viewMetal Tiger PLC

Participation in Thor Mining Placing


Metal Tiger plc

(“Metal Tiger” or the “Company”)

Participation in Thor Mining Placing

(AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that it has conditionally subscribed for, in aggregate, 50,000,000 new ordinary shares of 0.01p each in the capital of Thor Mining plc (“Thor Shares”) (“Thor”) at a price of per share, for a total consideration of (the “Investment”).Metal Tiger plcA$0.005A$250,000

The Investment forms part of a fundraise by Thor, announced earlier today, seeking to raise, in aggregate, (the “Fundraise”) in conjunction with entering into an exclusive option agreement for the potential acquisition of certain uranium and vanadium interests in the (the “Option”).A$970,000U.S

Thor’s announcement can be viewed via the following link:https://www.asx.com.au/asxpdf/20200601/pdf/44j8nm5x2fvrgs.pdf

As part of the Fundraise, investors have been granted one warrant for every two subscribed for, exercisable at a price of per share for a period of three years from the date of issue (“Warrants”). Accordingly, as part of the Investment, Metal Tiger will be issued with, in aggregate, 25,000,000 Warrants.Thor SharesA$0.01

The Investment is conditional upon the approval of Thor shareholders at a duly convened general meeting, expected to be held in .June 2020

Completion of the Investment will increase Metal Tiger’s shareholding to 146,550,000 , representing approximately 11.46% of Thor's then enlarged issued share capital.Thor Shares

Thor intends to utilise the net proceeds from the Fundraise to:

Thor is an AIM and ASX listed exploration and development natural resources company, with interests in tungsten, molybdenum and copper projects in and the . For the year ended , Thor reported a net loss of £0.74 million. As at , Thor had net assets of £12.1 million. , Chief Investment Officer of Metal Tiger, is a Non-Executive Director of Thor.AustraliaUSA30 June 201931 December 2019Mark Potter

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

“We continue to see significant value in Thor Mining and are pleased to support their fund raise which has seen Thor successfully raise money from Australian investors and secure an option to acquire highly prospective US uranium and vanadium exploration projects. We believe that the outlook for uranium demand in the US is expected to be particularly robust and are pleased Thor now has significant exposure to this commodity.”

“Further, we are also pleased to see plans being made to progress exploration drilling activities at Kapunda to define a gold resource, and we look forward to further news in the short term.”

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) (“MAR”).

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: Equity Investments and Project Investments.

invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 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 for the Project Investments division.Equity InvestmentsSandfire 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 .Project InvestmentsBotswanaKalahari 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

  1. fund potential exploration activities at the uranium and vanadium projects subject to the Option;
  2. further invest in , with a primary objective of drill testing the gold potential at Kapunda;EnviroCopper Limited
  3. follow up field work at the Pilbara project where visible gold and anomalous nickel have been encountered in early stage work; and
  4. provide general working capital.

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 Limited

Tel +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: 22

Market: AIM
Market Cap: £33.49 m

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on 1/6/20