TIVAN LIMITED — Capital/Financing Update 2009

Dec 7, 2009

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TNG SECURES OPTION OVER ROVER NORTH GOLD PROSPECT, TENNANT CREEK

• TNG signs Option Agreement to acquire Exploration Licence in prospective area north of Rover prospects, Tennant Creek

• Applications cover significant IOCG-style copper-gold targets

Diversified metals group TNG Limited (ASX: TNG ) is pleased to announce that it has secured an option over a highly prospective tenement located to the north of the emerging Rover Gold Field, located south-west of Tennant Creek in the Northern Territory ( see Figure 1 ).

The Company has significantly increased its exploration landholding in the Rover area by signing an option agreement to obtain ELA 26236, which covers significant magnetic and gravity anomalies that are considered to represent Iron Oxide Copper Gold (IOCG) targets (see Figure 2).

This area is currently experiencing a major wave of new exploration for IOCG-style copper-gold deposits as well as Tennant Creek-style copper-gold mineralisation. Westgold Resources NL (ASX: WGR) has enjoyed considerable exploration success at its Rover-1 Project, to the west of TNG’s tenements, where it is moving towards an initial JORC compliant resource estimate.

Other discoveries have also been announced by companies including Adelaide Resources Limited.

Previous drilling on the edges of the anomaly in ELA 26236 has returned results including 2m @ 5g/t Au.

The option agreement is subject to the grant of the Exploration Licence and provides for a cash payment of $50,000 and the issue of 2 million shares and 5 million options upon grant.

Yours faithfully TNG LIMITED

Paul Burton Director & CEO 8[th] December 2009

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by 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 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.

ASX: Mount Peake

Enquiries:

Paul E Burton Director & CEO + 61 (0) 8 9327 0900

Nicholas Read Read Corporate + 61 (0) 419 929 046

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Figure 1: Project Location

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Figure 2: IOCG Gravity target and previous drill results.

ASX: Mount Peake