TIVAN LIMITED — Capital/Financing Update 2012

May 28, 2012

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ASX ANASX ANNOUNCEMENT OUNCEMENT

ACQUISITION OF MOUNT HARDY COPPER FIELD

29 May 2012

ASX CODE: TNG

ASX CODE: TNG

HISTORICAL ROCK CHIP GRADES UP TO 19% COPPER

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 Paul Burton MD Paul Burton Stuart Crow

Neil Biddle Stuart Crow COMPANY SECRETARY Rex Turkington Simon Robertson Wang Zhigang Jianrong Xu PROJECTS Mount Peake: Fe-V-Ti COMPANY SECRETARY Manbarrum: Zn-Pb-Ag Simon Robertson East Rover: Cu-Au

McArthur: Cu

PROJECTS

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

Key Points:

• Acquisition of new 101.76km[2] tenement in highly prospective Mount Hardy Copper Field from Walla Mines Ltd

• Historical rock chip samples from Mount Hardy region range from 5% to 19% copper, up to 18% lead, 1.52% zinc, 2.66 g/t gold, and 170 g/t silver

• Limited modern exploration combined with anomalous previous work supports good potential for discovery of new mineralisation

• Acquisition represents a significant expansion to TNG’s copper exploration assets in the Northern Territory

Australian resources company TNG Limited (ASX: TNG) is pleased to advise that it has signed a binding agreement to acquire a new tenement, EL 27892, in the Mount Hardy region, approximately 300km north-west of Alice Springs in the Northern Territory.

The acquisition agreement is with public unlisted company, Walla Mines Ltd, and the tenement covers the main portion of the historic Mount Hardy Copper Field, which is located adjacent and immediately south of TNG’s existing tenement ELA 29219 which covers the northern extension of the known copper field ( see Figure 1 ).

Subject to completion of due diligence and all regulatory approvals, TNG will pay $200,000 cash as consideration for the tenement.

The Mount Hardy copper mines and prospects were discovered in 1935 and are within the Lander Group geological formation, which is the dominant host rock for copper and gold mineralisation in the area. The Lander Group is interpreted to be stratigraphically equivalent to the Tanami Group, which hosts the significant gold discoveries at The Granites, Dead Bullock Soak and Coyote.

Historical rock chip sampling in the Mount Hardy area by White Industries (early 1990’s) and Tanami Gold NL (2002) returned numerous anomalous copper results, with peak grades of up to 19% copper, 18% lead, 1.52% zinc, 2.66 g/t gold, and 170 g/t silver.

TNG has established that these results may indicate additional potential for Volcanogenic Massive Sulphide mineralisation at depth.

Previous work has been focused on near surface gold exploration, with only limited drilling to shallow depths of less than 50m and no modern geophysical surveys have been completed over the area.

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In 1967 the Mines Branch of the NT Administration completed 7 shallow diamond drill holes totalling 504m in the area (source: Walla Mines). Significant intersections are :

				Grade Cu(%)	Grade (g/t Au)	Grade (g/t Ag)
Hole No.	From (m)	To (m)	Length (m)
DDH 1	52.35	52.5	0.15	0.405	1.38
inc.	58.70	59.0	0.30	5
DDH 3	39.6	44.5	4.9	1.96
			2.13	3.66	0.59	14.4
DDH 4	7.60	12.5	4.9	2.80
inc.			1.22	7.83		14.9
inc.	14.0	17.7	3.7	1.90

Table 1: Significant intersections from historic (1967) diamond core (Source: Walla Mines ).

Managing Director of TNG, Mr Paul Burton, said the Company is currently completing preparations for a detailed assessment of the Mount Hardy project area, with an exploration programme to commence as soon as possible.

“TNG intends to undertake significant copper exploration programmes throughout 2012. This acquisition is consistent with the Company’s strategy in the region and represents an exciting new addition to the portfolio of copper exploration assets in the Northern Territory, which include the McArthur and Sandover copper projects, as well as the region surrounding our Mount Peake Strategic Metals Project which includes the highly prospective Walabanba Joint Venture that was recently announced with Toro Energy.”

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

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.

TNG Limited | ASX Announcement

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Figure 1 : Location of Mount Hardy Copper Field and significant copper results.