TIVAN LIMITED — Capital/Financing Update 2004

Aug 1, 2004

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

TENNANT CREEK GOLD LIMITED

ABN

12 000 817 023

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

⁺Class of ⁺securities issued or to be $\mathbf{1}$ issued

Unlisted Options

• $\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the "securities (eg, if options, exercise price and date; if partly expiry paid *securities, the amount outstanding and due dates for payment; if *convertible securities, the conversion price and dates for conversion)

8,710,000

Exercise price \$0.15 and expiring 31 May 2007

⁺ See chapter 19 for defined terms.

4	Do the "securities rank equally in all respects from the date of allotment with an existing 'class of quoted *securities?	No
	If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, the (in- case οf $\mathbf{a}$ trust. distribution) or interest payment the extent to which they do not ٠ rank equally, other than in relation to the next dividend, distribution or interest payment	and converted into ordinary shares.	Options will only rank equally once exercised
5	Issue price or consideration	Nil
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Consultant Share shareholder approval.	Issued in accordance with the Employee and Scheme Option and
7	Dates of entering *securities into uncertificated holdings or despatch of certificates	28 July 2004
		Number	* Class
8	Number + class of and аIJ *securities quoted ASX. on (including the securities in clause 2 if applicable)	69,478,270	Ordinary
		Number	* Class
9	†class of Number and all *securities not quoted on ASX (including the securities in clause 2 if applicable)	8,710,000	Options exercisable at \$0.15 and expiring 31 May 2007.
10.	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

$+$ See chapter 19 for defined terms.

11	holder approval security Is. required?
12	Is the issue renounceable or non- renounceable?
13	Ratio in which the "securities will be offered
14	+ Class of + securities to which the offer relates
15	+ Record date to determine entitlements
16	Will holdings on different registers aggregated for calculating Ъe entitlements?
17	Policy for deciding entitlements in relation to fractions
18	Names of countries in which the entity has "security holders who will not be sent new issue documents Note: Security holders must be told how their
	entitlements are to be dealt with. Cross reference: rule 7.7.
19	Closing date for of receipt acceptances or renunciations
20.	Names of any underwriters
21	Amount of any underwriting fee or commission
22	Names of any brokers to the issue
23	Fee or commission payable to the broker to the issue

Part 2 - Bonus issue or pro rata issue

$\overline{\text{+}$ See chapter 19 for defined terms.

24	handling any fee Amount of brokers who lodge payable to acceptances or renunciations on behalf of "security holders
25	If the issue is contingent on "security holders" approval, the date of the meeting
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
27.	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28.	Date rights trading will begin (if applicable)
29.	Date rights trading will end (if applicable)
30	How do "security holders sell their entitlements in full through a broker?
31	How do "security holders sell part of their entitlements through a broker and accept for the balance?
32	How do "security holders dispose

through a broker)? 33 ⁺Despatch date

Part 3 - Quotation of securities

of their entitlements (except by sale

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$

⁺ See chapter 19 for defined terms.

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

e.	I I

$(b)$

• If the ⁺securities are ⁺equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders
• 36 If the "securities are "equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

38	Number of securities for which + quotation is sought
39.	Class of *securities for which quotation is sought
40	Do the securities rank equally in all respects from the date of allotment with an existing "class of quoted securities? If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not $\bullet$ rank equally, other than in relation to the next dividend, distribution or interest payment

⁺ See chapter 19 for defined terms.

$41$ Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number ^*Class 42 Number and "class of all "securities quoted on ASX (including the securities in clause 38)

Quotation agreement

• $\mathbf{I}$ *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the "securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for $\bullet$ an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the "securities be quoted.

⁺ See chapter 19 for defined terms.

• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before "quotation of the "securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

Company Secretary

CHRIS BATH

Date: 2 August 2004

Print name:

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⁺ See chapter 19 for defined terms.