TESORO GOLD LTD — Net Asset Value 2006

Jan 12, 2006

vantiyk Three Miller

TO:	COMPANY ANNOUNCEMENTS OFFICE
COMPANY: I	AUSTRALIAN STOCK EXCHANGE LIMITED
FROM:	VAN EYK THREE PILLARS LIMITED
DATE:	13 January 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	December 2005
Gross Tangible Asset Backing (prior to deferred tax)	\$1.26
Less Net Deferred Tax	(\$0.09)
Net Tangible Asset Backing	\$1.17

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

Van Eyk Three Pillars Limited ABN: ABN 91 106 854 175