Red Tiger Mining Inc. announced that it has restructured its senior secured loan and its subordinate secured loan such that Gerald Metals S.A. has acquired the Senior Loan and will provide Red Tiger with an additional USD 1.5 million working capital facility. The Working Capital Facility plus the accrued interest on the Gerald Loan of approximately USD 1.7 million has been given a priority ranking over all other Red Tiger debt facilities. The USD 3.5 million principal amount of the Gerald Loan has been combined with the approximately USD 9.5 million outstanding Senior Loan balance to form a second tranche of secured debt of approximately USD 13.0 million.

Both the Priority Tranche and the Second Tranche shall bear interest at a rate of 9.9% per annum, a reduction from the previous rates of 10.9% under the Senior Loan and 15.0% under the Gerald Loan. Red Tiger also announced that it has extended the term of its copper Offtake Agreement with Gerald Metals from an expiry of 2018 to life of mine. All other commercial terms remain the same.

Furthermore, as Red Tiger plans to develop its gold resource, Red Tiger will enter into an exclusive, life of mine, gold Offtake Agreement with Gerald Metals under commercially acceptable terms.