Tiger Resources Limited : Tiger Achieves 2013 Production Guidance at Kipoi Copper Project

ABN 52 077 110 304

14 January 2014

TIGER ACHIEVES 2013 PRODUCTION GUIDANCE AT KIPOI COPPER PROJECT

Highlights:

• Production of 41,255 tonnes of copper-in-concentrate for 2013 calendar year - more than 4,000 tonnes above original guidance of 37,000 tonnes

• 2014 production guidance for HMS plant at Kipoi is 39,000t of copper at cash cost

$0.30/lb of copper produced

• Company on track to start producing copper cathode in Q2 2014 from Stage 2 SXEW

plant Perth, Western Australia: Tiger Resources Limited (ASX: TGS) is pleased to announce it has achieved its 2013 production guidance of 41,000-43,000 tonnes of copper-in-concentrate at the Company's Kipoi Copper Project in the Democratic Republic of Congo (DRC).

The Company produced 41,255 tonnes of copper for the 12 months to 31 December 2013 at the Stage 1 heavy media separation (HMS) plant at Kipoi. During the December quarter, Tiger carried out necessary maintenance work on the HMS plant. The work included replacing the liners on the primary crusher, the secondary crusher and the double deck screens.
Tiger's Managing Director Brad Marwood said he was delighted with the 2013 performance of the Kipoi plant.
"For the plant to achieve our updated production guidance of more than 41,000 tonnes - exceeding our initial guidance by more than 4,000 tonnes - is extremely satisfying and is testament to the commitment of our staff on the ground as well as our management team."
"The HMS has been operating well above nameplate capacity for most of 2013". Tiger's 2014 production guidance for the HMS plant at Kipoi is 39,000t of copper in concentrate, up 85% from the original guidance of 21,000t. The HMS plant's average operating cash cost for 2014 is forecast to be $0.30/lb of copper produced.
In addition to the HMS operation, Tiger's Stage 2 solvent-extraction electro-winning (SXEW)
plant at Kipoi is on schedule to commence production of copper cathode in Q2 2014.
The Company plans to produce 25,000t of copper cathode in the first full 12 months of production at the SXEW plant, and 50,000t per year from then on.
Full production and operating costs from Kipoi will be detailed in the Company's December
Quarterly Activities Report to be released later this month.

Level 1, 1152 Hay Street, West Perth, WA 6005 - PO Box 379, West Perth, WA 6872

T: [phone] F: [phone] E: [e-mail] W : www.tigerresources.com.au

BACKGROUND

Tiger Resources' 60%-owned Kipoi Project covers an area of 55 square km and is located 75km north-north-west of the city of Lubumbashi in the Katanga Province of the DRC. The project contains a 12km sequence of mineralised Roan sediments that host at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe.
The Company has reported JORC-compliant resources at four of the deposits: Kipoi Central, Kipoi North, Kileba and Judeira. The principal deposit is Kipoi Central, which contains a zone of high grade copper mineralisation within a much larger, lower grade global resource. Production targets are underpinned by estimated ore reserves which have been prepared by competent persons in accordance with the requirements of the JORC.
Tiger is undertaking a phased development at Kipoi, where the Stage 1 heavy media separation
(HMS) plant is in production and on the basis of recently completed grade control drilling now expects to process 3.5Mt of ore grading approximately 7% Cu to produce a total of 132,000 tonnes of copper in concentrate over its 42 month life.
Construction of the Stage 2 SXEW plant commenced in January 2013 and is on schedule for first production of copper cathode in Q2 2014. The feasibility study (FS) for Stage 2 (refer ASX announcement dated 9 January 2013) has confirmed the operation as a low-cost, high-margin project capable of producing 376,600 tonnes of copper cathode over nine years, processing ore reserves from the Kipoi Central, Kileba and Kipoi North deposits and reject floats, slimes and medium grade ore stockpiles from the Stage 1 HMS operation. The Stage 2 site cash operating costs are forecast at $0.72/lb for the first two years of the operation (no mining required), increasing thereafter to produce a life of mine (LOM) average of $1.13/lb and with a LOM average C3 cost (all-in cost) of less than US$1.50/lb.
It is envisaged that ore from Judeira and other deposits within the Kipoi Project area, as well as the Lupoto Project, will also be processed during the Stage 2 operations, providing additional returns and increasing the mineral resources available as feedstock to the Stage 2 SXEW plant. Increased resources will potentially increase the nine-year mine life demonstrated in the feasibility study and/or annual plant throughput.
For further information in respect of the Company's activities, please contact:

Brad Marwood

Managing Director

Tel: [phone]

Email: [e-mail]

Stephen Hills

Finance Director

Tel: [phone]

Email: [e-mail]

Nathan Ryan

Investor Relations

Tel: [phone]

Email: [e-mail]

Company website: www.tigerresources.com.au

Caution Regarding Forward Looking Statements and Forward Looking Information: This report contains forward looking statements and forward looking information, which are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements and forward looking information, including but not limited to those with respect to the Stage 1 mining, HMS and spiral system operations and the development of a Stage 2 SXEW plant at Kipoi Central, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Such

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factors include, among others, the actual market prices of copper, coba/t and si/ver, the actual resu/ts of current exp/oration, the availabi/ity of debt financing, the volati/ity in global fin ancia/ markets, the actual results of future mining, processing an d development activities an d changes in project parameters as p/ans continue to be evaluated.There can be no assurance that the Stage 1 HMS p/ant wi/1 operate in accordance with forecast performance, that anticipated metallurgica/ recoveries wi/1 be achieved, that future evaluation work wi/1 confirm the viabi/ity of deposits identified within the project, that future required regulatory approvals wi/1 be obtained, that the Stage

2 expansion of the Kipoi Project wi/1 proceed as p/anned and within expected time limits and budgets or that, when comp/eted, the

expanded Kipoi Stage 2 project wi/1 operate as anticipated.

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