TIVAN LIMITED — Capital/Financing Update 2018

Apr 2, 2018

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ASX ANNOUNCEMENT
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3 April 2018

TNG SECURES NEW INSTITUTIONAL INVESTMENT TO ADVANCE DEVELOPMENT OF WORLD-CLASS AUSTRALIAN VANADIUM PROJECT

$3.5m capital raising sees introduction of major Australian institutional funds to the TNG share register as it moves into a pivotal phase of pre-development activity at Mount Peake

Australian strategic metals company TNG Limited (ASX: TNG) is pleased to advise that it has secured the support of a number of leading Australian institutional investors as part of a $3.5 million capital raising to advance the development of its 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.

The Company has received firm commitments in relation to a placement of 24,137,931 shares at a price of $0.145, raising $3.5 million before costs. The placement is being undertaken to Australian institutional funds pursuant to the Company’s 15% placement capacity under ASX Listing Rule 7.1.

Sanlam Private Wealth acted as lead manager to the placement.

The proceeds will further strengthen TNG’s balance sheet as it advances key pre-development activities at Mount Peake including completion of final off-take arrangements, final engineering and design and securing the overall funding package.

TNG’s Managing Director, Mr Paul Burton, said the Company was delighted to welcome several prominent Australian institutions to its register as part of the placement – with their investment reflecting both the high level of investor interest in the vanadium sector and the quality and advanced nature of the Mount Peake Project.

“Vanadium has been one of the strongest performing metals of the past 18 months, with prices recently hitting decade-long highs due to tight global supply,” he said. “At the same time, we have seen growing awareness of the potential for new markets in the battery storage and renewable sectors complementing conventional demand from the steel industry.

“TNG is in the perfect position to take advantage of this opportunity given the scale and quality of the Mount Peake Project – which is the largest and most advanced vanadium development project in Australia – and the fact that we are now moving into the final stages of pre-development.

“The proceeds of this raising will ensure that the Company is in a very strong financial position as we complete the final off-take arrangements, receive our final permits, commence site-based pre-development works and put in place the overall project funding package.”

Settlement of the placement is expected to occur on 9 April 2018.

Paul E Burton Managing Director

3 April 2018

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

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Inquiries:

Paul E Burton Managing Director + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 8 9388 1474

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