TIVAN LIMITED — Capital/Financing Update 2009

Jul 19, 2009

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DRILLING COMMENCES AT BROWNS PROSPECT, MANBARRUM ZINC PROJECT (NT)

KEY POINTS

• 1,000m diamond drilling program underway at five drill targets at the Browns Prospect

• Browns is defined by the largest IP anomaly at the Manbarrum Project extending over 2km, plus anomalous copper and zinc results in soils

• First drilling at Manbarrum since 2007 to test potential to expand existing zinc-leadsilver resource inventory The Directors of TNG Limited (ASX:TNG) are pleased to advise that a program of diamond drilling has commenced at the Browns Prospect, part of its 100%-owned Manbarrum Zinc-Lead-Silver Project, located 80km north-east of Kununurra in the Northern Territory, (Figure 1). This strategic drilling program – the first to be conducted at Manbarrum since the major 2007 drilling program – is designed to test one of the key exploration targets previously identified by TNG within the Manbarrum Project area. The Company has already delineated a significant inventory of zinc-lead-silver resources at Sandy Creek and Djibitgun within an emerging Mississippi Valley Type (MVT) base metal district. The Browns Prospect is defined by a strong Induced Polarisation (IP) anomaly approximately 2km in strike length and of similar amplitude to the IP response defining the Sandy Creek zinc-lead-silver deposit, located 6km to the south west (Figure 1). It is the largest IP anomaly defined to date within the Manbarrum Project area (Figure 2).. The prospect was not previously drilled by TNG as the anomaly extended outside the original tenement area. TNG was granted an additional licence, A26581, in August 2008 providing security of tenure over this high priority target. As previously reported in March 2009, the Browns Prospect also has coincidental zinc-copper-leadsilver anomalism in soils and rock chip samples from the nearby Browns Hill have also recorded assays of 2.9% Zn and 48 g/t Ag, confirming the prospectivity of this anomalous zone, (Figure 3).. Re-modelling of both the gravity and IP over the target area has highlighted five combined structural and chargeable zones which will be drilled in the current programme.

ASX: Manbarrum

The Company also plans to drill two diamond holes into the Sandy Creek deposit for further metallurgical test work and to test the previously reported variance between the metallurgical results of 4% Zn and the previous drill results of 2% Zn.

Yours faithfully TNG LIMITED

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Paul Burton Exploration Director 20th July 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.

Enquiries:

Paul E Burton Exploration Director + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 419 929 046

ASX: Manbarrum

Figure 1: Location of prospects, Manbarrum Project.

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Figure 2: 150m Chargeability Depth slice highlighting the extent and amplitude of the Browns Prospect chargeable zone

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ASX: Manbarr

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Figure 3: Browns IP anomaly.
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ASX: Manbarrum

Figure 4: Zn in Soils Red > 100 ppm

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ASX: Manbarrum