TIVAN LIMITED — Capital/Financing Update 2012

Sep 26, 2012

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ASX ANASX ANNOUNCEMENT OUNCEMENT

27 September 2012 ASX CODE: TNG

OUTSTANDING COPPER GRADES FROM PRELIMINARY FIELD WORK AT MOUNT HARDY PROJECT, NT

ASX CODE: TNG

REGISTERED OFFICE

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

ABN 12 000 817 023 ABN 12 000 817 023

Highlights:

• Initial fieldwork completed over priority targets identified by recent HELITEM[®] and ground Electro-Magnetic (EM) surveys.

• Preliminary (Niton-XRF)* rock chip results indicate outstanding copper, lead and zinc grades at four locations, including:

• Peak grades of up to 46.6% Cu at EM Target #2;

• Peak grades of up to 38.9% Cu at “Browns Mine” area;

• 36 rock chip results of >10% Cu; peak grades up to 31% Cu;

DIRECTORS

DIRECTORS Neil Biddle

Jianrong Xu Chairman Paul Burton Paul Burton MD Stuart Crow Neil Biddle Stuart Crow COMPANY SECRETARY Rex Turkington Simon Robertson Wang Zhigang

PROJECTS

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

• Strong copper-in-soil anomaly covering 550m x 160m Cu identified at “Mount Hardy” EM prospect.

• Drilling to commence in October.

Australian resources company TNG Limited (ASX: TNG) is pleased to announce that recent fieldwork at the Mount Hardy Copper Project in the Northern Territory has delivered outstanding results, with preliminary analysis of rock chip samples indicating numerous high-grade targets with peak grades of 26.4% up to 46.6% copper, 8.24% to 21.8% zinc and 14.7% to 36.8% lead .

Mount Peake: Fe-V-Ti CONTACT DETAILS Manbarrum: Zn-Pb-Ag Paul Burton | +61 8 9327 0900 East Rover: Cu-Au Nicholas Read | +61 419 929 046 McArthur: Cu Simon Robertson | +61 8 9327 0900 Mount Hardy Cu-Au Sandover Cu-Au

CONTACT DETAILS

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

Figure 1: Gossanous Rock samples from EM Target #1 with analyses (Niton XRF values*) annotated. Results include up to 26.4% Cu, 19.8% Zn and 14.7% Pb

* Cautionary Statement: All chemical analyses results quoted in this announcement are from a Niton XRF portable analyser model XLt. As such they may not be representative of the whole sample, nor should they be seen as a substitute for laboratory-based chemical analysis.

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The fieldwork program, carried out by TNG geologists, comprised soil sampling, mapping and rock chip sampling focussing on eight priority targets identified by the recently completed HELITEM[®] and ground EM surveys conducted over the Mount Hardy Project area ( refer – ASX release 16[th] July 201 2).

Initial analysis of the rock chip samples using a Niton-XRF portable analyser has returned high-grade copper results from four of these locations, including a large, coherent copper-in-soil anomaly* extending over 550m x 160m and grading above 200ppm Cu at Mount Hardy. All samples have been submitted to the laboratory for multi-element analyses.

EM Target #1

EM Target #1 (see Figure 1) is defined as a strong (250 Siemens) NW plunging shoot conductor centred at 761950mE and 7552975mN (see Figure 3).

Mapping and soil sampling in the vicinity outlined existing workings with abundant >1% Cu material, as well as significant zinc and lead values. A major fault zone trending NW/SE cuts through the area in the vicinity of the conductor and there is minor associated copper mineralization. A second NNE striking strongly mineralised copper trend appears to be cut by the WNW line.

Sampling over EM Target #1 produced rock copper results of up to 28% Cu . Along the NNE trending zone, rock copper results exceeded 1% Cu over a 100m x 25m area. Within this area 59 Niton results were greater than 1% Cu, and, of these, 36 were >10% Cu. The maximum value for copper was 31%. Zinc results show 24 samples >1% Zn (maximum 21.8% Zn ), and lead results had 40 sample analyses >1% Pb (maximum 36.8% Pb* ).

Figure 1 (above) shows a rock sample from EM Target #1 area with six Niton results ranging up to 26.4% Cu, 19.8% Zn and 14.7% Pb. This sample was from 100 metres NW of the main mineralised NNE trend.

Browns Mine Area

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Figure 2: Gossan Rock Sample from The Browns Mine area, approximately 100m west of the main workings.

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* Cautionary Statement: All chemical analyses results quoted in this announcement are from a Niton XRF portable analyser model XLt. As such they may not be representative of the whole sample, nor should they be seen as a substitute for laboratory based chemical analysis.

TNG Limited | ASX Announcement

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The Browns Mine area, 6.5km west of Mount Hardy (see Figure 3), was mapped and soil sampled over an 800m x 300m area, and a single large quartz vein hosting copper mineralisation was identified.

Strong copper mineralisation extends over a 150m strike with 14 of the 19 Niton rock results returning >1% Cu and a maximum value of 38.9% Cu. Figure 3 (lower) shows a sample from Browns with up to 26.7% Cu in Niton values.

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EM Target #2

EM Target #2 had anomalous gossans and geochemistry with a modest soil response in the area of the EM target (six values >75ppm Cu and maximum 180ppm Cu), and rock sample results from two exposed veins returning Niton values up 46.6% Cu.*

Mount Hardy Copper Mine Area

At the Mount Hardy Mine area mapping, soil sampling and rock chip/channel sampling has outlined a strong and coherent copper-in-soil anomaly covering an area of 550m x 160m and grading >200ppm Cu ( Figure 4 ).

Peak values of greater than 1% Cu were noted in the vicinity of the historic mine workings, and 11 results of >800ppm Cu outline the core area.

In addition, rock chip samples with copper grades of over 1% Cu were collected along a strike length of 400 metres. Of a total of 276 Niton readings, 129 rock sample values were >1% Cu, and of these, 58 were in excess of 10% Cu* .

Sampling of an old costean (circa 1960s) returned 50 metres of >0.1% Cu in systematic 1m sampling using Niton* analysis. The costean was oriented across strike, crossing three mineralised veins mapped at surface. Seven values exceeded 1% Cu, with peak values of 4.1% Cu, 4.9% Cu, 8.6% Cu and 9.1% Cu. Rock samples (continuous channel chips) have been submitted for analysis.

Comment

TNG’s Managing Director, Mr Paul Burton, said he was encouraged by the field work results from Mount Hardy, which confirmed the excellent prospectivity of the region and underlined the success of TNG’s exploration techniques.

“While these are only preliminary results and, subject to final laboratory assay, we are very encouraged by the high copper grades that have been returned from these initial prospects, which highlight how effective the state-of-the-art HELITEM[®] survey system has been in identifying mineralised targets. EM Targets 1 and 2 have turned out to be exceptional,” he said.

Final assay results from the rock chip sampling program are expected to be received from the laboratory in early October, allowing a full assessment of the fieldwork program.

TNG is then planning to commence drilling at the most promising EM targets – Targets 1, 2, 4 and 5 (see Figure 3) – during the next Quarter, pending receipt of necessary approvals, and will also commence further field sampling work including re-sampling located historic drill core to gauge hypogene mineralisation style. Subject to receipt of approvals, drilling should commence in October.

* Cautionary Statement: All chemical analyses results quoted in this announcement are from a Niton XRF portable analyser model XLt. As such they may not be representative of the whole sample, nor should they be seen as a substitute for laboratory based chemical analysis.

TNG Limited | ASX Announcement

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Mr Burton said TNG has an exceptionally active exploration program planned over the forthcoming year.

“TNG has one of the largest portfolios of prospective copper ground in the Northern Territory with over 8,000km[2 ] under licence. We are increasingly excited by the high quality of our copper assets in the Northern Territory, with each of the exploration programs we’ve conducted to date highlighting potential for the delineation of economic copper mineralisation,” he said.

“The further exploration of this portfolio will be a key focus for TNG throughout 2013 in parallel with the development of our flagship Mount Peake strategic metals project.”

Paul E Burton Managing Director

Enquiries:

Paul E Burton, Managing Director + 61 (0) 8 9327 0900

Nicholas Read Read Corporate + 61 (0) 8 9388 1474

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results and Exploration Targets are based on information compiled by Mr Paul Burton, B.Sc, M.Sc, is also a Member of The Australasian Institute of Mining and Metallurgy , and an employee and Director of TNG Limited. Mr 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’. Mr 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 Geophysical Results and Targets are based on information compiled by Ben Jones who is also a Member of The Australasian Institute of Mining and Metallurgy , and an employee and Director of TNG Limited. Mr Jones 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’. Mr Jones 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 3: Outline of prospect and target areas over Mount Hardy Project Area, showing locations of soil and rock sample sites plotted on a portion of the HELITEM[®] data image

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EM Target #6
-22°05' EL 29219
EL 27892
Browns Mine Area
EM Target #2
-22°06'
Mount Hardy Mine Area
EM Target #1
-22°07'
EM Target #3
EM Target #4
EM Target #5
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TNG Limited | ASX Announcement

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Figure 4: Copper-in-soil (Niton*) anomaly outline at the Mount Hardy Mine area (Contoured values – yellow 200ppm Cu, orange 400ppm Cu)

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88.55
116.32 88.53 55.73 70.18 45.13
84.26 111.83 98.96 103.01 72.27
86.22 76.65 113.16 95.45 78.38
119.36 110.33 77.91 99.16 83.74
127.88 119.4 171.68 116.09 105.22
7,553,00 0 mN5 3 9 . 1 9 3 9 . 27 1 1 0 . 2 9 1 53. 1 6 1 8 8.4 3 21 6 . 1 2 1 5 9 . 5 5 5 9 .16
38.14 41.6 66.59 140.53 167.41 397.65 973.86 240.62 Mount Hardy Mine Area 81.93
5 38.33 71.66 130.21 239.3 507.14 47,049.04 516.27 99.67
5 38.82 62.61 89.37 175.73 294.75 918.43 11,218.64 788.27 103.31
36.25 58.76 74.6 121.22 218 457.13 936.46 1,851.35 397.84 68.97
5 36.86 99.93 105.54 306.01 893.31 1,257.41 1,529.6 308.86 62.74
5 38.75 101.22 70.05 362.25 3,199.35 940.07 867.49 244.37 68.06
38.81 54.99 115.02 108.79 266.84 794.07 407.64 243.83 213.49 68.43
5 40.99 263.58 244.52 381.02 280.64 381.81 102.88 90.31 70.24
28.01 39.73 221.63 140.49 516.44 101.05 133.07 96.75 50.65 243.82
7, 552 , 80 0 mN5 6 . 43 6 0 . 0 4 1 6 3 . 3 4 2 6 4 . 4 2 3 2 1 . 9 2 7 1 .7 9 2 9 .96 52 . 9 3 7 . 3 6 5
37.86 40.03 166.78 104.2 29.76 39.47 295.33 69.09 5 32.16
5 63.83 957.15 78.1 40.35 62.36 65.08 61.49 53.45 49.17
25.26 39.89 79.42 75.08 39.67 40.26 59.58 50.12 49.52 37.47
40.31 55.37 27.7 33.77 36.44 46.44 35.02 105.68 5 5
54.67 39.23 28.16 32.24 41.88 5 76.89 57.05 72.94 28.49
338.03 43 32.32 28.85 29.79 5 25.84 64.31 41.71 26.77
190.8 43.23 5 5 5 52.3 79.68 44.73 28.3 28.73
129.61 38.18 37.99 5 5 43.83 130.04 59.24 33.61 28.72
174.07 5 34.44 27.34 41.14 40.22 5 24.75
7,552,60 0 mN 7 8 . 2 7 5 7 3 . 1 5 3 0 .3 3 2 .22 5 2 9 . 9 8 5
41.89 5 5 5 5 5 5 30.44
47.49 5 25.64 5 5 5 5 5
61.73 5 27.68 5 32.13 5 35.89 5
35.9 29.89 5 30.74 33.94 25.46 5 5
0 67.28 5 400.0 5 44.81 25.96 5 27.98 5
metres
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* Cautionary Statement: All chemical analyses results quoted in this announcement are from a Niton XRF portable analyser model XLt. As such they may not be representative of the whole sample, nor should they be seen as a substitute for laboratory based chemical analysis.

TNG Limited | ASX Announcement