TASMAN RESOURCES NL ACN 009 253 187 AUSTRALIAN STOCK EXCHANGE ANNOUNCEMENT EXPLORATION UPDATE –11th October 2006 SULPHIDE RICH EPITHERMAL VEINING INTERSECTED • 400m wide zone containing epithermal quartz±sulphide veining • 4.4m zone of strong epithermal quartz veining and base metal sulphides including a 1.5m zone of epithermal quartz containing up to 15-20% galena (visually estimated) • Assays due late October 2006 • Mineralisation still open – approximately 3km2 target area still to be tested • Follow-up drilling in progress Tasman is currently conducting a drilling programme at its 100% owned Parkinson Dam epithermal gold-silver (lead-zinc) prospect located approximately 60km west of Port Augusta in South Australia. As previously announced the programme is designed to test a number of targets: • Epithermal gold silver targets, based on follow up of mineralisation previously intersected by Tasman (e.g. 3m downhole at 3.4g/t Au and 80g/t Ag), newly located outcropping goldsilver mineralisation, calcrete anomalies and new geological interpretations, • Highly anomalous, thick, lead-zinc (gold-silver) mineralisation intersected at the northern end of a previous drill traverse (e.g. 96m at 0.2% Pb and 27m at 0.4% Zn), and • Outcropping uranium mineralisation (uraninite or uranium oxide) located close to an important regional unconformity or geological contact. Tasman has completed the first core hole following up thick, highly anomalous, gold-silver (leadzinc) mineralisation intersected previously. This hole (PD 30) is located 40m grid north from hole PD 27 (which intersected 96m at 0.2% Pb), and, like PD 27 is inclined at 60º south (see Figures 1 and 2). PD 30 was drilled with reverse circulation (RC) percussion drilling to 51m depth, and completed with NQ diamond coring to 416.4m. No assays are available for the hole at this stage. Almost the entire hole has intersected a very thick zone (at least 400m down hole) containing variable amounts of epithermal style quartz-sulphide veining, disseminated sulphides (mostly pyrite and base metal sulphides, predominantly galena or lead sulphide) and associated epithermal-style alteration (chlorite, sericite and carbonates). Overall, the grade of the mineralisation is expected to be generally similar to previous intersections. However, a narrow but much stronger zone of sulphide-quartz mineralisation was intersected from 251.80m to 256.20m (4.4m downhole). This interval is estimated to contain several percent base metal sulphides, in particular galena, and is also expected to contain elevated gold and silver values. Within this interval a 1.5m zone was estimated (visually) to contain up to 15-20% galena. Weaker mineralisation continues below this sulphide-rich veining to the end of the hole. Tasman stresses that at this stage no assays are available for this narrow interval nor the remainder of the hole. The true thickness of the mineralisation, its lateral extent, attitude or potential economic significance is not known. Assessment of these factors will require detailed analysis and further follow-up drilling, as the area remains open to the north, east, west and at depth. The interpreted target area covers at least 3km2 to the north of PD 30 and remains untested. Tasman expects to have assay results for the narrow higher-grade zone of interest by late October, and for the rest of the hole by late November. Assays from 2000m of RC percussion drilling completed during September on other targets at Parkinson Dam will also be available in November. Tasman is very encouraged by the sulphide-enriched epithermal veining in PD 30 and the considerable potential it highlights, particularly on the northern side of the prospect. Follow-up drilling has commenced with hole PD 31, located 230m southwest of PD 30, currently at 216m depth and displaying similar epithermal features to PD 30. Greg H. Solomon Executive Chairman The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk. The information in this announcement, insofar as it relates to Mineral Exploration activities, is based on information compiled by Graham M. Jeffress and Robert N. Smith, who are members of the Australian Institute of Geoscientists, and who have more than five years experience in the field of activity being reported on. Mr Jeffress and Mr Smith are full-time employees of the company. Mr Jeffress and Mr Smith have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Jeffress and Mr Smith consent to the inclusion in the report of the matters based on their information in the form and context in which it appears. It should not be assumed that the reported Exploration Results will result, with further exploration, in the definition of a Mineral Resource. Figure 1 Figure 2
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