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Tiger Resources Announces Share Placement to Fund DRC Exploration and Development
Wednesday February 20, 2008, 8:51 am

Original Announcement: Share Placement to Fund DRC Exploration and Development

Tiger Resources announced that it has agreed to issue 12.6m shares at an issue price of 50 cents each to Macquarie Bank for gross proceeds of $6.3m. The proceeds of the placement will be used for exploration and development of the Company's projects in the Democratic Republic of Congo. In particular the funds will be used for feasibility work at the Kipoi Project, where testwork has confirmed the viability of a Heavy Media Separation process for the Kipoi Central deposit to produce 32,000t of blister Copper per annum. An initial resource estimate for the Kipoi Central deposit is expected by the end of February.

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