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Eurogold Loan Repayment

Eurogold Limited advises that it exercised its Tanami Gold NL rights entitlement at a cost of $2,373,327 and thereby has retained its 3.71% shareholding. Tanami has in turn repaid Eurogold's $5,000,000 debt together with a $150,000 setup fee and interest charges of $165,479.45. The security held by Eurogold over Tanami's investment in ABM Resources NL has been released. Eurogold's cash position is therefore approximately $4.1m and its Net Tangible Asset valuation per share is approximately 30 cents per share.