Shares issued by Tianshan

RNS Number:4744K
Mineral Securities Limited
21 December 2007

                             ASX / RNS ANNOUNCEMENT
           CONVERSION OF TIANSHAN GOLDFIELDS LIMITED PREFERENCE SHARE


21 December 2007

Mineral Securities Limited ("Minsec" or "the Company") is pleased to announce
that following a meeting of its shareholders, Tianshan Goldfields Limited 
("Tianshan") has issued 26 million ordinary Tianshan shares to the Company.

The issue of Tianshan shares to Minsec follows the conversion of the preference
share which was conditional on the definition of a resource estimate in excess
of 2M oz gold with at least 1m oz in the indicated category, the achievement of
this hurdle was previously announced on 19 December 2006

Based on the closing Tianshan share price on 21 December 2007, the value of the
converted preference shares now issued to Minsec is US$10.1 million (A$11.7
million) and the total value of Minsec's holding of 68,402,118 ordinary fully
paid shares is US$26.5 million (A$30.8 million).

After the conversion of the preference share, Minsec's investment in Tianshan
comprises:

Shares                                                               Number
Ordinary Fully Paid                                                  42,402,118
Ordinary Fully Paid Upon Conversion of Preference Share              26,000,000
                                                                     68,402,118
Options
Unlisted Options ($0.175 30 June 2008)                                7,821,429
Unlisted Options ($0.20   30 June 2008)                               1,333,335
Unlisted Options ($0.20   16 October 2008)                            1,200,000
                                                                     10,354,764


For further information please contact:



Keith Liddell, Chief Executive Officer
Tel: +44 20 7478 5100 (London) +61 8 9221 7466 (Perth)


Martin Eales, RBC Capital Markets
Tel: +44 20 7029 7881


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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