TIVAN LIMITED — Major Shareholding Notification 2005

May 9, 2005

Form 604

Comorations Act2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Tennant Creak Gold Limited
ACNARSN	000 817 023
1. Details of substantial holder(1)
Name	Stuart Adrian Corp
ACN/ARSN (i applicable)
There was a change in the interests of the substantial holder on	09.05/05
The previous notice was given to the company on	15/06/04
The previous notice was dated	15/08/04

2. Previous and present volting power

The lotal 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 notice		Present notice
	Person's voles	Vrtim novem (5) ---------------	Person's votes	TELEPHONE ANNUALISMUS Voting comer
Ordinary	0.550,000	12.31%	826.000	____ 26%
.				********

3. Changes in relevant interests

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

Person whose relevant interest changed	Nature of chance (6)	Consideration given in relation to change (7)	Class and mumber of securities affected	Person's votes affected
Flea Pty Ltd	On-market sale	\$72,444.25	Ordinary 525.000	525,000
Claw Pty Ltd	On-market sale	\$26,564.54	Ordinary 199,000	199,000

4. Present relevant interests

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

Holder of Relevant interest	Registered holder of securities	Person entitled to be registered as hokier (8)	Nature of raiavant $int$ erit erecti (6)	Class and mumber of securities	Person's votes
Flea Ptv Utd	Flea Pty Ltd	Flea Pty Ltd	Direct	Ordinary 475.000	1,000,000
Claw Pty ŧ₫ .	Claw Pty Ltd	Claw Pty Ltd	Direct	Ordinary 7.351.000	7.550.000

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting
Interests in the company or scheme are as fo

Name and ACN/ARSN (if applicable)	Nature of association.

6. Addresses

The addresses of persons remed in this form are as follows:

Name	Address
Flea Pty Ltd	PO Box 3313, Broadway, NEDLANDS, WA 6009
Claw Pty Ltd	PO Box 3313, Broadway, NEDLANDS, WA 6009

Signature

print name Stuart Adrian Corp Capacity Director

sign here

Alorp

Date 09/05/2005

DIRECTIONS

• (1) of there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an aquity trust), the names could be included in an annexuse to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the town as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paraquabit of the form.
• (2) See the definition of "associate" in section 9 of the Comprations Act 2001.
• (3) See the definition of "relevant interest" in sections 808 and 6718(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes
• (5) The person's votes divided by the votes in the body corporate or scheme multiplied by 108.
• (6) include details of:
• ...................................... document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a writern statement certifying this contract, scheme or arrangement, and
• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or cloposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 8 of the Corporations Act 2001.

• (?) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant niterast was acquired has, or may, become entitled to receive in relation to that moulation. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any neself paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial notice.