TIVAN LIMITED — Major Shareholding Notification 2005

May 17, 2005

$P.1$

Form 604

Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Tennant Creek Gold Limited
acniarsn	000 817 023
1. Details of substantial holder(1)
Name	Stuart Adrian Corp
ACNARSN (fragoficable)			.
There was a change in the interests of the substantial holder on		17.05.05
The previous notice was given to the company on		09/05/05
The previous notice was dated		09/05/05

1. Previous and present voting power

The folsi number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant
interest (3) in when last required, and when now r

Class of securities (4)	Previous nation		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinarv	7,826,000	11.26%	7,100,000	10.22%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the
substantial holder was last required to give

Date of change	Parson whose relevant interest changed	Neuro of change (6)	Consideration given in relation to charge (7)	Class and number of securities affected	Person's votes affected
$11/05/ -$ 17/05/05	Claw Pty Ltd	On-market sale	\$104,675.73	Ordinary 726.000	726.000

4, Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of Rejevant ELLERVEST	Registered holder at SECURES	Person entitled to be registered as holder (8)	Nature of Televiard interest (6)	Class and rainter of securities	Person's votes
Flea Pty ud	Flea Pty Ltd	Flea Pty Ltd	Direct	Ordinary 475,000	475.000
Claw Pty itd	Claw Ptv Ltd	Claw Pty Ltd	Direct	Ordinary 6,625,000	6.625.000

5. Changes in association

The parsons who have become associates (2) of, caased to be associates of, or have changed the nature of their association (9) with, the substantial holder in elation to voting
Interests in the company or scheme are as fol

$---$ Name and ACNARSN (if applicable)	______ Nature of association ____ --------------------------------------
	is a backer of the company of the season and provided a series of the company of the company of the company of the company _________

6. Addresser

The addresses of persons named in this form one as follows:

Naroe	Address
Fiea Pty Ltd	PO Box 3313, Broadway, NEDLANDS, WA 6009
Claw Pty Ltd	PO Box 3313, Broadway, NEDLANDS, WA 6009

Signature

print name

Capacity Director

sign here

Alorp

Stuart Adrian Corp

Date 17/05/2005