TIVAN LIMITED — Capital/Financing Update 2011

Sep 6, 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

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

TNG RECEIVES INITIAL $2M PAYMENT UNDER STRATEGIC PARTNERSHIP WITH CHINA’S ECE

Key Points:

• Initial funding of $2M received under recently announced transaction with Jiangsu Eastern China Non-Ferrous Metals Investment Holding Company Ltd., (“ECE”).

• Funds will be used to underpin ongoing Pre-Feasibility work on the Mount Peake Iron Vanadium Titanium-Project, NT.

• Due diligence processes proceeding on schedule to enable completion of approvals and the broader transaction, including ECE’s planned $13.4M investment in TNG.

• Funds will also support pilot plant test work program to commercialise the TIVAN™ hydrometallurgical process.

Australian resources company TNG Limited (ASX: TNG) is pleased to advise that it has received an initial funding injection of $2 million under the terms of the binding Letter of Intent (LOI) announced on 3 August 2011 with Jiangsu Eastern China Non-Ferrous Metals Investment Holding Company Ltd., (“ECE”).

TNG has received the funds under a loan facility by a private company introduced by ECE. The facility is designed to provide interim working capital prior to completion of the main transaction.

TNG is also pleased to report that the due diligence process is proceeding on schedule with ECE’s due diligence clearing the way for the process of obtaining other key approvals. This includes TNG shareholder approval and other regulatory approvals including the Australian Foreign Investment Review Board and Jiangsu Provincial People’s Government.

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

TNG has appointed an Independent Expert for the shareholder Notice of Meeting, and this valuation report and its own due diligence on ECE is nearing completion.

ECE is a major Chinese mineral exploration, development and mining group, established in 1955, and based in Nanjing. It has over 4,000 employees and is one of the few organisations authorised by the Chinese Government to carry out geological exploration and scientific research in major State classified projects. ECE has discovered more than 160 ore deposits in China with a potential value of in excess of $10 billion.

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TNG’s Managing Director, Mr Paul Burton, said he was pleased to report that the transaction with ECE announced on 3 August was progressing well and on schedule.

“The receipt of this interim funding of $2 million provides confidence in the intention of both parties under the LOI, and ensures that we can continue to maintain our pace of exploration, pre-feasibility and development work at Mount Peake while we complete the approvals and documentation required to conclude the broader transaction and Strategic Alliance,” Mr Burton said.

“We are looking forward to concluding this transaction, which will lay the foundations for further growth of the company and 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 07 September 2011

Enquiries:

Paul E Burton, Managing Director Nicholas Read, Read Corporate

• 61 (0) 8 9327 0900

• 61 (0) 419 929 046

TNG Limited | ASX Announcement