viewMetal Tiger PLC

Extension to Heads of Agreement Between Cobre and KML


22 October 2020

Metal Tiger Plc

("Metal Tiger" or the "Company")

Extension to Heads of Agreement Between Cobre and KML

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that, further to the announcement on , regarding the shareholders of Kalahari Metals Limited (“” or “”) entering into a binding heads of agreement (“”) with Cobre Limited (ASX:CBE) (“”), pursuant to which Cobre will acquire up to 51% of Kalahari Metals (the “”), all parties have agreed to amend the HoA as set out below.24 August 2020Kalahari MetalsKMLHoACobreProposed Transaction

Under the amended HoA, the period for completion of requisite due diligence has been extended and will expire on . In addition, the exclusivity period has been extended to . All other terms of the HoA remain as previously announced.20 November 202020 December 2020

All parties continue to work towards satisfying all conditions precedent as soon as possible and by no later than .20 December 2020

Metal Tiger owns a 62.17% interest in KML and a 18.79% interest in Cobre. Following completion of the Proposed Transaction, Metal Tiger will have approximately 20.72% of the issued share capital of Cobre and would have an economic interest in Kalahari Metals of approximately 59.57% (comprising a direct interest of 49.00% and an indirect interest of 10.57% as a result of the Company’s direct interest in Cobre).

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

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


Notes to Editors:

Metal Tiger PLC 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.

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 Sandfire Resources Limited (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 Investments

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 Kalahari Metals Limited.Project InvestmentsBotswana

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

Mark Potter

(Chief Executive Officer)

(Chief Investment Officer)

Tel: +44 (0)20 7099 0738

Richard Tulloch

James Dance

Jack Botros

Strand Hanson Limited (Nominated Adviser)

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: -

Market: AIM
Market Cap: -

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