TIVAN LIMITED — Capital/Financing Update 2006

Sep 17, 2006

Tennant Creek GoldLIMITED

ABN 12000817023

◆ Highlights ◆

@ Tennant Creek Gold Limited (ASX: TNG) ("Company") announces that drilling has commenced on the Manbarrum Lead-Zinc-Silver Project

Tennant Creek Gold LIMITED 1994 - 52 1566 83 2 623

www.tennantcreekgold.com.au

Enquiries:

Neil Biddle Tennant Creek Gold Ltd	+ 61 (0)8 9327 0900
Damian Delaney Tennant Creek Gold Ltd	$+ 61 (0)8 9327 0900$
Nicholas Read Jan Hope & Partners	+ 61 (0)8 9388 1474

Drilling Commences at flagship Manbarrum Lead-Zinc-Silver project

Reverse Circulation Percussion (RC) drilling commenced last week at the Manbarrum Project located 70 Km northeast of Kununurra.

The initial drill program of 66 holes for 10,200 meters is designed to test the Sandy Creek Main Zone mineralisation and immediate on strike and down dip extensions. A further 24 holes for 3,500 meters will test the Sandy Creek NE IP Anomaly along a 600 meter strike length.

It is proposed to continue drilling until the start of the wet season or late December, whichever is the earliest.

The drill rig is currently maintaining a penetration rate in excess of 200 meters per day and to date 6 holes have been completed. Five holes have intersected massive Galena (lead Sulphide) and Sphalerite (Zinc sulphide) where anticipated based on historical drilling.

Samples from mineralised sections are being air freighted to Perth and a 10 day turnaround for results is expected. TNG is establishing its own laboratory facility at Kununurra which is expected to be operational by early October.

A regional Gravity survey was recently completed and final modelling is expected this week. A detailed IP survey covering a 24 KM strike length of the Bonaparte Shelf Margin is due for completion early October.

A second RC/aircore drill rig is due end September and will undertake reconnaissance drilling on regional targets defined by previous exploration and the 2006 Gravity and IP surveys.

An infill Diamond drill program at Sandy Creek has been deferred until next season (April, 2007) due to unreliable rig availability.

Yours faithfully TENNANT CREEK GOLD LTD

Neil G Biddle Manading Director

18 September 2006

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Neil Biddle, who is a Member of The Australasian Institute of Mining and Metallurgy. Neil Biddle is a Director of Tennant Creek Gold Limited. Neil Biddle has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration

Results, Mineral Resources and Ore Reserves'. Neil Biddle consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.