TIVAN LIMITED — Capital/Financing Update 2009

Mar 17, 2009

ASX ANNOUNCEMENT

APPROVAL RECEIVED TO EXPLORE ROVER GOLD PROJECT, TENNANT CREEK

KEY POINTS

• Exploration Agreement signed with Traditional Owners and Central Land Council.

• Rover Project located ~1km from Westgold Resources Rover 1 Gold Project

• Excellent potential for Tennant Creek-style copper-gold mineralisation.

The Directors of TNG Limited (ASX:TNG) are pleased to advise that a Deed for Exploration has been signed with the Traditional Owners and the Central Land Council for its Rover Gold Project , located in the Tennant Creek region of the Northern Territory ( Figure 1 ).

The Rover Project (EL 25581), which is located less than 1km from Westgold Resources NL’s Rover 1 Project, is one of TNG’s main gold exploration projects with significant untested magnetic anomalies. Recent drilling by Westgold has reinforced the significant prospectivity of this region for high-grade, Tennant Creek-style Copper-Gold mineralisation, including a spectacular intersection of 65 metres at 11g/t Au from its Rover 1 prospect which lies adjacent to TNG’s EL 25581, ( Figure 2 ).

The Rover Field was first discovered in the late 1970s but has seen very limited modern exploration, mainly due to access issues. The Field is considered to represent a western extension of the Tennant Creek Mineral Field, which produced over 5.5 million ounces of gold and 470,000 tonnes of copper from famous deposits such as Warrego and White Devil.

Under a Joint Venture arrangement with TNG, ASX-listed Western Desert Resources Ltd. (ASX: WDR) has the opportunity to earn an initial 51% interest in the Rover Project by spending A$500,000. WDR has the option to increase its interest to 80% by additional expenditure of $850,000, after which TNG will be free carried to Bankable Feasibility. WDR will commence exploration later in March with a detailed airborne magnetic survey followed by diamond drilling.

The Access and Exploration Agreement reached with the Traditional Owners is a result of lengthy negotiations to protect all stakeholders’ interests and TNG is pleased with the result enabling exploration to commence in 2009.

Yours faithfully TNG LIMITED

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Paul Burton Exploration Director 18[th] March 2009

ASX: Rover 1

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:

Neil G Biddle Managing Director + 61 (0) 418 915 752 Paul E Burton Exploration Director + 61 (0) 8 9327 0918 Nicholas Read Read Corporate + 61 (0) 419 929 046

ASX: Rover 2

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Figure 1: Location of EL 25581, Rover Project.

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Figure 2: Regional Magnetic image with Exploration licence and prospect locations.

ASX: Rover 3