Tivan Advances Molyhil Project Following Acquisition Completion

About Tivan Limited

Tivan Limited (ASX: TVN) is an Australia-focused critical minerals developer targeting commodities essential to modern industrial, defence and clean-energy supply chains. The company’s asset portfolio is concentrated in the Northern Territory and includes the Sandover Fluorite Project and the newly acquired Molyhil Tungsten–Molybdenum Project. Together, these projects position Tivan within a rapidly emerging segment of the Australian resources sector focused on securing domestic and allied supply of strategically important materials.

Tungsten and molybdenum are recognised on Australia’s Critical Minerals List and are considered vital across defence applications, aerospace alloys, electronics, semiconductors and energy infrastructure. Global supply remains highly concentrated, with China dominating production and processing. Against this backdrop, Tivan’s consolidation of Molyhil represents a meaningful step toward developing a Western-aligned source of these critical inputs at a time of heightened geopolitical focus on supply-chain resilience.

Acquisition Completion and Transaction Structure

Tivan has confirmed completion of its acquisition of the Molyhil Project after all conditions precedent under the Binding Term Sheet were satisfied. The asset was acquired from subsidiaries of Investigator Silver Limited and Thor Energy Plc, giving Tivan full ownership and operational control of the project and associated mineral rights.

The transaction consideration totals A$8.75 million. This includes A$3.5 million in upfront cash payments already made, comprising an initial deposit and a A$3.0 million completion payment. The remaining A$5.25 million is payable in three equal annual instalments beginning twelve months after signing. Tivan has the option to settle up to 50 per cent of each deferred instalment in shares, providing balance-sheet flexibility as development progresses.

Resource Base and Development Readiness

The Molyhil Project hosts a JORC (2012) compliant Measured, Indicated and Inferred Mineral Resource of 4.647 million tonnes grading 0.26 per cent tungsten trioxide and 0.09 per cent molybdenum. This equates to contained metal of approximately 12,100 tonnes of tungsten trioxide and 4,400 tonnes of molybdenum, reported at a 0.05 per cent WO₃ cut-off and constrained to an open-pit mining scenario.

Importantly, the project includes existing infrastructure such as an operational production water bore, reducing early development risk and capital intensity. The resource estimate has been independently reviewed by SRK Consulting, providing further confidence in the geological model and supporting assumptions underpinning the project’s development pathway.

Development Pathway and Planned Studies

Tivan has initiated a structured program of work to advance Molyhil toward development. A preliminary commercial assessment, environmental approvals pathway review and metallurgical testwork design are already underway. These activities support completion of a Scoping Study targeted for April 2026, which will assess mining, processing, infrastructure and economic parameters.

Following the Scoping Study, Tivan intends to progress the project into a Pre-Feasibility Study, subject to results. Dedicated technical and project personnel have been allocated to support engineering, geology, metallurgy and approvals activities, reflecting management’s intent to fast-track development.

Exploration Upside and Drilling Program

Preparations are advancing for an initial drilling program scheduled to commence in March 2026. The program will target priority zones of tungsten mineralisation outside the current resource envelope, with the objective of identifying extensions capable of increasing the project’s scale and longevity.

Drill targets have been generated from detailed gravity surveys and supported by historical geophysical datasets. The planned program comprises approximately 1,950 metres across 13 drillholes targeting four high-priority areas. A broader development-focused drilling campaign is planned for the second half of 2026, subject to approvals and results.

Regulatory, Community and ESG Considerations

Environmental approvals pathway scoping is underway, with an environmental mining licence application lodged to cover planned drilling and associated works. Sacred Site Clearance Certificates are already in place, and Tivan is continuing engagement with the Central Land Council to ensure development proceeds in line with local requirements and expectations.

The company is also progressing community development discussions in the Harts Range region, reinforcing its commitment to responsible development and local participation. These initiatives align with growing expectations around ESG performance in critical minerals development.

Strategic Importance and Market Context

The acquisition of Molyhil significantly strengthens Tivan’s exposure to commodities identified as strategically critical by Australia, the United States and the European Union. Tungsten, in particular, is essential for defence hardening, cutting tools, electronics and aerospace components, while molybdenum is a key alloying metal used to improve strength, corrosion resistance and thermal stability.

China’s dominant position in global tungsten supply has increased interest in alternative sources. In this context, Molyhil’s location within Australia, stable jurisdiction and development readiness elevate its strategic value. The project also complements Tivan’s Sandover Fluorite Project, offering potential future synergies in infrastructure and logistics.

Outlook

Tivan has outlined a fast-track development timeline targeting a Final Investment Decision in the fourth quarter of 2027. Near-term priorities include completion of the Scoping Study, execution of drilling programs and continued engagement with strategic partners. A Memorandum of Understanding signed with Sumitomo Corporation in late 2025 further highlights growing international interest in the project’s development potential.