TIVAN LIMITED — Capital/Financing Update 2019

Sep 12, 2019

13 September 2019

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ASX ANNOUNCEMENT
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UPDATE ON MOUNT PEAKE IRON ORE OFF-TAKE

Australian strategic metals company TNG Limited (ASX: TNG) (“TNG” or the “Company”) provides the following update on the iron ore off-take for its flagship 100% owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory, Australia.

TNG executed a binding term sheet (“BTS”) with commodities trader Gunvor (Singapore) in 2016 (see ASX announcement dated 23 March 2016) for a minimum of 60% of the iron products to be produced by the project.

Under the BTS, certain of the contemplated conditions precedent have not been satisfied and no formal off-take agreement has been reached with Gunvor (Singapore). TNG has therefore advised Gunvor (Singapore) that the term sheet is no longer in force.

The Company will now progress discussions with other potential off-take partners that are interested in 100% of its planned iron oxide production and will update the market on these discussions in due course.

The Company confirms that there is significant interest from prospective customers in its planned production of high-grade iron oxide.

As outlined in recent ASX releases, TNG anticipates producing approximately 500,000tpa of high-grade iron oxide product grading over 64% Fe with low impurities, which is expected to command a premium to the 62% Fe benchmark price (see ASX releases of 19 August 2019 and 11 September 2019).

TNG looks forward to concluding a suitable long-term iron ore off-take agreement that will complement its existing binding off-take agreements for vanadium pentoxide (with Korea’s WOOJIN) and titanium dioxide pigment (with leading Market Expansion Services Provider DKSH).

Paul E Burton Managing Director & CEO

13 September 2019

Inquiries:

Paul E Burton Managing Director & CEO + 61 (0) 8 9327 0900 Paula Raffo Investor Relations +61 (0) 8 9327 0900 Jason Giltay Company Secretary + 61 (0) 8 9327 0900

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