Tiger increases its interest in the Kipoi Project and receives notification of potential contract dispute



    PERTH, Western Australia, Aug. 4 /CNW/ - Tiger Resources Limited (ASX /
TSX: TGS) ("the Company") advises that the payment due on 29 July 2009 in
accordance with contractual arrangements relating to the Kipoi Project has
been completed and as a result the Company has increased its interest in the
project.
    In November 2006 Tiger Congo sprl, an 85% owned subsidiary of the Company
(collectively "Tiger"), entered into an agreement ("Agreement") with various
parties ("Vendors") to acquire 100% of Congo Minerals sprl ("Comin") in
stages. Comin owns 60% of SEK sprl, which is the holder of licences covering
the Kipoi project in the Democratic Republic of the Congo ("DRC"). The
remaining 40% of SEK sprl is owned by Gecamines, a DRC State owned company.
    In accordance with the Agreement, as amended, Tiger paid the Vendors
US$5.59 million on 29 July 2009 in order to acquire a further 23% and has
increased its interest in Comin to 50%.
    Tiger is required to pay the Vendors a further US$12 million on or before
29 May 2010 in order to acquire the remaining 50% interest in Comin.
    Tiger also advises that it has received a letter from the Vendors
implying that they may seek to dispute the amount paid by Tiger to increase
its interest in Comin to 50%, and to avoid complying with their obligations
under the Agreement.
    Tiger advises that it has met all its obligations pursuant to the
Agreement, including making all payments due to the Vendors in accordance with
the Agreement. In addition Tiger has incurred in excess of US$20 million on
exploration and development activities at the Kipoi Project, has completed a
detailed feasibility study, and has also received indicative terms from
potential project financiers and offtake parties in respect of bringing the
Kipoi Project into development.
    Tiger has responded to the Vendors seeking to resolve this matter through
discussion. However, in order to protect its rights under the Agreement in the
event a commercial resolution cannot be secured, Tiger will if necessary
commence legal action in the DRC against the Vendors.
    Tiger's legal counsel has advised that Tiger has a strong case and, if
required, Tiger will pursue all available legal remedies to protect its
interest in the Kipoi Project. Tiger will also take action against any third
party seeking to assist the Vendors in breaching their obligations under the
Agreement.

    Additional Notes:

    Caution Regarding Forward Looking Statements and Forward Looking
Information: This release 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 development of the Kipoi Project, the earning by Tiger of
its interest in the Kipoi Project through its acquisition of Tiger Congo and
Congo Minerals and the potential dispute with the Vendors regarding that
acquisition, and its plans to secure project finance for the Stage 1 Project,
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
factors include, among others, the actual market prices of copper, cobalt and
silver, the actual results of current exploration, the availability of debt
financing for a company that does not have any producing properties, the
volatility currently being experienced in global financial markets, the actual
results of future mining, processing and development activities, changes in
project parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's Annual Information Form, under the heading "Risk
Factors". The Company's Annual Information Form is available under the
Company's profile on SEDAR at www.sedar.com. In particular, no assurances can
be given that the potential dispute with the Vendors will be resolved in a
manner that does not materially adversely affect Tiger's interest in the Kipoi
Project.





For further information:

For further information: in respect of the Company's activities, please
contact: David Young, Managing Director, Tel: (+61 8) 9240 1933, Email:
dyoung@tigerez.com; Reg Gillard, Chairman, Tel: (+61 8) 9240 1933, Email:
gillardr@tigerez.com.au; Patrick Flint, Director, Tel: (+61 2) 9212 7999,
Email: pflint@tigerez.com; Company website: www.tigerresources.com.au

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Tiger Resources Limited

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