Drilling Report

    RNS Number : 3423A
  Tianshan Goldfields Ltd
  01 August 2008
   

     Tianshan Goldfields Limited
    ("Tianshan" or the "Company")

    ENCOURAGING DRILL RESULTS FROM THE GOLD MOUNTAIN  PROJECT EXTENDS MINERALISATON AT THE JINXI DEPOSIT 

    *     Initial results have been received from a 3,293 metres (17 holes) core drilling campaign at the Jinxi Deposit at the Gold Mountain
Project, located in Northwest China. 
    *     Drilling has confirmed that mineralisation extends to the east and southeast at Jinxi deposit. 
    *     Significant drill results  from the Jinxi deposit include:
    *     10 metres at 2.62g/t gold, including 7 metres at 3.58g/t gold; 
    *     27 metres at 0.95g/t gold, including 23 metres at 1.09g/t gold; and, 
    *     15 metres at 0.91g/t gold. 
    *     Assay results for a further 1,430 samples are pending. 
    Tianshan (ASX/AIM: TGF) is pleased to report that encouraging drill intercepts have been received from the Jinxi deposit, part of the
Company's 90%-owned Gold Mountain Project in northwest China, extending the mineralisation to the east and southeast. 
    The Jinxi Deposit is one of three deposits which currently form part of the JORC Code compliant resource inventory at Gold Mountain. The
Project has a total Measured, Indicated and Inferred Mineral Resources within the Yelmand-Jinxi, Mayituobi and Lion deposits of 94.8 million
tonnes at an average grade of 0.9g/t gold for 2.64 million contained ounces of gold (at a 0.5g/t gold lower cut-off grade).
    Importantly, the majority of drill holes from the 3,293 metre drill campaign intersected brecciated and hydrothermally overprinted
volcanoclastics with gold intersections over moderate widths reported in the initial assays received (Table 1). Of the 17 holes completed at
Gold Mountain, assay results for the first 5 holes have been received and the highlights include: 
    *     27.8 metres at 0.95g/t Au from 117 metres, including 23 metres at 1.09g/t Au from 117 metres; 
    *     2 metres at 0.61g/t Au from 95 metres; 
    *     10 metres at 0.62g/t Au from 196 metres; and, 
    *     10 metres at 2.62/t Au, including 209 metres and 7 metres at 3.58g/t Au from 211 metres. 
    Assay results are awaited for a further 1,430 samples that have been submitted for analysis. Drillholes DD08JX162 and DD08JX166 which
targeted the central eastern portion of the north-south aligned feeder zone, where mineralisation is typically of higher grade, have
intersected disseminated sulphides in hydrothermal breccias, extending further east than previously known.

    Drilling at DD08JX159 in the in the far south east of Jinxi has located the contact between tuffs and volcanic breccia units with the
Lion Hill andesite. Significantly, a 10m zone of disseminated sulphide in tuffs and volcanic breccia was intersected immediately above the
andesite contact. 

    In-fill and resource extensional drilling will be undertaken in the coming months at the Yelmand deposit and south-west margins of
Balake. Once all assay results are to hand, for the as yet un-reported Jinxi drillholes (DD08JX158 to DD08JX168 inclusive, Table 1), further
infill drilling will be undertaken at this prospect to evaluate continuity of mineralisation and potential to extend east to the contact
with the andesite/dacite intrusion of Lion Head.

    Mr SA Allnutt (MAIG), Chief Geologist of Tianshan Goldfields Limited compiled the technical aspects of this report relating to the Gold
Mountain Project. Mr Allnutt has sufficient experience that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 Edition of the
Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Allnutt consents to the inclusion in the report of the matters in
the form and context in which it appears.

    FOR FURTHER INFORMATION, PLEASE CONTACT:

 Tianshan Goldfields Limited
 Level 22, Allendale Square
 77 St Georges Terrace 
 Perth WA 6000
 Telephone:                             +61 8 9221 7729
 Fax:                                   +61 8 9221 7866

 Keith Liddell - Chairman
 Jason Bontempo - Chief Financial Officer

 WH Ireland Limited
 11 St James's Square
 Manchester
 M2 6WH
 United Kingdom
 Telephone:                             +44 161 832 2174

 David Youngman
 Katy Mitchell

    About Tianshan Goldfields 
    Tianshan Goldfields Limited is an international gold company focused on developing its 90%-owned Gold Mountain Project in North West
China.
    With Measured, Indicated and Inferred Resources currently totaling over 2.6 million ounces, Gold Mountain has the potential to underpin
a low-cost, open pit heap leach gold operation generating strong returns for shareholders.
    Tianshan is targeting commencement of a Full Feasibility Study by the first quarter of 2009 with mining scheduled to commence in early
2010. The Company has an initial production target at Gold Mountain of 80-100,000 ounces per annum.
    Tianshan Goldfields, which is listed on the Australian Securities Exchange (ASX) and headquartered in Perth, Western Australia, is led
by an accomplished Board and Management team with a strong depth of project development history. 



 Hole                                   UTM_E           UTM_N   Azimuth UTM   Dip   Total Depth (m)  From    To    Interval     Grade
                                         (m)             (m)        (�)       (�)                    (m)    (m)      (m)      (g/t Au)
 Exploration Drilling                                                                                                              
 DD08JX153                              542177         4907941      270       -80            144.78  117   144.78   27.78       0.95
                                                                             incl.                   117    140       23        1.09
 DD08JX154                              542175         4907990      270       -75            338.33   95     97       2         0.61
                                                                                                     137    152       15        0.91
 DD08JX155                              542140         4907664      270       -80            213.36  196    206       10        0.62
 DD08JX156                              542180         4907940      270       -80            309.37                           Awaiting
 DD08JX157                              542250         4907840      270       -60            240.79  209    219       10        2.62
                                                                             incl.                   211    218       7         3.58
 DD08JX158                              542340         4907665      270       -80            240.79                           Awaiting
 DD08JX159                              542305         4907565      90        -60            198.12                           Awaiting
 DD08JX160                              542200         4907890      270       -80            274.32                           Awaiting
 DD08JX161                              541785         4907665      270       -80               285                           Awaiting
 DD08JX162                              542175         4908065      270       -70            301.75                           Awaiting
 DD08JX163                              542088         4908265      90        -50            112.78                           Awaiting
 DD08JX164                              542095         4908240      90        -50            100.58                           Awaiting
 DD08JX165                              542074         4908137      90        -60             158.5                           Awaiting
 DD08JX166                              542140         4908115      90        -50            161.54                           Awaiting
 DD08JX167                              542040         4908190      90        -70            213.36                           Awaiting
 DD08JX168                              541321         4908894      90        -80                                            In Progress
                                                                             Total          3293.37                                
 DD08YEL158                             541170         4908663      90        -75                                            In Progress
 DD08YEL159                             541280         4908775      90        -70                                            In Progress
                                                                             Total                0                           
                                 Partial results only                                                                         
                                                                                                                              
 Geotechnical Pit Slope                                                                                                       
 Drilling
                                                                                                                              
 DD08YEL152                                    540836  4909190          265    -60            145.3                          In Progress
 DD08YEL153                                    541321  4908894          170    -60            135.5                          In Progress
                                                                             Total            280.8                           
 DD08MY055                                     544559  4908299          105    -60            97.54                           Awaiting
 DD08MY056                                     544483  4908323          310    -60            85.34                           Awaiting
 DD08MY057                                     544291  4908030          195    -60            85.34                           Awaiting
 DD08MY058                                     544362  4908044          135    -60            85.34                           Awaiting
                                                                             Total           353.56                           
    Table 1: Diamond Core Drill Hole Intersections above 0.3g/t Au.
    Grid coordinates in WGS84, UTM Zone 44 North

    Diamond core drilling (HQ and NQ), triple tube, 95+% core recovery, all holes surveyed
    Assays for gold on half core, crushed and pulverised. 50g fire assay, detection limit 0.01g/t Au
    YEL = Yelmand, JX = Jinxi, MY= Mayituobi 
    Maximum 3 metres internal waste 0.5g/t Au, 1m maximum internal waste
    Nil = Assays reported no significant values
    Awaited = Assays awaited

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The company news service from the London Stock Exchange
 
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