Annual and Final Technical Report Exploration Licence 31389 18 February 2024 - 25 June 2024

Abstract

This is the Final Surrender Report for EL 31389. It presents a summary of previously-reported exploration over the life of the title since grant on 25 May 2017, and includes a description of work conducted during the reporting period from 18 February 2024 to cessation of title on 25 June 2024. EL 31389, along with four other titles, comprised the Mount Peake Project, approximately 235 km NNW of Alice Springs. The Mount Peake orebody is hosted by a differentiated basic sill. The main focus of the Mount Peake Project in recent times has been evaluation of a potentially world class Fe-V-Ti deposit. Exploration over the life of the title included RC and diamond drilling, passive seismic survey, and water bore drilling and monitoring. No exploration was conducted over the title during the period from 18 February 2024 to 25 June 2024. In 2023 the Company announced that it was now recognising its Speewah (WA) Project as Tivan's flagship project, and was prioritising its development planning as the core mission of the Company. Given the priority focus on Speewah, the Company made the decision to relinquish EL 31389. Enigma Mining Limited surrendered all rights and interest in EL 31389 on 6 June 2024; cessation of the title occurred on 25 June 2024.