TIVAN LIMITED — Capital/Financing Update 2024

Dec 16, 2024

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17 December 2024

Tivan secures final approvals to commence works at Aileron

• Tivan has secured its second Mineral Exploration Deed with Central Land Council (“CLC”), on behalf of Traditional Owners and Native Title Holders, at Aileron (EL33099), a western tenement of the Sandover Project (“Sandover”).

• Tivan has also secured a Sacred Site Clearance Certificate from the CLC that covers proposed works at Aileron, in keeping with the Company’s commitment to best practices in respect of cultural heritage.

• Together, these documents provide Tivan with approval from the Traditional Owners and Native Title Holders to commence ground disturbing works at Aileron, where high-grade lead and silver mineralisation was discovered earlier this year.

• Tivan and EARTH AI are targeting commencement in January, inclusive of a drilling campaign and geophysical program co-funded by the NT Government, reflecting current weather conditions and pastoral activities that have been scheduled at Aileron Station into year end.

• Tivan has this week commenced field works at the recently acquired Sandover Fluorite Project.

The Board of Tivan Limited (ASX: TVN) (“Tivan” or the “Company”) is pleased to advise that the Company has finalised a Mineral Exploration Deed (“Deed”) for Exploration Licence EL33099 (“Aileron”) at the Sandover Project (the “Project”) in the Northern Territory. The Deed is the second signed for the Project with the Central Land Council (“CLC”), the statutory body established under the Aboriginal Land Rights (Northern Territory) Act 1976, which is, pursuant to the Native Title Act 1993 , the representative body of Traditional Owners and Native Title Holders of Central Australia (see ASX announcement of 21 November 2024).

The Sandover Project is located 100km north of Alice Springs and covers an area of approximately 8,000km[2] across two contiguous blocks of tenements in the Northern Arunta Pegmatite Province. The Project comprises 14 tenements, including 10 granted Exploration Licences. In March, the Sandover Project was upgraded to a strategic priority at Tivan (see ASX announcement of 27 March 2024). Tivan recently announced the acquisition of the Sandover Fluorite Project, located 8km east of the Sandover Project (see ASX announcement of 21 November 2024).

The Deed sets out how Tivan will conduct exploration activities at Aileron in a manner that recognises the rights and interests of Native Title Holders, including in respect of cultural heritage and sacred sites. The Deed also provides for employment, training and business opportunities for Native Title Holders in connection with Aileron and provides a mechanism for economic participation for Native Title Holders during the exploration phase defined as a percentage of exploration activity expenditure.

In parallel, the CLC has provided Tivan with a Sacred Site Clearance Certificate that covers proposed works at Aileron. Tivan views the CLC’s certification process of sacred sites as foundational to the CLC’s mission and is pleased to have secured this important certificate.

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Figure 1: Sandover Project: location map, with Sandover Fluorite Project shown as Transaction Tenement

Background

Tivan announced earlier this year that it had discovered a new high-grade lead target at Aileron following completion of a surface sampling program by EARTH AI, with initial assay results confirming lead mineralisation of up to 12.2% Pb, and follow-up rock samples depicting a mineralised zone with grades up to 23.8% Pb (see ASX announcements of 4 March 2024, 23 April 2024 and 5 July 2024). In addition, Tivan announced a new high-grade silver target had also been discovered at Aileron from rock sampling results with assays of up to 469 g/t Ag, located approximately 250m south of the high-grade lead target and highlighting the potential for a polymetallic mineral deposit in the area (see ASX announcements of 16 April and 23 April 2024).

Project Milestone

The execution of the Deed is an important milestone for the Sandover Project. This follows Tivan recently securing regulatory approval for ground disturbing exploration activities from the NT Government at the Sandover Project, including EL33099 (Aileron) and EL33105 (Dneiper) (see ASX announcement of 3 October 2024).

The Deed is consistent with Tivan’s firmwide policy of the early inclusion of Traditional Owners and Native Title Holders and the Company’s commitment to achieving best practices on country and in respect of cultural heritage.

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Commencement of Works at Sandover

As discussed by Executive Chairman, Mr Grant Wilson, at the Company’s recent Annual General Meeting, Tivan’s near term priorities in central Australia are to advance the Sandover Fluorite Project and commence the exploration drilling program at Aileron.

Tivan’s geology team has this week commenced a two-day program of rock and soil samples collection at the Sandover Fluorite Project, with the support of Jervois Station, the relevant pastoral lease holders. Assay results from this field work are expected to be available in early January.

With regulatory and cultural heritage approvals in place at Aileron, Tivan has commenced mobilisation planning with its Exploration Alliance partner, EARTH AI. Owing to the onset of wet weather in central Australia and previously scheduled cattle mustering near the Mount Byrne site at Aileron Station, the commencement of works is now scheduled for January.

Tivan will advise shareholders via the ASX when ground-disturbing works at Aileron commence.

Comment from Tivan Executive Chairman

Mr Grant Wilson commented:

“Tivan is very pleased to have secured final approvals at Aileron from the Central Land Council, on behalf of the Traditional Owners and Native Title Holders. This is a very important achievement for Tivan, capping a year of material progress at Sandover.

We have two exciting pathways ahead now in central Australia and we are looking forward to the next phase of resource definition, in support of project development. We will keep shareholders advised on the eagerly awaited commencement of ground-disturbing works at Aileron in January”.

This announcement has been approved by the Board of the Company.

Inquiries:

Nicholas Ong

Company Secretary: + 61 8 9486 4036 Email: nicholas.ong@tivan.com.au

Elena Madden

True North Strategic Communication (Darwin): + 61 8 8981 6445 Email: elena@truenorthcomm.com.au Ends

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Competent Person’s Statement

Tivan’s exploration activities in the Northern Territory are being overseen by Mr Stephen Walsh (BSc). The information that relates to exploration results in this announcement is based on and fairly represents information and supporting documentation prepared and compiled by Mr Walsh, a Competent Person, who is the Chief Geologist and an employee of Tivan, and a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Walsh has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results. Mr Walsh consents to the inclusion in this announcement of the matters based on information compiled by him in the form and context which it appears.

The information in this announcement that relates to exploration results for the Sandover Project (Aileron) has been extracted from the Company’s previous ASX announcements entitled "High-Grade Lead Identified at Tivan's Sandover Project" dated 4 March 2024, "High Grade Silver Discovered at Tivan's Sandover Project" dated 16 April 2024,“LeadSilver Mineralisation Extended at Sandover Project” dated 23 April 2024 and “Tivan and EARTH AI ready drill program at Sandover” dated 5 July 2024. Copies of these announcements are available at www.asx.com.au or www.tivan.com.au/investors/asx-announcements/. The Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements. Tivan confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from those announcements.

Forward looking statement

This announcement contains certain “forward-looking statements” and comments about future matters. Forwardlooking statements can generally be identified by the use of forward-looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “estimate”, “target”, “outlook”, and other similar expressions and include, but are not limited to, the timing, outcome and effects of the future studies, project development and other work. Indications of, and guidance or outlook on, future earnings, financial position, performance of the Company or global markets for relevant commodities are also forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements. Any such statements, opinions and estimates in this announcement speak only as of the date hereof, are preliminary views and are based on assumptions and contingencies subject to change without notice. Forward-looking statements are provided as a general guide only. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. Any such forward looking statement also inherently involves known and unknown risks, uncertainties and other factors and may involve significant elements of subjective judgement and assumptions that may cause actual results, performance and achievements to differ. Except as required by law the Company undertakes no obligation to finalise, check, supplement, revise or update forward-looking statements in the future, regardless of whether new information, future events or results or other factors affect the information contained in this announcement.

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