Tiger Resources consolidates project interests around Kipoi Resource

    PERTH, Western Australia, Oct. 21 /CNW/ - Perth-based emerging copper
miner Tiger Resources Ltd (ASX/TSX - TGS) ("Tiger" or the "Company") is
pleased to announce that it has reached agreement with Aurum sprl to
restructure the existing joint venture between the two companies.
    Tiger's strategy is to focus on the discovery of copper/cobalt deposits
within a radius of 25kms (trucking distance) around its lead Kipoi Project,
which is located approximately 75 kms north of Lubumbashi. In September 2008
Tiger completed a Definitive Feasibility Study confirming the viability of the
planned Stage 1 development at the Kipoi Central deposit. Tiger has also
recently completed resource drilling on two other deposits within the Kipoi
Project area, Kileba and Kipoi North. It is envisaged that (less than)3% Cu
ore from Kipoi Central and the other deposits within the Kipoi area would be
processed through a central SXEW plant to be constructed in the Stage 2
development of the project. Tiger is targeting achieving annual copper
production of 100,000tpa from an SXEW plant located within the Kipoi area by
    In line with Tiger's intention to develop a mining operation at Kipoi in
2009, Tiger has revised its exploration strategy to now target the discovery
and development of additional substantial copper deposits within trucking
distance of Kipoi in order to benefit from economies of scale.
    As part of this strategy, the terms of the joint venture with Aurum sprl
have been amended such that Tiger will hold 100% of the Lupoto Project
(PR2214) and Aurum will retain 100% of the Kolwezi Project. Tiger will also
have the right to a 1% NSR from any production at the Kolwezi Project and
Aurum will have the right to a 1% NSR from any production at the Lupoto
    The Lupoto Project (PR2214) has a surface area of 293 sq km and is
located approximately 10kms to the south of the Kipoi Project area. The same
structures and lithologies which host the Kipoi deposits have been identified
as extending into the northeast of the PR2214 over a distance of at least 3km,
and Tiger considers there is excellent potential to identify ore for
processing at the planned Kipoi plant facilities.
    Previous drilling by Tiger at the Lupoto Project has identified three
significant anomalous areas, Sase, Kapampala and Mwana. Aircore drilling at
Sase outlined significant copper mineralization over a minimum area of 450m by
50m. High grade copper intersects included 67m @ 2.83% Cu and 0.19% Co (hole
stopped in mineralisation) and 51m @ 1.50% Cu and 34m @ 1.15% Cu. The
mineralisation is hosted within strongly weathered dolomites and black shales
and is centred at the intersection of a major east-west, north-south trending
fault system.
    Results from a diamond drilling programme at Sase are expected later in
the year. Further work is also planned for the Kapampala and Mwana prospects
in 2009.
    In addition, under the revised joint venture terms Tiger will have the
right to earn a 70% interest in the Sakania Project by spending US$5 million
and completing a bankable feasibility study within 5 years. The Sakania
Project is prospective for gold, copper, cobalt and platinoids, covers an area
of 1,095 sq kms and is close to First Quantum's Frontier deposit.

    Managing Director

    Additional Notes:

    Scientific or technical information in this news release has been
prepared under the supervision of Mr David Young, Managing Director of the
Company and a member of the Australasian Institute of Mining and Metallurgy
(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" (the JORC Code) and to qualify as a "Qualified Person" under
National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101"). Mr Young consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.

    Caution Regarding Forward Looking Statements: The forward-looking
statements made in this news release are based on assumptions and judgments of
management regarding future events and results. Such forward-looking
statements, including but not limited to those with respect to the development
of a Stage 1 mining operation and 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 factors include,
among others, the actual market prices of copper, cobalt and silver, the
actual results of current exploration, 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
filed documents.

    To view the Tiger Project Location Map please visit:

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; Nathan Ryan, Investor Relations, Tel: (+61 8) 9240 1933,
Email: nryan@tigerez.com; Reg Gillard, Chairman, Tel: (+61 8) 9240 1933,
Email: gillardr@tigerez.com.au; Company website: www.tigerresources.com.au

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