ASX CODE: TNG

REGISTERED OFFICE

T +61 8 9327 0900

W www.tngltd.com.au

ABN 12 000 817 023

Level 1, 282 Rokeby Road

Subiaco, Western Australia 6008

F +61 8 9327 0901

E [email protected]

HOLE_ID

HOLE_TYPE

EASTING_GDA94

NORTHING_GDA94

RL

DEPTH

DIP

AZIM_MAG

15MPWB001

8" Percussion

339560

7627833

436

78.0

-90

360

15MPWB002

8" Percussion

346150

7612700

460

66.0

-90

360

15MPWB003

8" Percussion

338710

7641403

443

78.0

-90

360

15MPWB004

8" Percussion

341615

7657621

418

48.0

-90

360

15MPWB005

12" Percussion

339557

7627846

436

66.0

-90

360

Criteria

JORC Code explanation

Commentary

Sampling techniques

Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are

Material to the Public Report.

Samples from water bores include water collected from pump testing and percussion rock samples of the cuttings. Cuttings were placed in 3m piles by the contractor and sampled for laboratory submission similarly

All piles were collected into chip trays and also analysed on site by portable XRF.

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer,

rotary air blast, auger, Bangka, sonic, etc) and details (eg

core diameter, triple or standard tube, depth of Diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

Open hole percussion (hammer) rig

using air (350psi and 1070cfm) lift.

Drill sample recovery

Method of recording and assessing core and chip sample

recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Good recoveries were obtained in all

intervals drilled, however some

contamination (of the loose sandy material in the aquifer zone entrained into samples lower down in the hole) was noted from the lower half of all holes. This is inherent in the drilling technique used - which was selected as the best way to assess the water/aquifer properties.

Logging

Whether core and chip samples have been geologically

and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

Chips, from 3m piles, were

geologically logged in full. Sufficient details were obtained to enable picking aquifer and basement lithologies.

Sub-sampling

techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or

all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc

and whether sampled wet or dry.

For all sample types, the nature, quality and

appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is

representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

All sampling was by spear from sample

piles on the ground. A 2-3kg sample was obtained from each 3m pile for lab submission.

The sample preparation for samples

follows industry best practice, with oven drying of samples prior to coarse crushing and pulverization (to >85% passing 75 microns) of the entire sample

No field duplicates have been taken. The sample size (2-5 kg) is considered to be adequate for the material and grainsize being sampled and the style of mineralisation being drilled

Quality of assay data

and laboratory tests

The nature, quality and appropriateness of the assaying

and laboratory procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF

instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks)

and whether acceptable levels of accuracy6(ie lack of bias)

Not available as yet

Samples are to be analysed for the multi-element suite at ALS in Perth by technique ICP (ME-ICP61a).

and precision have been established.

Verification of sampling

and assaying

The verification of significant intersections by either

independent or alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures,

data verification, data storage (physical and electronic)

protocols.

Discuss any adjustment to assay data.

Sampling was conducted by TNG staff

and verified by the Exploration

Manager on site.

Primary geological logging was

entered into standardized spreadsheets on field laptops and uploaded into the company database.

Locations of data

points

Accuracy and quality of surveys used to locate drill holes

(collar and down-hole surveys), trenches, mine workings

and other locations used in Mineral Resource estimation. Specification of the grid system used.

Quality and adequacy of topographic control.

Drill holes were picked up using a

standard GPS device using multiple

point averaging, with accuracy of better than 3 metres for Northing and Easting, and around 5 metres for RL.

All coordinates data for the project are in MGA_GDA94 Zone 53.

Data spacing and

distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to

establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.

Water bore spacing were dictated by

the aquifer and are spaced at several

kilometres along a paleochannel that extends for over 50 kilometres. Sampling was of an exploratory and reconnaissance nature and spacings are insufficient to establish continuity or define Resources.

Orientation of data in

relation to geological structure

Whether the orientation of sampling achieves unbiased

sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the

orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

All water bores were drilled vertically

to intersect the aquifer, which is flatlying

Sample security

The measures taken to ensure sample security.

All core and samples were under

company supervision at all times prior to freighting to ALS laboratories in Alice Springs

Audits or reviews

The results of any audits or reviews of sampling

techniques and data.

No sampling audits have been

completed to date on the water bore

drilling completed at Mount Peake

Criteria

JORC Code explanation

Commentary

Mineral tenement and

land tenure status

Type, reference name/number, location and ownership

including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

The security of the tenure held at the time of reporting

along with any known impediments to obtaining a licence to operate in the area.

The Mount Peake Project comprises

eleven tenements, including ELs and MLs held by Enigma Mining Limited, a wholly owned subsidiary of TNG Limited.

The tenements are in good standing with no know impediments

Drilling was conducted along the Hansen paleochannel with relevant Water Resources and Heritage clearances

Exploration done by

other parties

Acknowledgment and appraisal of exploration by other

parties.

Only pastoralist wells exist along the

area drill tested

Geology

Deposit type, geological setting and style of mineralisation.

The target is a Tertiary alluvial paleochannel aquifer zone, which links to the Ti Tree aquifer to the south

Drill hole Information

A summary of all information material to the

understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o Easting and northing of the drill collar

o Elevation of RL (Reduced Level - elevation

above sea level in metres) of the drill collar

o Dip and azimuth of the hole

o Down hole length and interception depth

See Table 2

o Hole length

Data aggregation

methods

In reporting Exploration Results, weighting averaging

techniques, maximum and/or minimum grade

truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be clearly stated.

No data aggregation has been applied.

Relationship between

mineralisation widths and intercept lengths

These relationships are particularly important in the

reporting of Exploration Results.

If the geometry of the mineralisation with respect to

the drill hole angle is known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

Each hole is near perpendicular to the

aquifer zone being tested and so drill intercepts are near to true widths.

Diagrams

Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

Refer to Figure 3 in the body of the report

Balanced reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

No laboratory results (geochemical or water quality) are available to date.

Other substantive

exploration data

Other exploration data, if meaningful and material,

should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

There has been no prior work on the

paleochannel aquifer system along the lower Hansen River

Further work

The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large- scale step-out drilling).

Diagrams clearly highlighting the areas of possible

extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

Analytical results are awaited and will be reported in due course. Full assessment of the aquifer will follow with GHD working towards obtaining necessary permitting and design and costing of the borefield's development in time for the Mount Peake mine development