TIVAN LIMITED — Board/Management Information 2011

Feb 23, 2011

BOARD CHANGES

Australian resources company TNG Limited (ASX: TNG ) announces that Mr John W Barr and Mr Edward Fry have resigned as Directors of the Company with effect from today.

Mr Barr has tendered his resignation for personal reasons while Mr Fry has decided to step down from the Board due to his growing workload in his consulting business.

The Company would like to express its appreciation to both Mr Barr and Mr Fry for many years of valuable service to TNG.

Mr Barr has been a Director of TNG since 1998 when the Company was restructured and became Hallmark Consolidated and has been Chairman since 2001. During this time he has been involved in the identification and acquisition of a number of assets for the Company and, where appropriate, the disposal of assets to create additional shareholder value.

He has brought considerable financial expertise to the Board and has been Chairman of the Audit Committee.

Mr Fry has been a Director of the Company since 2006 and has provided a substantial contribution in relation to Aboriginal and native title issues at various key projects. Mr Fry will be retained on a consultancy basis to continue providing these services to the Company.

Following the changes, TNG is pleased to announce the appointment of Mr Stuart Crow to the Board as non-executive Director.

Mr Crow has more than 25 years experience in all aspects of corporate finance and investor relations in Australia and international markets, and has owned and operated his own businesses in these areas for the last twelve years. He brings extensive working knowledge of capital markets to the Board.

The restructured Board will continue to pursue the development of the Company’s core asset, the Mount Peake Iron-Vanadium Project in the Northern Territory, including the revolutionary new hydrometallurgical process the Company has codeveloped for the extraction of vanadium, titanium and iron from Mount Peake, while also progressing TNG’s portfolio of copper and gold projects.

TNG LIMITED

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Paul Burton Director & CEO 24 February 2011