TIVAN LIMITED — Capital/Financing Update 2006

Apr 6, 2006

SALE OF NON CORE AUSTRALIAN TENEMENTS FOR \$2.85 MILLION

7 April 2006

HIGHLIGHTS

• Agreement signed with Pan Resources Limited for the sale of non-core Northern Territory tenements.
• Sale price agreed at \$2,850,000.
• The sale is conditional upon the Purchaser gaining admission to the London Stock Exchange.

Tennant Creek Gold Limited (ASX: TNG) ("TNG") today announced that it has entered into an agreement with Pan Resources Limited ("Pan Resources") for the sale of the Spring Hill Gold Project and the associated Exploration Licence and Mining Licence Application forming the Spring Hill Project.

The project is regarded as non-core to the Company and this agreement represents an opportunity to realise a fair value for them at a time of strong market interest.

TNG will utilise the funds on an accelerated exploration program at the Manbarrum Lead Zinc Silver Project in the Northern Territory, including activities leading to the planned commencement of drilling designed to upgrade existing drilling data and resource estimates to JORC compliance as rapidly as possible, and to supplement working capital.

The sale agreement is conditional on the acceptance of Pan Resources to the Alternative Investment Market ("AIM") of the London Stock Exchange ("LSE") before 30 September 2006.

The payment of the consideration on completion is for \$600,000 in cash with the balance being paid in shares, in the newly listed Pan Resources, or cash, at the election of the Purchaser.

Yours faithfully TENNANT CREEK GOLD LIMITED

NEIL BIDDLE Managing Director