TIVAN LIMITED — Capital/Financing Update 2016

Jun 29, 2016

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ASX ANNOUNCEMENT
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30 June 2016

TNG SECURES NEW HIGHLY PROSPECTIVE NT ZINC PROJECT FOR INCLUSION IN ITS PLANNED EXPLORATION SPIN-OFF

New exploration licence in Warumpi Province contains high-grade base and precious metal targets

Key Points

• 50km[2] EL 30131 in the Warumpi Province, NT purchased from a private vendor.

• High grade Stokes Yard base and precious metal (Zn-Cu-Pb-Ag) target outlined.

• Historical rock chip sample results include 27.5% Zn, 12.2% Pb and 7.5% Cu.

• Minimal modern exploration work conducted – underexplored tenement.

• Proposed geochemical and geophysical program outlined to define drill targets.

• Project to be included in the planned spin-off of TNG’s exploration assets (Todd River Resources).

Australian strategic metals company TNG Limited (ASX: TNG) is pleased to advise it has secured a zinc and precious metals exploration project in the highly prospective Warumpi Province to the west of Alice Springs. The acquisition is consistent with the continued broader development of TNG’s resource portfolio, with the new project to be included in the proposed spin-off of the Company’s exploration assets via its subsidiary Todd River Resources.

As part of its ongoing tenement management and portfolio development, TNG has acquired a 100% interest in Exploration Licence 30131 from the tenement-holder, Imperial Granite and Minerals Pty Ltd, for $20,000 consideration before costs.

The tenement, which was originally granted on 11 August 2014 for six years, covers 16 graticular blocks for an area of 50.45 square kilometres. It falls on Glen Helen station (NT Portion 719 Perpetual Pastoral Lease 1128), and is accessed from Alice Springs via the sealed Larapinta Drive and from there along the formed gravel Haasts Bluff/Papunya Road (Figure 1).

The tenement area falls within the central-eastern portion of Warumpi Province in the Arunta Region of central Australia. Rocks underlying the tenement are medium to high grade metamorphics, of both metavolcanic and metasedimentary origin, including calcsilicates and schists. They form part of the ca. 1600 Ma Iwapataka Metamorphic Complex and Ikuntji Metamorphics, according to the recent Northern Territory Geological Survey (NTGS) interpretation.

The project area is under-explored, with only minor exploration work being completed for uranium, gold and base metals since the early 1970’s, and no drill testing conducted in the last 40 years.

The tenement includes the Stokes Yard Zinc-Copper-Lead-Zinc Prospect , which is located on the western part of the licence (Figure 2). Historical rock chip samples from this prospect have returned results of up to 26% Zn, 7.5% Cu, 7.5% Pb and 130ppm Ag .

Sampling by the NTGS in the early 2000’s returned results including 12.2% Pb and 8.8% Zn , and the subsequent tenement holder (Northern Minerals) reported rock sample results including a 27.5% Zn analysis result.

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

ASX CODE: TNG ABN 12 000 817 023

REGISTERED OFFICE T +61 8 9327 0900 Level 1, 282 Rokeby Road F +61 8 9327 0901 Subiaco, Western Australia 6008

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The base metal mineralisation seen on the surface at the Stokes Yard prospect appears to be structurally focused, into the keel of a synformal fold in the metamorphics. It may be of a skarn (or carbonate replacement) mineralisation style, but the high metamorphic grade of the rocks and intense post-mineral deformation seen has masked most of the evidence that would indicate the original mineralising events.

The high-grade base metal mineralisation outlined to date at the Stokes Yard Prospect has many similarities with the mineralisation seen to the north at TNG’s Mount Hardy Project. At Mount Hardy, TNG has delineated several targets of this type with previous drill intersections including assays of up to 12.1% Zn and 7.2% Pb, plus thick drill intercepts such as 21.0m @ 3.5% Zn, 1.91% Pb, 0.46% Cu and 36g/t Ag at EM Target #1 ( see TNG’s ASX Announcement – 20 May 2013 ).

Stokes Yard also displays similarities with the base metal Mineral Resources outlined further to the east at the Jervois deposit, owned by KGL Resources (ASX: KGL). The recently announced Pre-Feasibility Study results from Jervois ( see KGL’s ASX Announcement 16 October 2015 ) have shown that the stratabound mineralisation extends for over 12km of strike. The current Mineral Resource inventory stands at 26.7Mt grading 1.12% Cu (for 300,000 tonnes of contained copper) and a separate 3.8Mt grading 3.7% Pb and 1.2% Zn.

The Warumpi Province has also had some recent exploration success with ABM Resources (ASX: ABU) and Independence Group (ASX: IGO) discovering significant multi-element precious and base metal mineralisation ( see ABU ASX Announcement 6 October 2015 ).

The Bumblebee Prospect, located 55km northeast of Kintore, returned first-pass drill results including 7m @ 3.3g/t Au, 37.7g/t Ag, 3.2% Cu, 1.3% Zn and 5m @ 2.4g/t Au and 1.4% Cu. Initial geological assessment of the prospect by ABM/IGO suggests a Cloncurry iron oxide copper gold (IOCG) style of mineralisation, similar to Ernest Henry in the Mount Isa Block, QLD ( see ABU ASX Announcement 6 October 2015 ).

TNG intends to rapidly assess the project through a combination of geochemical and geophysical target delineation, followed by drill testing. As with other TNG base metal assets in the Northern Territory, the Stokes Yard Project is planned to be included in the proposed Todd River Resources spin-off when market conditions allow.

TNG’s Managing Director, Mr Paul Burton, said the new project was located in the heart of a highly prospective and rapidly emerging exploration province, where recent discoveries were generating a significant amount of market interest.

“Given the recent exploration successes in the Warumpi province, this tenement offers one of the few opportunities to gain rapid access for exploration in the region given that it is not located on Aboriginal Land. This is an important strategic addition to our rich exploration portfolio in the district, and should provide a number of walk-up exploration targets,” he said.

“We are looking forward to progressing these projects as part of our proposed Todd River Resources spin-off, which we envisage should begin to move forward in the second half of this year as market conditions in the junior resource sector continue to improve.”

Paul E Burton Managing Director

30 June 2016

Inquiries:

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

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

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Competent Person Statement

The information in this report that relates to Exploration Results for TNG’s Stokes yard and Mount Hardy projects is based on, and fairly represents, information and supporting documentation compiled by Exploration Manager Mr Kim Grey B.Sc. and M. Econ. Geol. Mr Grey is a member of the Australian Institute of Geoscientists, and a full time employee of TNG Limited. Mr Grey 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 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Grey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About TNG

TNG is building a world-scale strategic metals business based on its flagship 100%-owned Mount Peake Vanadium-TitaniumIron Project in the Northern Territory. Located 235km north of Alice Springs, Mount Peake will be a 20-year plus project producing a suite of high-quality, high-purity strategic metals products for global markets including vanadium pentoxide, iron oxide and titanium dioxide. The project, which will be a top-10 global producer, has received Major Project Facilitation status from the NT Government.

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.

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Figure 1. Location of the Stokes Yard Project EL 30131 relative to Alice Springs.

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Figure 2. Stokes Yard Project EL 30131 on published 1:250,000 scale geological map, showing the location of the Stokes Yard Prospect.

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APPENDIX ONE – Stokes Yard Project, NT

JORC TABLE – Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or	No new sampling is reported here.
	specific specialised industry standard measurement tools appropriate to	Work by previous explorers and the
	the minerals under investigation, such as down hole gamma sondes, or	NTGS is public information.
	handheld XRF instruments, etc). These examples should not be taken	NT Open File reports CR19700018 and
	as limiting the broad meaning of sampling.	CR 19720025.
	Include reference to measures taken to ensure sample representivity	NTGS Special Pub 5.
	and the appropriate calibration of any measurement tools or systems	Northern Mining Open File reports for EL
	used.	24438, 2007 to 2013.
	Aspects of the determination of mineralisation that are Material to the	All other data/results are derived from
	Public Report.	company ASX releases (TNG, KGL, ABU)
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air	Not relevant
	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
	standard tube, depth of diamond tails, face-sampling bit or other type,
	whether core is oriented and if so, by what method, etc).
Drill sample recovery	Method of recording and assessing core and chip sample recoveries	Not relevant
	and results assessed.
	Measures taken to maximise sample recovery and ensure
	representative nature of the samples.
	Whether a relationship exists between sample recovery and grade and
	whether sample bias may have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	Whether core and chip samples have been geologically and	Geological assessment is of a regional
	geotechnically logged to a level of detail to support appropriate Mineral	and reconnaissance nature derived from
	Resource estimation, mining studies and metallurgical studies.	various published sources
	Whether logging is qualitative or quantitative in nature. Core (or costean,
	channel, etc) photography.
	The total length and percentage of the relevant intersections logged.
Sub-sampling	If core, whether cut or sawn and whether quarter, half or all core taken.	Not relevant
techniques and sample	If non-core, whether riffled, tube sampled, rotary split, etc and whether
preparation	sampled wet or dry.
	For all sample types, the nature, quality and appropriateness of the
	sample preparation technique.
	Quality control procedures adopted for all sub-sampling stages to
	maximise representivity of samples.
	Measures taken to ensure that the sampling is representative of the in
	situ material collected, including for instance results for field
	duplicate/second-half sampling.
	Whether sample sizes are appropriate to the grain size of the material
	being sampled.
Quality of assay data	The nature, quality and appropriateness of the assaying and laboratory	Not relevant
and laboratory tests	procedures used and whether the technique is considered partial or
	total.
	For geophysical tools, spectrometers, handheld XRF instruments, etc,
	the parameters used in determining the analysis including instrument
	make and model, reading times, calibrations factors applied and their
	derivation, etc.
	Nature of quality control procedures adopted (eg standards, blanks,
	duplicates, external laboratory checks) and whether acceptable levels of
	accuracy (ie lack of bias) and precision have been established.
Verification of sampling	The verification of significant intersections by either independent or	Results from prior companies and the
and assaying	alternative company personnel.	NTGS has not been independently
	The use of twinned holes.	verified
	Documentation of primary data, data entry procedures, data verification,
	data storage (physical and electronic) protocols.
	Discuss any adjustment to assay data.
Locations of data points	Accuracy and quality of surveys used to locate drill holes (collar and	Not relevant
	down-hole surveys), trenches, mine workings and other locations used
	in Mineral Resource estimation.
	Specification of the grid system used.
	Quality and adequacy of topographic control.
Data spacing and	Data spacing for reporting of Exploration Results.	Reconnaissance rock sampling results
distribution	Whether the data spacing and distribution is sufficient to establish the	are insufficient to establish continuity or a
	degree of geological and grade continuity appropriate for the Mineral	resource.
	Resource and Ore Reserve estimation procedure(s) and classifications
	applied.
	Whether sample compositing has been applied.

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Orientation of data in	Whether the orientation of sampling achieves unbiased sampling of	Not relevant
relation to geological	possible structures and the extent to which this is known, considering
structure	the deposit type.
	If the relationship between the drilling orientation and the orientation of
	key mineralised structures is considered to have introduced a sampling
	bias, this should be assessed and reported if material.
Sample security	The measures taken to ensure sample security.	Not relevant
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No sampling audits have been completed
		to date for this project

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and	Type, reference name/number, location and ownership including	The Exploration Licence was granted to
land tenure status	agreements or material issues with third parties such as joint	Imperial Granite and Minerals Pty Ltd on 11
	ventures, partnerships, overriding royalties, native title interests,	August 2014. Transfer of the tenement to
	historical sites, wilderness or national park and environmental	TNG was completed on 15 September 2015.
	settings.	The tenement is in good standing with no
	The security of the tenure held at the time of reporting along with	known impediments to TNG’s future
	any known impediments to obtaining a licence to operate in the	operation.
	area.
Exploration done by	Acknowledgment and appraisal of exploration by other parties.	Prior work acknowledged above and in the
other parties		body of the report
Geology	Deposit type, geological setting and style of mineralisation.	Geological assessment is of a regional nature
		and derived from various published sources –
		see text discussion.
		The mineralisation at Stokes Yard may be
		skarn/calcsilicate related or of some other
		association. There is insufficient data to
		determine for sure.
Drill hole Information	A summary of all information material to the understanding of the	Not relevant. No drilling reported
	exploration results including a tabulation of the following information
	for all Material drill holes:
	o Easting and northing of the drill collar
	o Elevation of RL (Reduced Level – elevation above sea
	level in metres) of the drill collar
	o Dip and azimuth of the hole
	o Down hole length and interception depth
	o Hole length
Data aggregation	In reporting Exploration Results, weighting averaging techniques,	No data aggregation has been applied.
methods	maximum and/or minimum grade truncations (eg cutting of high
	grades) and cut-off grades are usually Material and should be
	stated.
	Where aggregate intercepts incorporate short lengths of high grade
	results and longer lengths of low grade results, the procedure used
	for such aggregation should be stated and some typical examples of
	such aggregations should be shown in detail.
	The assumptions used for any reporting of metal equivalent values
	should be clearly stated.
Relationship between	These relationships are particularly important in the reporting of	Not relevant, no drill data presented
mineralisation widths	Exploration Results.
and intercept lengths	If the geometry of the mineralisation with respect to the drill hole
	angle is known, its nature should be reported.
	If it is not known and only the down hole lengths are reported, there
	should be a clear statement to this effect (eg ‘down hole length, true
	width not known’).
Diagrams	Appropriate maps and sections (with scales) and tabulations of	Not relevant. Refer to Figures 1 and 2 in the
	intercepts should be included for any significant discovery being	body of the report for location information.
	reported These should include, but not be limited to a plan view of
	drill hole collar locations and appropriate sectional views.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not	No new laboratory results are presented.
	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	Exploration Results.
Other substantive	Other exploration data, if meaningful and material, should be	Not relevant
exploration data	reported including (but not limited to): geological observations;
	geophysical survey results; geochemical survey results; bulk
	samples–size and method of treatment; metallurgical test results;

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	bulk density, groundwater, geotechnical and rock characteristics;
	potential deleterious or contaminating substances.
Further work	The nature and scale of planned further work (eg tests for lateral	Geophysics and geochemical sampling
	extensions or depth extensions or large-scale step-out drilling).	programs are planned. Drilling would follow
	Diagrams clearly highlighting the areas of possible extensions,	thereafter.
	including the main geological interpretations and future drilling
	areas, provided this information is not commercially sensitive.

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