TIVAN LIMITED — Capital/Financing Update 2018

Nov 20, 2018

21 November 2018

==> picture [592 x 30] intentionally omitted <==

----- Start of picture text -----

ASX ANNOUNCEMENT
----- End of picture text -----

==> picture [187 x 44] intentionally omitted <==

MOUNT PEAKE MINERAL LEASES GRANTED

Grant of all Mineral Leases for world-class strategic metals project provides security of tenure, paving the way for TNG to progress project funding

Key Points

• The four Mineral Leases covering the Mount Peake development site have now been granted by the Northern Territory Minister for Primary Industry and Resources.

• This follows the recent execution of the Mount Peake Project Indigenous Land Use Agreement (Area Agreement) with the Central Land Council and Eynewantheyne Aboriginal Corporation RNTBC and the related Tripartite Deed with the Northern Territory of Australia.

• Security of tenure will assist with project financing.

Australian strategic metals company TNG Limited (ASX: TNG) is pleased to announce that the Mineral Leases covering the mine site and associated infrastructure at its flagship 100%-owned Mount Peake Vanadium-TitaniumIron Project in the Northern Territory have now been granted.

This represents a major milestone in the approval and development process for this significant mining and processing operation. The grant of all required leases provides TNG with security of tenure, allowing it to proceed with the overall financing package required to underpin the Project’s development.

The grant of the Mineral Leases follows:

• Lodgement of the Mineral Lease boundary surveying plans and documentation, having been approved by the Northern Territory Surveyor General and submitted to the Department of Primary Industry and Resources, Mines Department, Mineral Titles Branch; and

• The execution of the Mount Peake Project Indigenous Land Use Agreement (Area Agreement) ( Mount Peake Project ILUA ) with the Central Land Council and Eynewantheyne Aboriginal Corporation RNTBC and the related Tripartite Deed with the Northern Territory of Australia.

The Mount Peake Project ILUA was announced following an on-site meeting with the Traditional Owners ( see ASX Announcement – 1 August 2018 ).

The four Mineral Lease tenements cover the proposed open pit mine, the associated mine and plant infrastructure, the camp site, and the rail loading facility area, as outlined in the below table and shown on Figures 1 and 2. Figure 3 shows the mine area approved tenement survey plan.

ML	LOCATION
28341	Mine Pit
29855	Mine Infrastructure
29856	CampSite
30686	Rail Siding

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 Suite 20, 22 Railway Road F +61 8 9327 0901 Subiaco, Western Australia 6008

==> picture [450 x 19] intentionally omitted <==

==> picture [83 x 20] intentionally omitted <==

The grant of the Mount Peake Mineral Leases follows the receipt of environmental approvals from both the Northern Territory ( see ASX Announcement – 25 January 2018 ) and Federal Governments ( see ASX Announcement – 15 May 2018 ) earlier this year.

Management Comment

TNG’s Managing Director, Mr Paul Burton, said the granting of the Mount Peake Mineral Leases provided security of tenure for the Company, a key requirement to progress discussions with potential project financiers.

“We are rapidly ticking off the boxes towards the Mount Peake development, with key announcements over the past few months including the signing of a Native Title Agreement, the signing of a binding term sheet for titanium off-take with Swiss commodity trader DKSH and now the formal award of the Mount Peake Mineral Leases by the NT Government.

“With these important milestones now complete, we will be squarely focused on moving ahead with project financing negotiations,” he said.

Paul E Burton Managing Director

21 November 2018

Inquiries:

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.

2

==> picture [450 x 19] intentionally omitted <==

==> picture [83 x 20] intentionally omitted <==

==> picture [469 x 254] intentionally omitted <==

Figure 1. Mount Peake location plan in the Northern Territory.

==> picture [521 x 369] intentionally omitted <==

Figure 2. Mount Peake mining tenement locations.

3

==> picture [450 x 19] intentionally omitted <==

==> picture [83 x 20] intentionally omitted <==

==> picture [484 x 690] intentionally omitted <==

Figure 3. Mount Peake mine area (ML 28341 and ML29855) survey plan.

4