TIVAN LIMITED — Interim / Quarterly Report 2006

Apr 27, 2006

Appendix 5B

$Rule 5.3$

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98.

Name of entity

TENNANT CREEK GOLD LIMITED
----------------------------	--	--	--

ACN or ARBN

000 817 023

Quarter ended ("current quarter") 31 March 2006

Consolidated statement of cash flows

	Cash flows related to operating activities	Current quarter \$A'000	Year to date 9 months
				\$A'000
1.1	Receipts from customers
1.2	Payments for (a)	exploration and evaluation	(197)	(654)
	(b)	development
	(c)	production
	(d)	administration	(551)	(1, 346)
1.3	Royalties received		27	107
1.4	Interest and other items of a similar nature received		15	64
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other		7	23
	Net Operating Cash Flows		(699)	(1,806)
	Cash flows related to investing activities
1.8	Payment for purchases of:	(a) prospects
		(b) controlled entity (net of cash
		aquired)
		(c) other fixed assets
1.9	Proceeds from sale of:	(a) prospects
		(b) equity investments	18	288
		(c) controlled entity	516	804
		(d) other fixed assets	(20)	(19)
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other
	Net investing cash flows		514	1,073
1.13		Total operating and investing cash flows (carried forward)	(185)	(733)

$+$ See chapter 19 for defined terms.

1.13	Total operating and investing cash flows (brought forward)	(185)	(733)
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc. (net of expenses)	2,388	2,777
1.15	Payment for shares	(6)	(6)
1.16	Proceeds from borrowings
1.17	Repayment of borrowings	(4)	(6)
1.18	Dividends paid
1.19	Other
	Net financing cash flows	2.193	2,765
	Net increase (decrease) in cash held	2,032	2,032
1.20	Cash at beginning of quarter/year to date	1,481	1,481
1.21	Exchange rate adjustments to item 1.20
1.22	Cash at end of quarter	3,513	3,513

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter \$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	32
1.24	Aggregate amount of loans to the parties included in item 1.10
1.25	Explanation necessary for an understanding of the transactions

Non-cash financing and investing activities

$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

$2.2$ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

$\overline{a}$

$+$ See chapter 19 for defined terms.

4

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available \$A'000	Amount used \$A'000
3.1	Loan facilities	–
3.2	Credit standby arrangements

Estimated cash outflows for next quarter

	Total	120
4.2	Development
4.1	Exploration and evaluation	120
		\$A'000

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.		Current quarter \$A'000	Previous quarter \$A'000
5.1	Cash on hand and at bank	3,114	403
5.2	Deposits at call	329	325
5.3	Bank overdraft
5.4	Other – security deposits	70	70
	Total: cash at end of quarter (item 1.22)	3,513	798

Changes in interests in mining tenements

		Tenement reference	Nature of interest (note (2))	Interest at beginning of quarter	Interest at end of quarter
6.1	Interests in mining tenements relinquished, reduced or lapsed
6.2	Interests in mining tenements acquired or increased

$+$ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issue price per security (see note 3) (cents)	Amount paid up per security 3) (see note
7.1	Preference				(cents)
	+securities
	(description)
7.2	Changes during quarter
	(a) Increases through issues
	(b) Decreases
	through returns of
	capital, buy-backs, redemptions
7.3	+Ordinary securities	100,128,270	100,128,270
7.4	Changes during quarter
	(a) Increases through issues	14,516,000	14,516,000
	(b) Decreases
	through returns of capital, buy-backs
7.5	+Convertible debt
	securities (description)
7.6	Changes during quarter
	(a) Increases through issues
	(b) Decreases through securities
	matured, converted
7.7	Options			Exercise Price	Expiry Date
	$A - Directors,$ Employeess and	11,950,000		\$0.15	31 May 2007
	Consultants Options $B - Other$	7,000,000		\$0.12	30 April 2007
7.8	Issued during quarter	4,000,000	4,000,000	\$0.25	\$0.25
7.9	Exercised during	4,016,000	4,016,000	\$0.15	\$0.15
	quarter	6,500,000	6,500,000	\$0.12	\$0.12
7.10	Expired during quarter
7.11	Debentures
	(totals only)
7.12	Unsecured notes (totals only)

⁺ See chapter 19 for defined terms.

Compliance statement

• $\begin{array}{c} \hline \end{array}$ This statement has been prepared under accounting policies, which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

Sign here:

Date: 28 April 2006

(Company Secretary)

Print name: DAMIAN DELANEY

$+$ See chapter 19 for defined terms.