TIVAN LIMITED — Capital/Financing Update 2024

Dec 1, 2024

==> picture [596 x 125] intentionally omitted <==

2 December 2024

Tivan makes final payment on Speewah

The Board of Tivan Limited (ASX: TVN) (“Tivan” or the “Company”) is pleased to provide an update on the Company’s acquisition of the Speewah Project.

Payment to King River Resources

Tivan acquired the Speewah Project from King River Resources (“KRR”) in Q1 2023 (see ASX announcement of 20 February 2023). The acquisition included all mining, exploration and miscellaneous titles that comprise the Speewah Fluorite Project and the Speewah Vanadium Titanomagnetite Project. In consideration, Tivan agreed to pay KRR the amount of $20 million, comprised of $10 million in cash and $10 million equivalent of shares in Tivan (being 100,000,000 shares which were issued on 11 April 2023).

As at 8 July 2024, Tivan had made payments of $7.6 million to KRR in respect of the cash consideration. Tivan has today made a further payment of $2.4 million to KRR. All cash consideration owed by Tivan to KRR has now been paid, ahead of the payment due date of 17 February 2025.

Comment from Tivan Executive Chairman

Mr Grant Wilson commented:

“The acquisition of Speewah was a transformative event for Tivan, providing us with the foundation to build a company of strategic importance across northern Australia. We are pleased to have fully paid down the cash consideration today. This strengthens Tivan's balance sheet and supports our proposed joint venture for the Speewah Fluorite Project with Sumitomo Corporation.”.

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

Ends

==> picture [596 x 69] intentionally omitted <==