TIVAN LIMITED — Capital/Financing Update 2011

Aug 15, 2011

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ASX ANNOUNCEMENT

February 2011

ASX CODE : TNG

REGISTERED OFFICE TNG Limited Level 1, 282 Rokeby Road Subiaco, Western Australia 6008

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

W www.tngltd.com.au E corporate@tngltd.com.au

ABN 12 000 817 023

DIRECTORS Neil Biddle Paul Burton Stuart Crow

COMPANY SECRETARY Simon Robertson

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

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

RESOURCE DRILLING COMPLETED AND POTENTIAL NEW VANADIUM – BEARING MAGNETITE ZONES IDENTIFIED MOUNT PEAKE IRON-VANADIUM PROJECT

Highlights

• Program of 23 RC drill holes completed for 2,748m.

• Continuous homogeneous magnetite mineralisation intersected.

• Samples shipped to laboratory for assay.

• Potential new vanadium-bearing magnetite zone identified 3km east of Mount Peake deposit.

Australian resources company TNG Limited (ASX: TNG) is pleased to advise that reverse circulation (RC) drilling has now been completed at its flagship Mount Peake Iron-Vanadium-Titanium Project in the Northern Territory ( see Figure 1 ).

A total of 23 RC drill holes were completed for a total of 2,748m of drilling, which was designed to provide further information for a revised resource estimate ( see Figure 2 ).

A total of 2,243 samples have been shipped to the laboratory for assay. Results are expected to be available in 3-4 weeks.

As previously reported to the ASX, logging of drill material in both the recent diamond drilling and this phase of RC drilling has indicated the presence of continuous magnetite mineralisation over significant widths. The intersections are representative of true width and reflect homogeneous magnetite mineralisation ( see Appendix 1 ).

The drilling has also demonstrated the shallow nature of the overburden, which has positive implications for the future mine plan at Mount Peake.

The grade and widths reported from the drilling to date are expected to provide support for an increase in both tonnes and grade in the next JORC resource update for the Mount Peake Project, which will be undertaken by Snowden Mining Industry Consultants once all the information is available.

- Potential New Regional Titanium Vanadium Discovery

TNG is also pleased to report that it has identified two potential new vanadiumbearing magnetite zones within TNG’s 100% owned licenses at the Mount Peake Project ( See Figure 3 ).

During regional sampling a surface grab sample of magnetic material from a large magnetic anomaly located 3km east of the Mount Peake deposit and extending over an area of 5km x 1km, was collected and assayed using the Company's portable NITON XRF[1] analyzer.

Results from the NITON recorded anomalously high readings of 22% for titanium , 0.4% for vanadium and 56% for iron . Samples have been collected for confirmation by laboratory XRF analysis.

1 Niton is a field portable hand held Xray Fluorescence Analytical instrument. Values recorded may not be equivalent to laboratory generated assays, may be subject to external factors but are a qualitative guide.

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The Company has also identified a second large magnetic body from re-assessment of available geophysics located 10km to the south-east of the Mount Peake deposit ( see Figure 3 ). This has a similar geophysical response and signature to both the Mount Peake deposit and the newly identified magnetite anomaly to the east.

Both new targets provide further support for the Company’s Exploration Target[2] for the area of between 500 – 700Mt (at average grades of 0.2-0.4% V205, 5-9% TiO2, 25-35% Fe).

These targets will be explored during the next field programme

TNG LIMITED

Paul E Burton Managing Director 16 August 2011

Enquiries:

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

2 The potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resources.

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Paul Burton who is a Member of The Australasian Institute of Mining and Metallurgy , an employee and 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.

The information in this report that relates to Financial and Mining analysis is based on information compiled by Jeremy Peters who is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of Snowden Mining Industry Consultants Pty Ltd. Jeremy Peters 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’. Jeremy Peters consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

TNG Limited | ASX Announcement

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Figure 1: Mount Peake Location Map

TNG Limited | ASX Announcement

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Figure 2: Mount Peake Deposit Completed 2011 RC Drill Holes

TNG Limited | ASX Announcement

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Figure 3: Mount Peake New Target Areas

TNG Limited | ASX Announcement

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Appendix 1:

2011 Mount Peake RC drilling

								Minimum Mineralised Intersection (M)
Hole No	Easting	Northing	Azim.	Dip	**From **	To	Lithology
11MPRC021	322600	7605600	90	-60	0	16	Transported overburden
					16	60	Olivine gabbro
11MPRC022	322525	7605600	90	-60	0	18	Transported overburden
					18	60	Olivine gabbro
11MPRC023	322600	7605800	90	-60	0	16	Transported overburden
					16	66	Magnetite olivine gabbro and magnetite peridotite	50
11MPRC024	322400	7605800	90	-60	0	7	Transported overburden
					7	15	Granite?
					15	35	Weathered gabbro
					35	66	Magnetite olivine gabbro and magnetite peridotite	31
11MPRC025	322450	7606000	90	-60	0	16	Overburden
					16	27	Weathered gabbro
					27	72	Weatheredmagnetite olivine gabbro
11MPRC026	322675	7606200	90	-60	0	13	Overburden
					13	19	Weathered gabbro	45
					19	102	Magnetite olivine gabbro
11MPRC027	322475	7606200	90	-60	0	9	Transported overburden
					9	27	Weathered gabbro
					27	150	Weathered magnetite olivine gabbro	123
11MPRC028	322300	7606200	90	-60	0	13	Transported overburden
					13	43	Weathered granite
					43	150	Magnetite olivine gabbro	107
11MPRC029	322690	7606400	90	-60	0	11	Transported overburden
					11	28	Weathered gabbro
					28	50	Gabbro
					50	126	Magnetite olivine gabbro and magnetite peridotite	76
11MPRC030	322500	7606400	90	-60	0	8	Transported overburden
					8	27	Weathered gabbro
					27	150	Magnetite olivine gabbro	123
11MPRC031	322300	7606400	90	-60	0	10	Transported overburden
					10	68	Granite
					68	150	Gabbro
11MPRC032	322700	7606600	90	-60	0	9	Transported overburden
					9	29	Weathered gabbro
					29	52	Gabbro
					52	126	Magnetite olivine gabbro and magnetite peridotite	74
11MPRC033	322500	7606600	90	-60	0	7	Transported overburden
					7	35	Weathered gabbro
					35	132	Magnetite olivine gabbro and magnetite peridotite	97

TNG Limited | ASX Announcement

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								Minimum Mineralised **Intersection **
Hole No	Easting	Northing	Azim.	Dip	**From **	To	Lithology
11MPRC034	322775	7606800	90	-60	0	7	Transported overburden
					7	33	Weathered gabbro
					33	52	Gabbro
					52	132	Magnetite olivine gabbro and magnetite peridotite	80
11MPRC035	322660	7606800	90	-60	0	6	Transported overburden
					6	21	Weathered gabbro
					21	49	Gabbro
					49	132	Magnetite olivine gabbro and magnetite peridotite	83
11MPRC036	322825	7607000	90	-60	0	5	Transported overburden
					5	34	Weathered gabbro
					34	49	Gabbro
					49	120	Magnetite olivine gabbro	71
11MPRC037	322750	7607000	90	-60	0	5	Transported overburden
					5	40	Weathered gabbro
					40	50	Gabbro
					50	108	Magnetite olivine gabbro	58
11MPRC038	322875	7607200	90	-60	0	5	Transported overburden
					5	39	Weathered gabbro
					39	66	Gabbro
					66	156	Magnetite olivine gabbro and magnetite peridotite	90
11MPRC039	322725	7607200	90	-60	0	2	Transported overburden
					1	57	Granite
					57	150	Magnetite olivine gabbro	93
11MPRC040	322975	7607400	90	-60	0	4	Transported overburden
					4	31	Weathered magnetite olivine gabbro
					31	120	Magnetite olivine gabbro	116
11MPRC041	322850	7607400	90	-60	0	2	Transported overburden
					2	45	Granite
					45	49	Faultzone
					49	120	Magnetite olivine gabbro	71
11MPRC042	322350	7606200	90	-60	0	8	Transported overburden
					8	18	Granite
					18	34	Granite and gabbro in faultzone
					34	150	Magnetite olivine gabbro and magnetite peridotite	116
11MPRC043	322350	7606400	90	-60	0	4	Transported overburden
					4	31	Granite
					31	150	Magnetite olivine gabbro	119

TNG Limited | ASX Announcement

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Regional Holes:

								Minimum Mineralised Intersection
Hole No	Easting	Northing	Azim.	Dip	From	To	Lithology
G34RC001	317605	7599920	270	-55	0	10	Tranported overburden
					10	69	Sandstone with trace micas and heavy minerals
					69	73	Micaceous calc-arenite
					73	75	Oxidised graphitic shale
					75	79	Graphitic shale/ sandstone
					79	137	Sandstone with trace micas andheavyminerals	85-86 and 108-109 diseminated pyrite
					137	178	Micaceous calc-arenite
					178	180	Graphitic shale
The graphitic shales explain the EM anomaly
M1RC001	316530	7616620		-90	0	6	Transported overburden
					6	44	Weathered granite/ granitic gneiss
					44	54	Mixed granite and amphibolite
					54	67	Amphibolite. Melanocratic with quartz veins.
					67	69	Mixed granite and amphibolite
					69	90	Amphibolite. Melanocratic withquartz veins.
							Poor sample recovery 80-81m and 85-88m
The amphibolite explains the weak gravity high and magnetic low.

TNG Limited | ASX Announcement