TIVAN LIMITED — Capital/Financing Update 2010

Jan 26, 2010

ASX/MEDIA ANNOUNCEMENT 27[th] January 2009 ASX Code: “WDR”

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Fast Facts
ASX code WDR
Cap Structure Jan 10
Issued Shares 128Mil
Market Cap A$M70
Cash + Investments A$M10.4
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DRILLING COMMENCES AT THE EAST ROVER GOLD/COPPER PROJECT, NORTHERN TERRITORY

Key Highlights

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Directors
Norm Gardner MD
Mick Ashton Director
Graham Bubner Director
David Cloke Director
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• Drilling programme commenced 26/1/2010

• Eight magnetic targets to be tested

• Joint venture with TNG Ltd

• WDR earning 51% stake

• WDR has right to earn 80% by spending an additional $850,000 on exploration

Company Highlights

• Iron Ore

• Roper Bar JV & Mountain Creek project (NT)

• Hematitic iron ore

• Total Inferred Mineral Resource 116Mt @ 39% Fe including potential DSO of 7Mt @ 59% Fe(Roper Bar JV)

• Low Impurities

• Aggressive exploration planned

• Proximity to coast and markets

Western Desert Resources Limited (ASX code “WDR”) and TNG Ltd (ASX code “TNG”) are pleased to announce that drilling has commenced on the East Rover gold/copper project near Tennant Creek in the Northern Territory.

The first drillhole is located at magnetic anomaly C5 (Figure 1). Reverse Circulation drilling will be used to test eight magnetic targets within the northern portion of EL25581. The programme should be completed within 2-3 weeks and follow up diamond drilling will be undertaken on any targets which show promise.

• Gold / Copper

• East Rover Project near Tennant Creek (NT)

The project area lies immediately to the east of the Rover field where Westgold Resources and Adelaide Resources have announced high grade gold and copper intersections in magnetic ironstones.

Contact Details

Level 1 26 Greenhill Rd WAYVILLE, SA, 5034

• T: +61 8 8177 8800 F: +61 8 8272 2838 E: info@westerndesertresources.com.au ABN: 48 122 301 848

WDR has a farm-in agreement with TNG over two granted exploration licences (EL24471 and EL25581) and two exploration licence applications south of Tennant Creek in the Northern Territory (Figure 1). The agreement requires WDR to spend $500,000 to earn a 51% interest in the tenements. WDR should complete the initial spend shortly. WDR can then elect to spend an additional $850,000 over 30 months to earn a further 29% share for a total 80% interest in the tenements.

For further information please contact:

Norm Gardner

Managing Director

(08) 8177 8800 info@westerndesertresources.com.au

Competent Person’s Statements

The information in this report that relates to Exploration Results, Mineral Resources and 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 .

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Figure 1