TIVAN LIMITED — Capital/Financing Update 2013

Sep 30, 2013

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TNG TO ACQUIRE 100% OF TIVAN™ METALLURGICAL PROCESS

ASX ANNOUNCEMENT 1 October 2013

Ownership consolidation of revolutionary hydrometallurgical process another important milestone for TNG

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 Jianrong Xu Paul Burton Michael Evans Stuart Crow Rex Turkington Wang Zhigang

COMPANY SECRETARY Simon Robertson

PROJECTS

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

TNG Limited (ASX: TNG) is pleased to announce that it has signed a binding agreement with process engineering group Mineral Engineering Technical Services Pty Ltd (“METS”) to acquire 100% of the revolutionary TIVAN™ hydrometallurgical process for titanomagnetite hosted vanadium ores.

The TIVAN™ process and technology is currently jointly owned and has been co-developed by TNG and METS over the past four years. TNG is the sole owner of the TIVAN™ trademark.

TIVAN™ was developed as a cost-effective alternative to conventional pyro-metallurgical processes for vanadium ores, and forms a central plank of TNG’s development plan for its flagship Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory. The process is designed to produce high purity vanadium-pentoxide, iron-oxide and titanium-dioxide products which are fore-cast to be in high demand.

Under the agreement, METS will assign its interest in the technology to TNG on the following terms, with the current TNG/METS share agreement to be cancelled and TNG to become 100% owner of the patent and process for nil consideration, providing:

• a) METS remains the preferred contractor/consultant for the continued development of TIVAN™ subject to standard work agreements, budgets and any approvals;

• b) Any subsequent developments and improvements in relation to the IP remain with the TIVAN™ patent and ownership by TNG;

• c) METS retain 25% percentage of any up-front Licence Fee that TNG reaches with any other third party to use the TIVAN™ process;

• d) METS can undertake testwork for other companies wishing to use the TIVAN™ process, provided the other company understand that a licence fee will ultimately be required to be negotiated, on reasonable terms, with TNG; and

• e) METS is entitled to 25% of any royalty payment that TNG negotiates with any third party licensee using the TIVAN™ technology.

TNG’s Managing Director, Mr Paul Burton, said he was pleased to have reached this agreement with METS to consolidated 100 per cent ownership of the TIVAN™ Process within TNG. “It is important for the commercialisation of the process that the technology ownership is crystallised with a beneficial outcome for

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both parties,” he said. “This agreement with METS achieves that and places us in a strong position to move forward to complete the final commercialisation of the TIVAN™ Process as part of the Mount Peake Definitive Feasibility Study, and importantly provides a potential new business strategy for the company and shareholders” he added.

Paul E Burton

Managing Director

30 September 2013

Enquiries:

Paul E Burton,

Managing Director + 61 (0) 8 9327 0900

Nicholas Read

Read Corporate + 61 (0) 8 9388 1474

Forward-Looking Statements

This announcement has been prepared by TNG Ltd. This announcement is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained.

This is for information purposes only. Neither this nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of TNG Ltd shares in any jurisdiction.

This does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, TNG Ltd, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this announcement. No responsibility for any errors or omissions from this arising out of negligence or otherwise is accepted.

This may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of TNG Ltd. Actual values, results or events may be materially different to those expressed or implied.

About TNG:

TNG Ltd is a junior exploration company with a focus on exploration and development of projects in the Northern Territory of Australia.

The company is currently developing its 100% owned world class Mount Peake Vanadium –Titanium – Iron project which is currently in the Definitive Feasibility Stage, with anticipated production in 2015. In addition it is also actively exploring its copper projects including its 100% owned Mt Hardy project which is emerging as a potential major Copper/Gold and polymetalic project.

The company has joint ventures on its other projects with Rio Tinto, Norilsk, and Western Desert Resources and strategic investment from AoZhong Ltd., a 100% owned subsidiary of China’s ECE Ltd.

For more information please see the company’s website at www.tngltd.com.au

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