Mr. Karl Simich of Sandfire reports

SANDFIRE RESOURCES NL -- EARLY WARNING REPORT

Sandfire Resources NL, through its wholly owned subsidiary Sandfire B.C. Holdings Inc., has agreed to purchase 80 million units of Tintina Resources Inc. at a price of 20 cents per unit. The transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange.

Each unit is composed of: (i) one common share in the capital of the issuer, and (ii) two individual quarters of a common share purchase warrant (the first quarter warrant being a quarter of a Class A warrant, and the second quarter warrant being a quarter of a Class B warrant), and one individual half of a common share purchase warrant.

Each whole Class A warrant is exercisable into one common share of the issuer for a period of 24 months from the closing date of the transaction at an exercise price of 28 cents per common share. Each whole Class B warrant is exercisable into one common share of the issuer for a period of 36 months from the closing date at an exercise price of 32 cents per common share. Each whole Class C warrant is exercisable into one common share of the issuer for a period of 60 months from the closing date at an exercise price of 40 cents per common share. The warrants are subject to early expiry in the event the volume-weighted average price of the issuer's common shares on the TSX Venture Exchange over 20 consecutive trading days is at least 120 per cent of the exercise price in the last three months prior to the natural expiry date of each class of warrants. Early expiry of any class of warrants causes all subsequent warrants to also expire.

Upon closing the transaction, Sandfire's ownership of the 80 million common shares underlying the units will represent approximately 36.0 per cent of the issued and outstanding shares of the issuer on a non-diluted basis (calculated as at the date of this press release). In the event Sandfire subsequently exercises all of its warrants, its ownership would increase to approximately 53.0 per cent of the issued and outstanding shares of the issuer on a non-diluted basis (calculated as at the date of this press release).

The securities acquired will be held for investment purposes. Sandfire may, depending on market and other conditions, increase or decrease its beneficial ownership of the issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

This press release is issued pursuant to Multilateral Instrument 62-104, which also requires a report to be filed with the B.C. Securities Commission and the Alberta Securities Commission, containing additional information with respect to the foregoing matters.