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Cobre Completion of Acquisition of remaining 20% of Toucan

--(BUSINESS WIRE)--LONDON

13 May 2020

Metal Tiger plc

(“Metal Tiger” or the “Company”)

: Completion of Acquisition of remaining 20% of ToucanCobre

(AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that, further to its announcement of , (ASX: CBE) (“Cobre”) has today announced that it has completed the acquisition of the remaining 20% of shares in (“Toucan”), which is now 100% owned by . Accordingly, as part consideration for the remaining Toucan shares acquired, has now issued a total of 6,160,000 new shares to the vendors.Metal Tiger plcCobre LimitedToucan Gold Pty LtdCobreCobreCobre28 April 2020

Further details on the acquisition be found here:

https://www.asx.com.au/asxpdf/20200513/pdf/44hsg96lzr7h96.pdf

The MTR Investment

As previously announced on , Metal Tiger has conditionally agreed to invest a further , at Cobre’s IPO price of per share, which will result in the issue of 1,550,000 new Cobre Shares to Metal Tiger (the “MTR Investment”). As Metal Tiger is a substantial shareholder in and has Board representation, the completion of the requires the approval of shareholders, with such approval to be sought at the Cobre’s Annual General Meeting, to be held later this year. Should shareholders approve the , Metal Tiger will be interested in 20,900,000 Cobre Shares, which, assuming no further shares are issued by , would result in Metal Tiger maintaining its 19.99% interest in the company.28 April 2020A$310,000A$0.20CobreMTR InvestmentCobreMTR InvestmentCobre

[, Chief Executive Officer of , commented:Michael McNeillyMetal Tiger plc

“This is an important step in the further development of the . With complete control over the asset, can now progress the project in a manner of its own choosing at a pace which will prove exciting for shareholders. We look forward to further updates from and from Perrinvale.”Perrinvale Copper ProjectCobreCobre

For further information on the Company, visit: :www.metaltigerplc.com

Notes to Editors:

is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.Metal Tiger plc

The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: and Direct Projects.Direct Equities

 invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.64% interest in (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects Division.The Direct Equities DivisionSandfire Resources Limited

 is focused on the development of its key project interests in , where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in .The Direct Projects DivisionBotswanaKalahari Metals Limited

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

Metal Tiger plc

Source:Metal Tiger plc

Michael McNeilly (Chief Executive Officer) Tel: +44 (0)20 7099 0738
Mark Potter(Chief Investment Officer)
 
Richard Tulloch

James Dance

Jack Botros

Strand (Nominated Adviser)Hanson LimitedTel +44 (0)20 7409 3494
 
Paul Shackleton

Steve Douglas

Arden Partners plc (Broker)Tel: +44 (0)20 7614 5900
 
Gordon Poole

James Crothers

Hugo Liddy

Camarco (Financial PR)Tel: +44 (0)20 3757 4980

Quick facts: Metal Tiger PLC

Price: 26

Market: AIM
Market Cap: £39.57 m
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