TIVAN LIMITED — Share Issue/Capital Change 2007

Jun 4, 2007

Tennant Creek Gold LIMITED

EXPIRY OF OPTIONS

5 June 2007

On 12 March 2007 Tennant Creek Gold Ltd (ASX: "TNG") announced it had entered into an agreement with Southern Cross Equities for the underwriting of the exercise of different classes of options as part of a Placement and Option Underwriting Agreement that secured \$11.52m of fundina.

The Directors advise that the fully underwritten options expired with a shortfall of 2,388,130 options not exercised.

In accordance with the Placement and Option Underwriting Agreement and the shareholder approvals obtained at the General Meeting held on 17 May 2007 this shortfall has been placed with the underwriters.

As a result of the closure of the 31 May 2007 Options and the placement of the shortfall shares, the share capital of TNG will be:

Ordinary Fully Paid Shares (ASX:TNG) Unlisted options

181,692,405 19,500,000

Yours faithfully TENNANT CREEK GOLD LIMITED

DAMIAN DELANEY Company Secretary