Appendix 3B New issue announcement Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Torian Resources NL

ABN

72 002 261 565

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be
issued TNR: Ordinary Fully Paid Shares
2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

29,411,765 TNR

3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding and due dates for payment; if

+convertible securities, the conversion price and dates for

conversion)

29,411,765 TNR issued with respect to Conversion Notice received for $50,000.00 of the first Convertible Note issued under the Funding Agreement with La Jolla Cove Investors Inc.

The Conversion Price was determined by the formula in the funding agreement:

- 85% of the average of the three (3) lowest Volume Weighted Average Prices during the twenty-one (21) Trading Days prior to the election to convert.

Average price was determined to be $0.0020, and 85% of this figure was calculated as being

$0.0017.

+ See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 1

Appendix 3B New issue announcement

4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted

+securities?

Yes. TNR issued from the partial or full conversion of the Note will rank equally as fully paid ordinary shares once issued.

If the additional securities do not rank equally, please state: