TESORO GOLD LTD — Net Asset Value 2006

Jul 13, 2006

vantiyk Three Miller

COMPANY ANNOUNCEMENTS OFFICE
AUSTRALIAN STOCK EXCHANGE LIMITED
VAN EYK THREE PILLARS LIMITED
14 July 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	June 2006
Gross Tangible Asset Backing (prior to deferred tax and provision for dividend declared)	\$1.34
Dividend payable	$($ \$0.04)
Gross Tangible Asset Backing (prior to deferred tax)	\$1.30
Less Net Deferred Tax	$($ \$0.10)
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%.