TIVAN LIMITED — Capital/Financing Update 2009

Nov 24, 2009

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MINERAL RIGHTS AGREEMENT SIGNED WITH CHINESE RESOURCE COMPANY

The Directors of TNG Limited (ASX:TNG) are pleased to advise that a binding Mineral Rights Agreement has been signed today with a private Chinese resource company, Teng Fei Mining Ltd.,(TFM).

The agreement provides for the 100% sale by TNG of the rights to explore and advance the Legune Iron Ore prospect located on TNG’s 100% owned Manbarrum Project.

TFM will pay the sum of $1.4 million to TNG for the rights in two tranches with an initial amount of $840,000 paid within 7 days and the remainder $560,000 within 90 days. The sale does not affect TNG’s interests in the Manbarrum Project. The cooperation between the two companies provides for additional potential investment by TFM.

Teng Fei Mining Ltd. is a Darwin registered company backed by a private consortium of Chinese based investors with operations in the Mining and Chemicals industry in China.

TNG welcomes the signing of the agreement and would like to acknowledge the work of the Hon Konstantine Vatskalis MLA and his department, and the Northern Territory Governments China Minerals Investment attraction Strategy which provided TNG with the opportunity to meet with Chinese companies in relation to its projects.

Discussions with other Chinese companies on other TNG projects are continuing.

Yours faithfully TNG LIMITED

Paul E Burton Director & CEO 25[th] November 2009

Enquiries:

Paul E Burton Director & CEO + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 419 9290

ASX: TFM Legune