Tivan Starts Maiden Diamond Drilling at Scorpion Copper-Gold Prospect in Timor-Leste

Highlights:

• Drilling is underway: Tivan's first diamond drilling program at the Scorpion Prospect, part of the Baucau Project, has begun.

• Up to six holes, 1,500 metres: the program tests a polymetallic geochemical anomaly about 1,000m by 800m, aiming at copper-gold potential.

• Assays due early Q1 2027: drilling should take around two months, with samples analysed at Intertek in Jakarta.

Timor-Leste's First Drilling Milestone

Tivan Limited (ASX: TVN) reported on 9 November 2026 that it has begun its maiden diamond drilling program at the Scorpion Prospect in the Democratic Republic of Timor-Leste, after receiving the necessary approvals on 26 October 2026. The company called the start of drilling a historic moment for the country's minerals sector. TVN shares last traded at AU$0.165, a gain of AU$0.010 or 6.451%.

Contractor PT Indodrill Indonesia has mobilised a man-portable rig to the Baucau concession MEI-2023-CA-ZB003, and drilling is running at hole BAU26_DEXP001.

What the Program Will Test

Up to six stratigraphic holes totalling as much as 1,500 metres will be drilled inside a 2.3 square kilometre area. They target the ground beneath a polymetallic anomaly that Tivan outlined earlier through mapping, geochemical sampling and geophysics, including 70 rock chip samples. The holes will deliver the first subsurface data on the prospect's mineralisation potential.

Why a Man-Portable Rig

Tivan chose the ID500 rig because Scorpion has steep terrain and limited access. Its modular parts can be carried to each site and assembled there, which cuts clearing, earthworks and noise compared with truck-mounted reverse circulation equipment. Diamond drilling also recovers continuous core, letting geologists study contacts, structures, alteration, veining and sulphides in detail. Tivan expects to prefer the same rig for the Turiscai Project, tentatively planned for mid-2027.

Community Involvement and Next Steps

About 40 people from villages around Ossoala will join Tivan's local team on the campaign, and a ceremony with community leaders and officials from Autoridade Nacional dos Minerais Timor-Leste, I.P and Murak Rai Timor E.P. is planned for the day after the announcement. Core will go to Casa Tivan in Baucau for logging and sampling before export to Jakarta, with results feeding future exploration planning.

Executive Chairman Grant Wilson said the team worked to start ahead of the monsoon season and that lessons learned will shape 2027 drilling.

Note: All data presented is based on information available at the time of writing.

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