TIVAN LIMITED — Capital/Financing Update 2022

Aug 15, 2022

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ASX ANNOUNCEMENT
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16 August 2022

TNG ACQUIRES STRATEGIC LITHIUM EXPLORATION TENURE NEAR ITS FLAGSHIP MOUNT PEAKE PROJECT

Acquisition of large strategic exploration portfolio covering the Northern Arunta Pegmatite Province includes numerous highly prospective lithium targets

Key Points

• TNG has acquired a large tenement area, referred to as the “Sandover Lithium Project”, located 50km south-east of its flagship Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory.

• The Sandover Lithium Project, which forms part of the Northern Arunta Pegmatite Province, is considered highly prospective for lithium-bearing pegmatites.

• The Sandover Lithium Project represents a potentially strategic growth opportunity that would complement the Company’s long-term critical minerals growth strategy.

• Several companies are currently exploring the northern Arunta Pegmatite Province for lithium-bearing pegmatite’s, including Askari Metals (ASX:AS2), Eastern Metals (ASX:EMS) and Core Lithium (ASX:CXO).

• The acquisition is consistent with TNG’s growth strategy in battery-related and future-facing strategic metals, complementing the planned development of the Mount Peake Project.

Australian resource company TNG Limited (ASX: TNG) (“TNG” or the “Company”) is pleased to advise it has further strengthened its growth pipeline in battery-related and future-facing strategic minerals after securing an extensive new lithium exploration package, the Sandover Lithium Project , located near its 100%-owned Mount Peake Vanadium-Titanium-Iron Project (“Mount Peake Project”) in the Northern Territory.

The Company has secured two large exploration tenement packages, collectively known as the “Sandover Licences” (Figure 1), which cover areas considered highly prospective for lithium in pegmatites, just 50km south-east of the Mount Peake Project.

The Sandover licences cover a total area of 8,151km[2] and comprise two contiguous blocks. The western block is comprised of Exploration Licence Applications (“ELA”) 33090 and 33094 through 33100, with the eastern block comprising ELAs 33102 through 33106 (Table 1).

The Sandover Lithium Project has been acquired from private Northern Territory-based prospectors on acquisition terms of $25,000 per granted licence, with the consideration paid on transfer. TNG has been completing due diligence on the licences since February 2022.

The Sandover Lithium Project ground is considered to have high potential to host lithium-bearing pegmatites, as seen elsewhere in the Northern Arunta Pegmatite Province.

Management Comment:

TNG Managing Director & CEO, Paul Burton, said: “We are very pleased to have secured this highly prospective area for shareholders, which represents an exciting and logical addition to our flagship Mount Peake deposit. The area represents, in all likelihood, one of the last areas that is prospective for lithium in the Northern Territory.

“While we remain fully focused on developing the Mount Peake Vanadium-Titanium-Iron Project, we want to continue to build up our growth portfolio in battery-related and future strategic metals. The global energy transformation and the move to Electric Vehicles will see a structural increase in the consumption of metals such as lithium and vanadium. We want to be positioned to take advantage of this surge in demand for both elements.”

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

ASX CODE: TNG ABN 12 000 817 023

REGISTERED OFFICE Suite 20, 22 Railway Road Subiaco, Western Australia 6008

T +61 8 9327 0900 F +61 8 9327 0901

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The Anningie and Barrow Creek pegmatite fields (Figure 2), located just to the north of the western block of Sandover licences, were first recognised in the mid-1930’s. Small-scale cassiterite and tantalite concentrate production mostly from alluvial/colluvial material, with minor pegmatite mine production, continued through into the 1970’s (NTGS Report #16, K Frater 2005).

While some tin and tantalum exploration was conducted in the period from 1980 to 2000, it was not until the “lithium boom” year of 2016 that any effort had been put in to identifying lithium-bearing pegmatites.

Several companies are currently exploring the northern Arunta Pegmatite Province for lithium-bearing pegmatites, including Askari Metals (ASX:AS2), Eastern Metals (ASX:EMS) and Core Lithium (ASX:CXO).

TNG intends to explore for lithium-bearing pegmatites using traditional rock chip and soil sampling methods in areas with outcrop or residual soils. This will be augmented with state-of-the-art remote sensing exploration techniques in order to rapidly locate pegmatite’s at surface and beneath thin sand cover.

TNG has engaged the services of Dr Mike Hussey, a world expert on spectral data interpretation and modelling, to commence with a spectral and National Oceanic and Atmospheric Administration ( NOAA) imagery interpretation utilising “finger-printing” of known exposed lithium bearing pegmatites. Initial results are highly encouraging subject to field checking. As a result, TNG has extended its area of interest south and east of the predicted zone of pegmatites (Figure 2).

The land area is also considered highly prospective for both sediment-hosted copper and Iron Oxide Copper Gold (“IOCG”) deposits, following recent work by the Northern Territory Geological Survey (“NTGS”). The northern portions of this tenure area cover the margins of Georgina Basin, which is considered prospective for sedimenthosted copper, of the Zambian Copper Belt type. The basal Neoproterozoic Georgina sediments overly a wide area of Aileron province Paleoproterozoic basement in the Sandover area. This basement type with deep crustal features are a target for metallogenic provinces as seen in the Gawler Craton, South Australia.

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Figure 1: Location of the Sandover Lithium Project tenement package

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Figure 2: Sandover Lithium Project tenements in relation to the northern Arunta Pegmatite Province

Tenement	Blocks	Area(km2)
EL33090	100	312
EL33094	245	754
EL33095	250	736
EL33096	250	793
EL33097	250	763
EL33098	250	770
EL33099	250	783
EL33100	113	357
EL33102	195	613
EL33103	72	228
EL33104	250	791
EL33105	250	788
EL33106	147	463
TOTAL	2,622	8,151km2
Table 1: Tenements comprising the Sandover Lithium Project

Next Steps

The Company has identified several lithium targets from remote sensing coupled with existing geophysics which have require follow up by surface rock and soil sampling. This is planned to commence during the upcoming Northern Territory Government Co-Funded drilling programme at Mount Peake (see ASX announcement 26 July 2022).

Authorised by the TNG Board of Directors:

16 August 2022

Paul E Burton Managing Director & CEO

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Inquiries:

Paul E Burton Managing Director & CEO + 61 (0) 8 9327 0900 Paula Raffo Company Secretary & IR + 61 (0) 8 9327 0900 Nicholas Read Read Corporate + 61 (0) 8 9388 1474

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About TNG

TNG is a mineral resource and processing technology company focussing on building a world-scale strategic metals business based on its flagship 100%-owned Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory. Located 235km north of Alice Springs, Mount Peake will be a long-life project producing a suite of high-quality, high-purity strategic products for global markets including vanadium pentoxide, titanium dioxide pigment and iron ore fines. The project, which is expected to be a top-10 global producer, has received Major Project Status from the Australian Federal Government and the Northern Territory Government.

TNG is also advancing a green energy strategy with the dual objective of offsetting carbon emissions from its planned future operations and generating new business opportunities in the alternative energy market to create additional shareholder value, with a focus on green hydrogen and vanadium redox flow batteries.

Forward-Looking Statements

This announcement has been prepared by TNG Limited. 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 announcement 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 Limited shares in any jurisdiction. This announcement 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 announcement 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 Limited, 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 announcement 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 Limited. Actual values, results or events may be materially different to those expressed or implied.

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