Tiger Resources Announces Share Purchase Plan



    PERTH, Western Australia, May 18 /CNW/ - Perth-based emerging copper
miner Tiger Resources Ltd (ASX/TSX - TGS) ("Tiger" or the "Company") is
pleased to announce a Share Purchase Plan ("SPP"). The SPP will give eligible
shareholders the opportunity to purchase up to $10,000 worth of ordinary
shares at an issue price of A$0.10 per share. The Company recently announced
that it has entered into an agreement with RBC Capital Markets ("RBC") to
raise A$9,000,000 by the issue of 90 million shares at a price of A$0.10 per
share on a best endeavours basis through a private placement of shares to
institutional and high net worth clients of RBC in North America, Europe and
Australia. The SPP allows eligible shareholders to purchase shares in the
Company at the same price as the private placement without incurring brokerage
or fees.
    The proceeds from the SPP will be used:

    
    -   to fund the resource drilling and further step out drilling at
        Tiger's grassroots copper discovery at the 100% owned Lupoto Project;
        and
    -   for working capital and general corporate purposes.
    

    The SPP is available to shareholders registered on the record date of 18
May 2009 and whose registered addresses are in Australia or New Zealand. New
shares to be issued under the SPP will rank equally in all respects with all
other shares of the Company. The issue of new shares under the SPP is subject
to the receipt of all necessary regulatory approvals including the approval of
the Toronto Stock Exchange. The Company will not seek shareholder approval for
the issue of any new shares under the SPP. The price represents a 20% discount
on the average closing share price for the Company's shares on the ASX over
the period of the last five trading days.
    The timetable for the offer is as follows (the dates are subject to
change):

    
    -------------------------------------------------------------------------
    Event                                                           Date
    -------------------------------------------------------------------------
    ASX Announcement                                            18 May 2009
    -------------------------------------------------------------------------
    Record Date                                                 18 May 2009
    -------------------------------------------------------------------------
    Dispatch of SPP to Shareholders                             19 May 2009
    -------------------------------------------------------------------------
    Opening Date of SPP                                         21 May 2009
    -------------------------------------------------------------------------
    Closing Date of SPP (subject to Directors' discretion)      18 June 2009
    -------------------------------------------------------------------------
    

    Background - Lupoto Project

    The Sase Prospect is situated within the Lupoto Project (PR2214) which
covers an area of 293 sq km. The permit is located approximately 10km to the
south of the Kipoi Project and the Sase Copper Prospect can be accessed by a
road that leads directly to Kipoi. The Company holds a 100% interest in the
Lupoto Permit and Aurum sprl has the right to a 1% NSR from any production.
    The Company has completed a 25 diamond hole (for a total of 4,294m) drill
programme at the Sase Prospect. Significant results from the programme include
107.10m @ 2.37% Cu (including 64m @ 3.27% Cu), 142.75m @ 2.14% Cu (including
73.25m @ 3.33% Cu), 70.30m @ 2.17% Cu, 30.50m @ 2.12% Cu, 38.85m @ 5.23% Cu
and 60.50m @ 3.49% Cu.
    The drill results have delineated a west-north-west elongated mineralised
envelope over a strike of about 600m that varies in width between 50 and 200m.
The majority of mineralisation so far tested resides in the oxide zone that
extends to 120m in depth. Mineralisation remains open along strike and at
depth. The mineralisation (both oxide and sulphide) is hosted in intensely
brecciated sedimentary rocks, mainly carbonaceous siltstones, shales and
dolomites of the Lower Kundelungu Group associated with a 10km long fault
system.

    Additional Notes:

    Scientific or technical information in this news release has been
prepared by or under the supervision of Mr David Young, Managing Director and
a full-time employee of the Company and a member of the AusIMM. Mr Young has
sufficient experience which is relevant to the style of mineralization under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves" and to
qualify as a "Qualified Person" under National Instrument 43-101 - Standards
of Disclosure for Mineral Projects. Mr Young consents to the inclusion in this
news release of the matters based on his information in the form and context
in which it appears.
    Assay results in this report were prepared by the independent laboratory,
ALS Chemex, South Africa and SGS Zambia.





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 8) 9240 1933,
Email: pflint@tigerez.com; Company website: www.tigerresources.com.au

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Tiger Resources Limited

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