Tivan secures option over prospective mineral concession adjacent to the Baucau Project in Timor-Leste

• Tivan has executed a Binding Term Sheet (“BTS”) with Iron Fortune Pty Ltd (“IFPL”) granting Tivan an option to acquire 100% of an Exploration and Evaluation License (“License”) located to the immediate west of the Company’s Baucau Project in the Democratic Republic of Timor-Leste.
• The License covers an area of 48km2 that is considered highly prospective for base metals mineralisation.
• Tivan will pay an amount of $125,000 to IFPL following execution of the BTS; should Tivan elect to exercise the option before 30 June 2027, consideration payable to IFPL will total $500,000, comprised of a cash payment ($250,000) and issue of Tivan shares (to the value of $250,000).
• The option provides an opportunity to further expand the footprint of the adjacent Baucau Project where Tivan is exploring for copper and gold, and other critical minerals.

Comment from Executive Chairman of Tivan Limited

Mr Grant Wilson commented:

“We are very pleased to complete this transaction with Iron Fortune, an early mover in Timor-Leste. We appreciate the good faith shown throughout the negotiation.
We hope to advance further opportunities to collaborate, both for mutual benefit and to progress the development of the mineral resources sector in Timor-Leste, with respect and trust”.

The full ASX Announcement is available here.