Tennant Minerals Limited announced that it has received the assay results from the first hole (BBDD0012) of the six-hole Stage 1 diamond drilling program recently completed at the Bluebird copper-gold discovery. BBDD0012 returned a thick intersection of high-grade copper and gold, which included: 63.0m @ 2.1% Cu and 4.6 g/t Au from 153.0m (down hole): including 40.0m @ 3.0% Cu and 7.3 g/t Au from 155.0m, including 27.55m @ 3.6% Cu and 10.0 g/t Au from 160.45m, including 15.55m @ 5.6% Cu and 0.2 g/t Au from 160.45m, and, including 7.0m @ 1.4% Cu and 38.5 g/t Au from 181.0m. Bluebird is located within the Company's 100% owned Barkly Project in the Northern Territory at the eastern edge of the Tennant Creek (copper-gold) Mineral Field (TCMF), which has produced over 5Moz of gold and over 500kt of copper from 1934 to 2005.

The six-hole (1,700m) Stage 1 follow-up diamond drilling program was designed to scope out and expand the footprint of the recently discovered high-grade copper-gold zone at Bluebird. All six diamond drillholes intersected intense hematite alteration with visible copper mineralisation including malachite and/or chalcocite (copper sulphide) and native copper. The intensely-mineralised copper-gold intersection in BBDD0012 is to the west and deeper (down plunge) than BBDD0009, which intersected 50m @ 2.7% Cu and 0.52 g/t Au from 158m (down hole) including 24m @ 5.01% Cu, 1.01 g/t Au and 61.7 g/t Ag from 159m.

Core samples are currently being assayed from a further three mineralised intersections, including: BBDD0013 that tested extensions of the high-grade copper-gold zone to the west of BBDD0012, intersecting a 46m zone of hematite alteration, including 21m of intense hematite-magnetite and copper mineralisation (native copper and chalcocite) from 157m downhole. BBDD0014 that tested the top of the Bluebird mineralised zone, intersecting 34m of hematite-silica alteration, including 16m of copper mineralisation (native copper and malachite) from 130m. BBDD0015, that tested the Bluebird mineralisation to the west and deeper (down-plunge) from BBDD0012 and intersected 62m of hematite-silica alteration, including a 20m zone of specular- hematite and copper mineralisation (malachite, native copper, chalcocite) from 277m.

Significantly, the iron-oxide alteration and copper mineralisation intersected in BBDD0015 has changed orientation to dip steeply to the north. This steepening of the mineralised zone at depth suggests that some previous holes may have stopped short of the main high-grade zone, which could extend much deeper than previously interpreted. A further two step-out diamond drillholes have tested the Bluebird discovery to the west and down-plunge of all previous holes, producing an intersection in BBDD0017 of 64m hematite alteration from 162m, including a 33m zone of intense hematite-magnetite alteration with visual copper mineralisation (native copper and chalcocite) from 173m.

Also, BBDD0016 intersected a deeper zone of mineralisation on the same western step-out section (448,320mE) that included two zones of hematite with copper mineralisation that are interpreted to lie on the western and eastern limb of an anticline. The deeper zone includes a 35m zone of hematite alteration from 291m with 14m of copper mineralisation (malachite and/or chalcocite) from 297m. Downhole electromagnetics (DHEM) will be carried out shortly from the two western-most holes, BBDD0016 and BBDD0017, to detect in-hole or off hole conductors that may represent extensions or repeats of the Bluebird sulphide zone, which will be targeted for further drilling.

The drilling to date has identified a steep westerly plunging zone of copper-gold mineralisation that extends from 60m to >200m below surface and at-least 150m along strike in an east-west orientation. Interpretation of the key drilling intersections utilising structural data from logging of drill core indicates that the thick and high-grade copper and gold intersection in BBDD0012 is associated with steeply dipping structures that have intersected the axis of a shallow-plunging anticline. This association of thick and high-grade copper and gold mineralisation developed across the top of anticlinal fold structures is analogous to other major discoveries at Tennant Creek including the Warrego copper-gold deposit of Peko-Wallsend that produced 6.75Mt @ 1.9% Cu, 6.6 g/t Au from 1972 to 1989 and the Rover 1 discovery of Castille Resources in the southwestern part of the TCMF where a Mineral Resource of 4.7Mt @ 1.63% Cu and 1.73 g/t Au has recently been announced.

Planning underway for the Stage 2 follow-up diamond drilling program at Bluebird: The current follow-up diamond drilling program at Bluebird is designed to scope out and expand the footprint of the high-grade copper-gold mineralisation in two stages, comprising: (i) The completed Stage 1 diamond drilling program of 6 holes for 1,700m that tested the central thickest part of the shallow, westerly plunging copper-gold shoot and intersected the thick and high-grade copper and gold in BBDD0012. This drilling has extended the zone to the west and to a depth of more than 200m below surface - and remains open, and, (ii) A Stage 2 diamond drilling program of up to 10 step-out holes for 3,000m to be designed to significantly expand the footprint of the Bluebird discovery to over 300m strike length and potentially >500m vertical depth. Following receipt of all Stage 1 results and interpretation of structural and alteration data, a 3-dimensional model of the mineralised zone drilled to date will be constructed.

This, combined with modelling of geophysical data, will enable fine tuning of the Stage 2 drilling program. Multiple Copper-Gold Targets Identified within the Bluebird Corridor: The Barkly Project comprises the Barkly (EL 28620) and Babbler (EL 30701) tenements that are both considered highly prospective for magnetite-hematite (iron-oxide) copper-gold (IOCG) mineralisation. The intersection of high-grade copper and gold at Bluebird highlights the potential of the Project to host deposits similar to other previously mined ore-bodies in the Tennant Creek Mineral Field such as the Peko deposit that produced 3.7Mt @ 4% Cu and 3.5 g/t Au from 1934 and 1981 and Nobles Nob that produced 2Mt @ 17.3 g/t Au from 1947 to 1986, both of which are located only 20km west of Bluebird in an identical geological setting.

The Bluebird discovery is associated with a gravity high, that is part of a 5km long gravity anomaly termed the "Bluebird Corridor". This gravity anomaly reflects high-density, iron enrichment in the primary zone below the near surface leaching that extends to >60m depth at Bluebird.