TIVAN LIMITED — Capital/Financing Update 2008

Oct 30, 2008

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Cawse Extended Project UPDATE

31[st] October 2008

CAWSE EXTENDED JV (80% Norilsk Nickel Cawse/ 20% TNG)

TNG Limited (ASX: TNG – “TNG”) has received an updated mineral resource statement from Norilsk Nickel Cawse Pty Ltd in relation to the Cawse Extended Nickel Project, which is owned by TNG (20%) in joint venture with Norilsk Nickel Cawse Pty Ltd (80%), (Figure 1).

The Cawse Extended Project is located approximately 65 km North West of Kalgoorlie in Western Australia and is immediately adjacent to the Cawse Nickel-Cobalt Operation which is owned and managed by Norilsk Nickel Cawse Pty Ltd.

Norilsk Nickel Cawse Pty Ltd. announced recently that the Cawse Operation was being placed on indefinite care and maintenance due to increasing cost pressures coupled with a steep decline in nickel prices .

The new resource statement is attached (Appendix 1). Due to the current status of the operation no reserves are stated.

Yours faithfully TNG LTD

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Paul Burton

Exploration Director

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information supplied by Norilsk (Appendix 1). Paul Burton who is a Member of The Australasian Institute of Mining and Metallurgy and a Director of TNG Limited. Paul Burton has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Paul Burton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Enquiries:

Neil Biddle Managing Director + 61 (0) 418 915 752 Paul Burton Exploration Director + 61 (0) 8 9327 0918

Nicholas Read

Read Corporate + 61 (0) 419 929 046

Appendix 1

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Figure 1: Cawse Extended JV Tenements
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