more gold found

21 July 2008
The Manager
Company Announcement Office
ASX Limited
Exchange Centre, Level 4, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir
NEW HIGH GRADE LODE INTERSECTED AT COYOTE
The Directors are pleased to announce that the current diamond drill program has successfully intersected a new high grade vein at the Coyote Gold Project.
As previously announced, the Company commenced a major diamond core drilling program in late April 2008. The program aims to discover significant new gold mineralisation which may, with additional delineation drilling and feasibility studies, lead to a future increase in the overall Coyote Mineral Resource and Reserve. The drilling program is targeting down-plunge and depth extensions of the high grade gold lodes within the Coyote mineralised system.
Diamond core drillhole CYDD170, which is still in progress, has intersected a significant new gold mineralised quartz vein located approximately 100m beneath the Gonzales Lode. CYDD170 was designed to target several prospective stratigraphic horizons in the hanging-wall position of the Gonzales Fault, which is analogous to the location of the Gonzales-Buggsy high grade lodes.
The high grade vein, which has a true width of 10cm (typical of the high grade mineralised quartz veins at Coyote) contains abundant fine grained visible gold as shown in the photographs below. Assays are pending.
Upon completion of the current hole, a decision will be made on a follow up drill program.
Yours faithfully
Tanami Gold NL
Denis Waddell
Executive Chairman