TIVAN LIMITED — Investor Presentation 2011

Jul 10, 2011

Presentation July 2011 ASX Code: TNG

Disclaimer

Forward-Looking Statements

This presentation has been prepared by TNG Ltd. This document contains background information about TNG Ltd current at the date of this presentation. The presentation 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 in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of TNG Ltd shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction.

This presentation 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 presentation 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 Ltd, 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 presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation 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 Ltd. Actual values, results or events may be materially different to those expressed or implied in this presentation.

Competent Person’s Statement

The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Paul Burton who is a Member of The Australasian Institute of Mining and Metallurgy and a Director of TNG Limited. Paul Burton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Paul Burton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources is based on information compiled by Michael Andrew who is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of Snowden Mining Industry Consultants Pty Ltd. Michael Andrew has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Michael Andrew consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Financial and Mining analysis is based on information compiled by Jeremy Peters who is a Member of The Australasian Institute of Mining and Metallurgy and a full time employee of Snowden Mining Industry Consultants Pty Ltd. Jeremy Peters has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Jeremy Peters consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Our Vision

Developing the Mount Peake Vanadium-Titanium-Iron Project in the Northern Territory, one of Australia’s largest iron-vanadium projects….

as the foundation for a potentially . world-class, vertically integrated ferrous metals business

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Location & Infrastructure

• Project advantageously located close to local infrastructure in the Northern Territory

• Darwin to Alice Gas Pipeline

• Stuart Highway

• Adelaide to Darwin Railway

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Vanadium-Titanium-Iron

• JORC inferred resource: 140Mt @ 0.3% V205, 5% Ti02, 24% Fe

• :

• Exploration Target[1]

500 – 700Mt (0.2% - 0.4% V205, 5%-9% TiO2, 25% - 35% Fe)

• Commercial grade concentrate produced by coarse crush and LIMS

• Concentrate upgrading: >1.2% V205, 18% Ti02, 55% Fe

• Vertically integrated development capability with the ability to recover all three commodities at commercial grades

• ¹ The potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resources

Why Vanadium?

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• Primary use in steel production, batteries and motor vehicles

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• Demand for Vanadium forecast to significantly increase with hi- technology advances including (battery cells), and steel production.

• Vanadium prices on the rise…

• V 0 2 5 - US$8 / llb and Ferro-vanadium – US$30 / lb

….and set to increase further

Mount Peake Magnetic Ridge

• 9km in strike

• 1.3km drilled to date

• Clearly defined feeder zones

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Mount Peake Mineral Licence Pit outline

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Breakthrough Technology – TIVAN[TM] Process

• Hydrometallurgy - successfully extract vanadium, titanium and iron from titanomagnetite ores.

• Joint International patent application lodged to protect revolutionary process developed jointly by TNG and METS

• The combined process of acid leaching and solvent extraction enables +90% recovery of V2O5, Fe, TiO2

• Cheaper OPEX and CAPEX compared to conventional pyrometallurgical process

• Successful trials conducted on other titanomagnetite vanadium deposits

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TIVAN[TM]

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2011 Scoping Study

• Independent Study by Snowden Mining Industry Consultants

• Production 2Mtpa and ramping up after three years to 5Mtpa

• Total Resource140Mt, 24 year Mine Life

• Concentrate Grade: >1.2% V205, 18% Ti02, 55% Fe

• Initial plant total CAPEX estimated at $370M with a +-35% accuracy

• Concentrate to be trucked to railway line (70km) and then railed to Darwin for shipping

• Potential to produce ferro-vanadium (FeV) as a value-added downstream

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2011 Scoping Study – Key Findings

Mine Life: 24 years

Processing rate (life-of-mine):

5 Mt /annum

Life-of-mine production:

107.1 million tonnes

Process head grade:

Total metal roduction: p

0.33% V2O5, 25.39% Fe, 6.04% TiO2 349kt V2O5, 27,182kt Fe, 6,463kt TiO2

Total operating costs (excluding royalties): $46.6/tonne

Preliminary capital estimate: $370.3M (for Stage 1 – 2Mtpa) Se $307.6M (for Stage 2 – 5Mtpa) Nett Cash Flow[2] $148.37M / annum

Key assumptions of the Scoping Study included:

Operating costs and pit slope angles related to mining estimated to a Scoping Study level (±50%) Commodity pricing based on a previous 4 year average V2O5 price of US$8.00/lb

TiO2 price of US$155.60/tonne

Fe2O3 price of US$200/tonne Royalty rate of 2.5% per tonne of plant feed A$/US$ exchange rate of 0.85 US$ = 1A$

2Nett Cashflow is defined as the average undiscounted cashflow per annum after all CAPEX (pre-strip CAPEX, initial CAPEX, and expansion CAPEX has been deducted), but ignores cost or source of capital, hedging, tax, depreciation, rehabilitation and salvage.

FeV Production - a value add product:

Mine Life: 24 years Processing rate (life-of-mine): 2 Mt/annum Total FeV metal production: 105,000 tonnes Total operating costs (excluding royalties): $5.36/tonne : Primary Capital Estimate[3] $43.8M (for Stage 1-2Mtpa) Nett Cash Flow[4] : $78M/annum New Total Nett Cashflow[4] : $226M/annum

Key assumptions of the Scoping Study included:

3 FeV plant capacity capital cost estimate supplied by Snowden and METS includes both direct and Indirect costs (at a Scoping Level Study of ±35%).

4 Nett Cashflow is defined as the average undiscounted cashflow per annum after all CAPEX (pre-strip CAPEX, initial CAPEX, and expansion CAPEX has been deducted), but ignores cost or source of capital, hedging, tax, depreciation, rehabilitation and salvage.

Quality & Quantity

Australian Vanadium Deposits (Relative size in contained V2O5)

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65 140 177 502 Speewah
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Reed Resources Barrambie
Atlantic Windimurra TNG
Aurox Balla Balla Expl Target
TNG
Mt Peake Speewah
in Magnetite Concentrate
5
O
2
Tenor (% V
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Million Tonnes

¹ The potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resources

Corporate Comparison

Company Market Capitalisation (m) comparison

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ET = Exploration Target
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Reed Resources
Atlantic
Speewah
40
ET 500-700mt
TNG
15
Market Capital (Sm)
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Jorc resources
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Moving Forward

• Appointment of Key Consultants:

• SKM – Lead Pre-Feasibility Study

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• SNOWDEN MINING CONSULTANTS – Mine Plan and Financial Analysis

• METS – Metallurgical, Pilot plant design, Process engineering

The Next 12 Months…

• •Complete PILOT PLANT studies

• •Complete PRE-FEASIBILITY Study

  • Strategic Partner to develop project

PLUS:

• •Advance and Drill Copper targets

Mount Peake Pre-Feasibility Study Preliminary Development Schedule

TNG Limited Mt Peake Preliminary Development Schedule	TNG Limited Mt Peake Preliminary Development Schedule	TNG Limited Mt Peake Preliminary Development Schedule	TNG Limited Mt Peake Preliminary Development Schedule	TNG Limited Mt Peake Preliminary Development Schedule
Task	J F M A M J J A S O N D 2011	J F M A M J J A S O N D 2012	J F M A M J J A S O N D 2013	J F M A M J J A S O N D 2014
Resource Drilling & Sampling Process Trials Undertake PFS Study Value Improvement Studies Feasibility Study Early Engineering and Design Early Procurement Activities Project Financing Execution Handover

Board and Management

Managing Director - Paul Burton

• With over 20 years experience in exploration and mining throughout Australia and overseas, Mr Burton has managed successful mineral exploration and feasibility study programs for a range of different commodities including base-metals, precious-metals, diamonds and ferrous metals.

Non–Executive Director - Neil Biddle

• A geologist with over 25 years experience in precious metal, base metal and iron ore exploration throughout Australia and overseas, as well as in the establishment, development and management of listed mining and exploration companies.

Non–Executive Director – Mr Stuart Crow

• Mr Crow has more than 25 years experience in all aspects of corporate finance and investor relations in Australia and international markets, and has owned and operated his own businesses in these areas for the last twelve years. He brings extensive working knowledge of capital markets to the Board.

Corporate Summary

285m

Shares on Issue Cash Investments $4.51m Receivables Major Shareholders Mr & Mrs Brown 8.21% CBH 4.98% Colbern Fiduciary Nominees 3.25% ASX Code: TNG

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Top 20 Shareholders hold 35.9% of Issued Capital

Other TNG Projects and Tenements in NT & WA

• Manbarrum (Zn-Pb-Ag)

• McArthur Project (Cu)

• Rover (Cu-Au)

• Petermans (Au-Cu-U)

• Mount Peake (Fe-V-Ti)

• Goddards (Cu)

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