TIVAN LIMITED — Regulatory Filings 2012

Jul 30, 2012

ASX ANNOUNCEMENT

31 July 2012

ASX CODE: TNG

REGISTERED OFFICE

TNG Limited Level 1, 282 Rokeby Road Subiaco, Western Australia 6008

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

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

ABN 12 000 817 023

DIRECTORS

Jianrong Xu Chairman Paul Burton MD Neil Biddle Rex Turkington Wang Zhigang

COMPANY SECRETARY Simon Robertson

PROJECTS

Mount Peake: Fe-V-Ti Manbarrum: Zn-Pb-Ag East Rover: Cu-Au McArthur: Cu Mount Hardy Cu-Au

CONTACT DETAILS

Paul Burton | +61 8 9327 0900 Nicholas Read | +61 419 929 046 Simon Robertson | +61 8 9327 0900

WESTERN DESERT RESOURCES COMMENCES DRILLING FOR GOLD AT ROVER JV PROJECT

TNG Limited (ASX: TNG) is pleased to advise that Western Desert Resources Limited (WDR) has announced that drilling is underway on the Rover JV Project near Tennant Creek.

A copy of the announcement made by WDR is attached.

TNG LIMITED

Paul E Burton Managing Director 31 July 2012

Disclaimer

This information is produced by a third party (Third Party Information). It may contain information about the activities of TNG Limited and its subsidiaries (Group) but it does not purport to be a complete description of the Group and/or its various business activities. No representation or warranty, express or implied, is made by any person including TNG Limited or its directors, officers, employees, advisers, agents or affiliates as to the fairness, accuracy, completeness, or correctness of the information, opinions and conclusions contained in this Third Party Information, or as to the reasonableness of any assumptions, forecasts, prospects or returns contained in, or implied by, this Third Party Information or any part of it. TNG Limited assumes no liability and has no obligation to tell recipients if it becomes aware of any inaccuracies in or omissions from Third Party Information.

Except for statutory liability which may not be excluded, no responsibility is accepted by TNG Limited or any of its directors, officers, employees, advisers, agents or affiliates for any loss or damage howsoever occurring (including through negligence) resulting from the access, use or reliance upon any Third Party Information by any person, and any such access, use or reliance is solely at your own risk. You are responsible for forming your own opinions and should seek your own independent professional advice in relation to Third Party Information. In particular, you are cautioned not to place undue reliance on any forward-looking statements, forecasts or views as to prospects in any Third Party Information, as there can be no assurances that actual outcomes will not differ materially from such forward-looking statements.

Enquires:

Paul E Burton
Managing Director	+ 61 (0) 8 9327 0900

Nicholas Read

Read Corporate + 61 (0) 419 929 046

ASX ANNOUNCEMENT 26 July, 2012

Western Desert Resources, a diversified resources business with a portfolio of quality mineral exploration assets in the Northern Territory.

Western Desert Resources' business is built on the exploration of its substantial portfolio of iron ore, gold, base metals and uranium projects in the world-class mining provinces of Australia and will continue to grow through the generation and acquisition of new opportunities and resources.

FAST FACTS

WDR
235m
A\$161M

DIRECTORS

Rick Allert Norm Gardner Mick Ashton Graham Bubner David Cloke Phillip Lockyer Scott Perrin

Chairman MD Director Director Director Director

Director

COMPANY HIGHLIGHTS

Iron Ore

• Roper Bar & Mountain Creek projects (NT)
• · Hematitic iron ore
• Total Inferred, Indicated & Measured Mineral Resource estimates of 402Mt @ 40% Fe including DSO of 32.1Mt @ 56.8% Fe
• Low Impurities
• Mine development underway
• Proximity to coast and markets

Gold / Copper

• East Rover Project near Tennant Creek (NT)

CONTACT DETAILS

Level 1, 26 Greenhill Rd WAYVILLE, SA, 5034 T: +61 8 8177 8800 info@westerndesertresources.com.au

WESTERN DESERT COMMENCES DRILLING FOR GOLD AT TENNANT CREEK

WesternDesert

RESOURCES

Key Points:

• Drilling operations commenced on the historic BIF Hill gold prospect 60 km from Tennant Creek
• Tennant Creek and Rover goldfields host numerous highgrade world class gold-copper deposits.
• New survey data collected by WDR indicates drilling by previous explorers missed ironstone target.

The Directors of Western Desert Resources Limited (ASX: WDR) are pleased to advise that drilling is underway on the Rover JV Project near Tennant Creek. Four diamond drillholes will test the BIF Drilling commenced last week and is Hill gold-copper prospect. expected to be completed in August.

The Rover JV is a joint venture between WDR and Tennant Creek Gold Pty Ltd, a subsidiary of TNG Ltd (ASX:TNG). It comprises two granted exploration licences and two applications in the Tennant Creek area. Subsequent to the formation of the JV in 2008, WDR has earned an 80% interest in the project. Under the terms of the JV, TNG's 20% interest is free carried until the successful completion of a Bankable Feasibility Study.

Figure 1. Rover JV project location map.

Gold was discovered in Tennant Creek in the 1930's. Since production commenced, over 170 tonnes of gold has been produced from an area of 4,000 square kilometres constituting the Tennant Creek Goldfield. It is Australia's largest Proterozoic-aged gold province and has produced several world class orebodies, including Warrego, Juno and White Devil. The known orebodies, carrying up to 46 tonnes of contained gold, are hosted by ironstones. Primary ironstone bodies are usually magnetic and those buried at depth were discovered by drilling magnetic anomalies. The gold is often associated with bismuth and copper. To illustrate the target being sought at BIF Hill, Table 1 shows production figures of eight ironstones that were mined in the Tennant Creek Goldfield.

Orebody	Contained Gold (tonnes)	Ore (tonnes)	Grade (g/t gold)
Warrego	46.0	7,000,000	6.6
Nobles Nob	39.0	2,000,000	19.5
White Devil	31.1	1,500,000	20
Peko	12.9	3,700,000	3.5
Orlando	6.0	680,000	8.8
Juno	25.3	450,000	56.1
Explorer	3.5	184,000	19
Eldorado	3.3	146,000	227

	Table 1. Production figures of selected Tennant Creek gold deposits.
--	----------------------------------------------------------------------	--	--	--	--

The Rover field parallels the Tennant Creek field and hosts gold and copper bearing ironstones under cover; refer Figure 2. Deposits have been discovered here by Westgold Resources Limited (Rover 1) and Adelaide Resources Limited (Rover 4). The Rover 1 deposit contains over 1.2 million ozs of gold equivalent.

Figure 2. Rover JV Project and BIF Hill prospect location plan.

The BIF Hill prospect comprises an isolated outcrop of Banded Iron Formation (BIF) and sediments. In 1973 Peko and Australian Development Limited (ADL) drilled three relatively shallow diamond holes to a maximum vertical depth of 120 metres. Drillhole locations are plotted in Figure 3. Gold intersections reported from two of these holes are summarized in Table 2.

Drillhole	Total length	Downhole depth from	Downhole depth to	Interval	Au g/t
DDH426	113	75.0	76.2	1.2	0.60
DDH428	128	3.0	18.2	15.2	1.00
DDH428	128	64.6	65.8	1.2	2.80
SHDH95	73	6.1	15.2	9.1	0.31

Table 2. Summary of gold intersections reported from historical drilling at BIF Hill.

The prospect was briefly explored in the 1980's. No further work has been carried out at BIF Hill for the past 25 years. In respect of the intensity of exploration in the Tennant Creek and Rover fields since that time, the presence of gold at shallow depths and the 1.2 metre intersection @ 2.8 gram/tonne makes BIF Hill a highly prospective target.

In 2011 WDR completed a ground gravity survey at BIF Hill; refer Figure 3. Gravity surveys over known gold-copper deposits display a positive response. The historical drilling at BIF Hill focused on the outcrop area, whereas the new data suggests the main ironstone target is located at depth to the northeast.

Figure 3. BIF Hill prospect showing historical and current drillholes on gravity image.

WesternDesert RESOURCES

WDR has planned two deep diamond holes, to a vertical depth of 300 metres, to test for The gravity survey also identified a feature interpreted to mineralization in the ironstone. represent another ironstone under cover to the north. Two diamond holes to a vertical depth of 360 metres are planned to investigate this anomaly.

The current drilling represents the first phase of a substantial drilling program on EL's 24471 and EL25581 as follow-up of detailed ground and airborne geophysical surveys.

Western Desert Resources Managing Director Norm Gardner said "Western Desert has retained an interest in the world class Tennant Creek area since company formation in 2007. Whilst the company focuses on development of the iron ore deposits at Roper Bar, the Rover field is one of a small number of other projects that provide exposure to commodities such as copper-gold, lead-zinc and rare earths. Some of the Tennant Creek prospects have not been investigated since the initial thrust of exploration in the area the 1970's, and BIF Hill represents an excellent opportunity for a new-age discovery".

For further information please contact:

Norm Gardner

Managing Director Western Desert Resources Telephone: +61 8 8177 8800

Background

The Rover JV is Western Desert's priority tenement group for gold-copper-bismuth exploration. Exploration work has included ground and airborne geophysics, and drilling.

The company's flagship project is development of the Roper Bar iron ore deposits, which is due to commence production in mid-2013.

DEPOSIT AREA	Classification	Mt	Fe $%$	$SiO2$ %	$P\%$	$Al_2O_3%$	LOI $%$	Published
Area D	Inferred	90.7	37.2	31.5	0.008	3.2	9.6	$Oct-09$
Area D (north)	Inferred	116.5	40.3	26.3	0.002	2.2	11.0	Feb-11
Area E (south)	Inferred	17.5	36.1	30.8	0.003	2.4	12.4	$Jun-12$
Area E (south)	Indicated	75.8	38.7	29.9	0.005	2.6	9.9	$Jun-12$
Area E (east)**	Inferred	27.6	41.0	26.3	0.004	1.8	10.2	$Jun-12$
Area E (east)**	Indicated	15.6	41.2	26.3	0.004	1.9	10.0	$Jun-12$
Area E (east)**	Measured	28.3	42.2	26.4	0.004	2.0	8.9	Jun-12
Area F *	Inferred	5.5	46.6	22.7	0.006	2.7	6.1	Feb-12
Area F*	Indicated	24.6	49.3	22.0	0.006	3.2	2.6	Feb-12
ITOTAL		402	40.0	28.0	0.005	2.5	9.7

JORC Mineral Resource Estimates from WDR's Roper Bar Project (30% Fe cut-off)

* Includes DSO grade of 15.5Mt @ 59.5% Fe, 9.6% SiO₂, 2.2% Al₂O₃, 0.01% P and 2.1% LOI

** Includes DSO grade of 16.6Mt @ 54.2% Fe, 15.9% SiO₂, 1.2% Al₂O₃, 0.01% P and 4.0% LOI

Competent Person's Statements

The information in this report that relates to Mineral Resources is based on information compiled by Sharron Sylvester who is a full-time employee of AMC Consultants Pty Ltd and a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC code). Sharron Sylvester consents to the inclusion of this information in the form and context in which they occur.