TIVAN LIMITED — Capital/Financing Update 2012

Jun 13, 2012

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ASX ANASX ANNOUNCEMENT OUNCEMENT

14[th] June 2012

ASX CODE: TNG 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

DIRECTORS

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

PROJECTS

COMPANY SECRETARY Mount Peake: Fe-V-Ti Simon Robertson Manbarrum: Zn-Pb-Ag

East Rover: Cu-Au

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

DRILLING EXPANDS STRATEGIC METALS RESOURCE POTENTIAL AT MOUNT PEAKE

NEW DRILLING SUPPORTS EXPLORATION TARGET OF 500-700Mt[1]

Key Points:

• Wide intersections up to 206m received from RC drilling

• Consistent assay grades with existing Mount Peake Resource

• Underlines the potential of Mount Peake Project Area (MPPA) as a world-class iron-vanadium-titanium region

Australian resources company TNG Limited (ASX: TNG) is pleased to advise that a recently completed regional drilling program at its flagship Mount Peake Iron-Vanadium-Titanium Project in the Northern Territory has confirmed the potential to further increase the Company’s resource inventory in the region.

The reverse-circulation (RC) drilling programme was aimed at confirming the presence of additional magnetite-gabbro - the host to the iron-vanadiumtitanium mineralisation at the Mount Peake deposit - within very large magnetic features around the existing Mount Peake deposit. Confirmation of additional magnetite-gabbro could significantly expand the resource potential in the Mount MPPA where TNG holds over 2000km[2] of prospective ground.

Three large magnetic zones and one isolated magnetic anomaly were identified from geophysics and fieldwork to have the potential for new vanadium- and titanium-bearing magnetite zones (see Figure 1 ).

Two of these magnetic zones are now confirmed as large magnetite-rich gabbro bodies while one drill hole intersected a large granitic body in the southern anomaly. The northern anomaly drill holes intersected gneissic bodies ( see Tables 1 and 2 attached ).

Four drill holes intersected significant true widths of magnetite-rich gabbro:

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

Hole No.	From (m)	To (m)	Intersection (m)	Dip	Azimuth
12MPBFRC001	2	206	204	-60°	060°
12MPBFRC002	50	198	148	-60°	060°
12MPBFRC003	23	198	175	-60°	060°
12MPBBERC001	64	180	116	-55°	180°

Table 1:Signifincat Intersections in Magnetite-gabbro.

Drillhole 12MPBBERC001 is of particular interest as this anomaly formed part of a relatively subdued magnetic feature. The presence of magnetite gabbro in this region significantly enhances the Company’s understanding of the geology of the area and the potential for large magnetic gabbro bodies to be present even in relatively low magnetic areas.

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

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Assay results from these holes have produced grades consistent with those noted at the Mount Peake deposit (Table 2) and provide further encouragement that higher mineralised grades may exist within the magnetic features. Further drilling will be required to substantiate this but as mineralisation has been identified in this preliminary phase the potential is encouraging. It also provides encouragement to further assess untested magnetic features in the MPPA.

Hole No.	From (m)	To (m)	Length (m)	Grade	Grade	Grade TiO₂(%)
				Fe₂O₃(%)	V₂O₅(%)
12MPNRC003	48	72	24	23.36	0.20	3.00
	104	108	4	23.82	0.17	3.16
12MPBBERC001	130	164	34	21.94	0.20	4.63
Incl.	145	152	7		0.25	5.36
Incl.	159	164	5		0.30	4.60

Table 2: Significant analytical results, (XRF).

The company concludes that these results open up the potential in the MMPA for a substantial increase to the current Mount Peake JORC Indicated and Inferred Resource of 160Mt @ 0.3% V2O5, 5% TiO2 and 23% Fe ( Indicated 110Mt @ 0.29% V2O5, 5.3% TiO2 and 23% Fe; Inferred 48Mt @ 0.24% V2O5, 4.5% TiO2 and 21% Fe) .

The updated resource model compiled by Snowden Mining Consultants (published on 12[th] October 2011) revealed that the Mount Peake deposit itself remains open to the east. This together with the latest encouraging drilling results provides further support for the Company’s Exploration Target[1] for the Mount Peake Project Area (MPPA) of 500-700Mt with a grade range of 0.2-0.4% V2O5, 20-40% Fe203, 4-6% Ti02.

Further drilling to substantiate the resource potential in the MPPA leading to additional JORC estimates will be carried out during the next diamond drilling programme, that will be included in forthcoming programmes to test the copper prospects the recently acquired Mount Hardy Copper Field and Walllabana Copper project all of which fall into the broad MPPA.

All further work will be assessed following completion of the current Pre-Feasibility Study.

TNG LIMITED

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

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

TNG Limited | ASX Announcement

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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 Mineral Resources is based on information compiled by Lynn Olssen who is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of Snowden Mining Industry Consultants Pty Ltd. Lynn Olssen 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’. Lynn Olssen 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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300000 310000 320000 330000 340000 350000 360000
EL28491
EL23271
EL27070
12MPNRC003
12M P NRC002
[ [[[] Unte st ed target
12MPNRC001
E L23074 EL 27069 [ 12 MPBBEC001
Untested target 12MPBFRC001
[[[ 12MPBFRC002
12MPBFRC003
Mount Peake
Resource
Untested target
EL27941
12MPHARC001
[
EL27706
EL27787
Kilometres [´]
0 1 2 4 6 8 10
Projection: GDA94 MGA Zone 53
1:350,000
300000 310000 320000 330000 340000 350000 360000
7630000 7630000
7620000 7620000
7610000 7610000
7600000 7600000
7590000 7590000
7580000 7580000
7570000 7570000
7560000 7560000
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Figure 1: RC drill hole locations at Mount Peake

TNG Limited | ASX Announcement