Tivan's Evaluation of Vanadium Technology Pathways

Tivan Limited (ASX:TVN) has completed a review of the vanadium technology pathways for the development of the Speewah Vanadium Titanomagnetite Project in Western Australia. The evaluation focused on the TIVAN+ processing technology with CSIRO and a conventional salt roast technology, both of which have shown promising results at bench-scale.

Executive Commentary on Vanadium Technology Review

The principal purpose of Tivan's vanadium technology review was to consolidate the material progress made over the past eighteen months and to promote competitive tension between the two development pathways. The review has confirmed Speewah's credentials as a world-class vanadium resource and highlighted the significant commercial synergies that will be generated by the successful delivery of the Speewah Fluorite Project. The stellar testwork results for salt roast have kept the traditional technology pathway in the frame at Speewah. Meanwhile, the outstanding testwork results produced by CSIRO on TIVAN+ have advanced the prospect of achieving a step-change improvement in critical minerals processing technology in Australia. While it is premature for Tivan to recommence project studies phases for the Speewah Vanadium Titanomagnetite Project, the tangible progress made on technology pathways and achieving downstream specifications is generating significant third-party interest. This will also inform our strategic direction, especially in the ongoing development of the TIVAN+ technology.

Summary of Vanadium Technology Pathway Review

Tivan has completed a review of the vanadium technology pathways for the Speewah Vanadium Titanomagnetite Project, with both the TIVAN+ processing technology and conventional salt roast technology showing promising results. The Company is advancing negotiations with the government for the development of a TIVAN+ Pilot Plant and will provide further updates on both technology pathways in Q4. Tivan has also received significant third-party interest in the TIVAN+ technology, and the Company's Executive Chairman will present on Tivan's vanadium development pathways at an upcoming symposium. The Company's focus on progressing development planning and execution of the Speewah Fluorite Project is expected to be beneficial for the future development of the vanadium titanomagnetite deposit. Tivan is reviewing opportunities for collaboration and is advancing negotiations with the government regarding facilitation and funding to support the development of a TIVAN+ Pilot Plant. The Company will provide further updates on both vanadium development pathways in Q4 as progress is made.