TIVAN LIMITED — Capital/Financing Update 2006

Jan 23, 2006

SALE OF INVESTMENT IN RED ROCK RESOURCES

24 January 2006

Tennant Creek Gold Limited (ASX: TNG) ("TNG" or "the Company") today announced that it has completed the sale of its investment in AIM-listed minerals group Red Rock Resources plc ("Red Rock"), realising a total consideration of A\$665,000.

TNG acquired a holding of 19 million shares in Red Rock in October 2005 in consideration for the sale of a group of non-core exploration projects located in the Northern Territory of Australia, completing the asset rationalisation program initiated by TNG last year. The Red Rock shares were subject to an orderly marketing agreement but otherwise fully tradeable.

The proceeds of the sale will be utilised as part of general working capital to underpin TNG's exploration and development activities, including planned drilling programs, at the Manbarrum Lead-Zinc-Silver Project in the Northern Territory.

Following completion of the Red Rock divestment, TNG retains an extensive investment portfolio comprising a 16.7% holding in ASX-listed Batavia Mining Limited (ASX: BTV), a 24.8% holding in the AIM-listed tungsten and molybdenum developer. Thor Mining Limited. and a rovalty interest in the Cawse Extended Laterite Nickel Project.

The Company continues to focus on these investments, with Batavia recently announcing a significant increase in the resource for its 100%-owned Gullewa Project in Western Australia and Thor Mining announcing a substantial upgrade in the resource for the Molyhil Tungsten-Molybdenum Project in the Northern Territory and the commencement of an accelerated development pre-feasibility study.

Yours faithfully TENNANT CREEK GOLD LIMITED

NEIL BIDDLE Managing Director