TIVAN LIMITED — Capital/Financing Update 2011

Sep 26, 2011

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ASX ANASX ANNOUNCEMENT OUNCEMENT

ASX CODE: TNG ASX CODE: TNG

REGISTERED OFREGISTERED O F ICE FICE TNG Limited TNG Limited Level 1, 282 Rokeby Road Level 1, 282 Rokeby Road Subiaco, Western Australia 6008 Subiaco, Western Australia 6008

T +61 8 9327 0900 T +61 8 9327 0900 F +61 8 9327 0901 F +61 8 9327 0901

W wW ww .tngltd.com.au w.tngltd.com.au E corporate@tngltd.com.au E corporate@tngltd.com.au

ECE RECEIVES KEY CHINESE GOVERNMENT APPROVAL FOR $13.4M INVESTMENT IN TNG

NDRC APPROVES CAPITAL RAISING AND STRATEGIC ALLIANCE

Key Points:

• Notice of approval received from Jiangsu Provincial branch of the National Development and Reform Commission (NDRC) for proposed transaction with ECE.

• Represents one of the key approvals in the overall transaction

• Initial funding of $2M already received.

• Legal and Financial Due Diligence proceeding on schedule.

ABN 12 000 817 023 ABN 12 000 817 023

DIRECTORS DIRECTORS Neil Biddle Neil Biddle Paul Burton Paul Burton Stuart Crow Stuart Crow

COMPANY SECRETARY COMPANY SECRETARY Simon Robertson Simon Robertson

PROJECTS PROJECTS Mount Peake: Fe-V-Ti Mount Peake: Fe-V-Ti Manbarrum: Zn-Pb-Ag Manbarrum: Zn-Pb-Ag East Rover: Cu-Au East Rover: Cu-Au McArthur: Cu McArthur: Cu

CONTACT DETAILS CONTACT DETAILS Paul Burton | +61 8 9327 0900 Paul Burton | +61 8 9327 0900 Nicholas Read | +61 419 929 046 Nicholas Read | +61 419 929 046 Simon Robertson | +61 8 9327 0900Simon Robertson | +61 8 9327 0900

Australian resources company TNG Limited (ASX: TNG) is pleased to advise that the proposed transaction with Jiangsu Eastern China NonFerrous Metals Investment Holding Company Ltd., (“ECE”) has taken another important step forward with ECE receiving approval from the Chinese Government.

The Jiangsu Provincial branch of the National Development and Reform Commission has provided its approval regarding the proposed transaction with ECE under the terms of the Letter of Intent (LOI) announced on 3 August 2011.

This marks a further significant step towards completing the broader transaction with ECE, which includes a $13.4 million funding injection at 11 cents per share and Strategic Alliance to underpin the feasibility and development of the Mount Peake Project and commercialisation of TNG’s proprietary TIVAN™ hydrometallurgical process.

TNG reported on 7 September that it had received the initial $2 million in funding under the terms of the agreement. The funds, which have been received into its bank account, are being provided under a loan facility by a private company introduced by ECE.

The facility is designed to provide interim working capital to underpin the ongoing Pre-Feasibility Study and metallurgical test work program on the Mount Peake Project.

TNG’s Managing Director, Mr Paul Burton, said he was pleased to announce the receipt of this key Chinese Government approval, which marks another important step towards completing the overall transaction.

“Other steps include TNG shareholder approval and approval from the Australian Foreign Investment Review Board,” he added.

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“We are looking forward to concluding this transaction, which will lay the foundations for the development of the Mount Peake Project as the cornerstone of a substantial ferrous metals business,” he added.

TNG LIMITED

Paul E Burton Managing Director 27 September 2011

Enquiries:

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

TNG Limited | ASX Announcement