• Tivan secures option for 100% of an Exploration and Evaluation License adjacent to Baucau Project
• License covers 48km2 with potential for base metals mineralisation
• Initial payment of $125,000, total consideration up to $500,000 if option exercised
• Option allows Tivan to expand Baucau Project's footprint

Tivan Ltd (ASX: TVN) has executed a Binding Term Sheet with Iron Fortune Pty Ltd, granting Tivan's wholly-owned subsidiary Aitutu an option to acquire 100% of an Exploration and Evaluation License (License) in the Democratic Republic of Timor-Leste. The License, located to the west of Tivan's Baucau Project, covers an area of 48km2 considered highly prospective for base metals mineralisation. Tivan will pay $125,000 upon execution of the Binding Term Sheet. If Tivan elects to exercise the option before 30 June 2027, the total consideration payable to Iron Fortune will be $500,000, consisting of a cash payment of $250,000 and the issuance of Tivan shares valued at $250,000. The option provides Tivan with an opportunity to further assess the prospectivity of the License and, if technically warranted, expand the footprint of the Baucau Project, where the company is exploring for copper, gold, and other critical minerals.