TIVAN LIMITED — Capital/Financing Update 2008

Feb 27, 2008

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ASX

“WDR”

27 February 2008

Company Announcements Office ASX Securities Limited 20 Bridge Street SYDNEY NSW 2000

WESTERN DESERT IN $4M EXPLORATION EXPANSION IN N.T.

Western Desert Resources Limited (ASX: WDR) (“WDR”), a gold, base metals and uranium explorer, is pleased to announce a proposed $4 million expansion of its exploration activities in Northern Territory.

Western Desert has reached agreement with TNG Limited (ASX: TNG) (“TNG”), to joint venture a portfolio of mineral exploration projects

Under the agreement, WDR subsidiaries can earn up to an 80% interest in the Rover, Tanami East and Musgrave Prospects by funding the exploration expenditure totalling A$4 million across the project group.

The three projects subject to the joint venture agreement and listed below, are prospective for copper, copper-gold, nickel and energy metals.

• The Rover Project encompasses a 1,254km[2] ground package in the Tennant Creek region of the Northern Territory;

• The Musgrave Project covers a large tract of ground in the central Musgrave Block, and

• The Tanami East Prospect (also known as Goddards) hosts significant malachite mineralization.

It is envisaged that each project will be subject to joint venture arrangements. A summary of the expenditure required and the earn-in profile is set out below:

Prospect	Expenditure to earn 51%	Expenditure to earn further 29%	TOTAL
Rover	500,000	850,000	1,350,000
Tanami East	250,000	400,000	650,000
Musgrave	750,000	1,250,000	2,000,000
Total	$1,500,000	$2,500,000	$4,000,000

To earn the initial 51% interest, WDR must spend the amounts above for the respective prospects within 18 months of date of grant of the tenements, at which point a Joint Venture arrangement will come into existence. WDR then has a further 30 months from date of incorporation of the Joint Venture to spend the amounts tabulated above to earn up to an 80% interest in the tenements.

Western Desert Resources Pty Ltd Level 1, 26 Greenhill RdPO Box 83 Ph: +61 8 82741288Email info@westerndesertresources.com.au
ACN 122 301 848 Wayville Goodwood Fax:+61 8 82722838Web www.westerndesertresources.com.au
South Australia 5034 South Australia 5034

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Tenement location plan

Rover Project

The Rover Project (ELA 25581 ELA 25582 and EL 24471) comprises 1254 km[2] of highly prospective gold, copper, lead, zinc and uranium ground 100km south west of Tennant Creek in the Northern Territory. It is part of the emerging Rover Field currently being explored by Westgold Resources Ltd and Adelaide Resources Ltd, both of which have recently announced high grade drill intersections of zinc, lead, silver, gold and copper-gold mineralisation respectively.

WDR believes the Rover Field to be geologically analogous to the historic Tennant Creek Field where 5.5 million ozs of gold and 470,000 tonnes of copper have been produced since 1932.

Within ELA 25581 are 4 aeromagnetic anomalies aligned along the Rover 1 magnetic trend (a 15 million tonne mineralised magnetic ironstone) also indicative of potentially mineralised ironstones - hence their prospectivity is rated extremely highly.

EL 24471 contains the BIF Hill prospect located near a major northwest trending fault. It comprises cropping out banded iron formation and interbedded fine-grain sand, silt and mudstones with extensive volcanic pyroclastics.

Both the banded iron formation and volcanic breccia are weakly auriferous (120ppb to 200ppb Au). A moderate aeromagnetic anomaly coincides with BIF Hill and was drill tested by ADL in 1973 intersecting 15metres averaging 1.03g/t Au. Two core holes were also drilled on the same section intersecting sporadic anomalous gold values (up to 2.7 g/t over 1.2m). The prospect represents an excellent prospective gold exploration play which will be followed up during the 2008 field season

EL 24471 also contains the Explorer 42 prospect, a classical bullseye Tennant Creek aeromagnetic anomaly which has been investigated using ground magnetics and gravity several times since 1966 Explorer 42 is regarded as a priority drill target and will be followed up at the earliest opportunity.

Western Desert Resources Pty Ltd Level 1, 26 Greenhill RdPO Box 83 Ph: +61 8 82741288Email info@westerndesertresources.com.au
ACN 122 301 848 Wayville Goodwood Fax:+61 8 82722838Web www.westerndesertresources.com.au
South Australia 5034 South Australia 5034

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Musgrave Project

The Musgrave project (ELA’s 25562, 25564, 26382, 26383, and 26384) comprises over 5,000 square kilometres in the southwest corner of the Northern Territory. It is part of the Musgrave Block, which remains one of the least studied areas of Australia. This province is known to be prospective for Nickel-Copper-Platinoid mineralisation, as evidenced from exploration work on prospects in adjoining South Australia and Western Australia.

Proposed Exploration Program

Upon grant of the tenement, airborne geophysical surveying of the area is considered a first priority followed up by more detailed ground surveys where necessary to define drill-ready targets.

Tanami East Project

The Tanami East project (ELA 24260 “Goddards”) hosts significant malachite mineralisation outcropping over 1,200 metres. Elevated gold values were recorded from exploration during the

Western Desert Resources Pty Ltd Level 1, 26 Greenhill RdPO Box 83 Ph: +61 8 82741288Email info@westerndesertresources.com.au
ACN 122 301 848 Wayville Goodwood Fax:+61 8 82722838Web www.westerndesertresources.com.au
South Australia 5034 South Australia 5034

1970s, and the area is considered prospective for deposits of energy metals. The area also has potential for deposits of the IOCGU type.

Proposed Exploration Program

Upon grant of the tenement, ground gravity and airborne geophysical surveying of the area will be completed to define drill-ready targets..

For further information please contact

Norm Gardner Managing Director 08 8274 1288 info@westerndesertresources.com.au

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by John Fabray who is a member of the Australasian Institute of Mining and Metallurgy. Mr Fabray is a full time employee of Western Desert Resources Ltd and has sufficient experience relevant to the styles of mineralisation under consideration and to the subject matter of the report to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC code). Mr Fabray consents to the inclusion in the report of the matters based on his information in the form and context in which they occur.

Western Desert Resources Pty Ltd Level 1, 26 Greenhill RdPO Box 83 Ph: +61 8 82741288Email info@westerndesertresources.com.au
ACN 122 301 848 Wayville Goodwood Fax:+61 8 82722838Web www.westerndesertresources.com.au
South Australia 5034 South Australia 5034