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President’s Letter
- September / October 2008
Dear Tiger Shareholders:
Tiger has won success
in the Philippines. The mineral rights for our advanced exploration
project named The Esperanza Gold Project were formally granted
to our subsidiary in January 2008, subject to obtaining the consent
of the indigenous people in the area. Several community meetings
were held and the project described to the local residents, surface
rights holders and elders, and their consent was recently awarded.
While only 51% support was required we understand that the support
was almost unanimous.
This clears the way for Tiger to pull permits for conducting the
exploration program. There are no other conditions on the granting
of the mineral rights and now we can proceed with confidence.
The project is located in the north of the Philippines 11 kilometers
outside Baguio, a mountain resort city, and is situated along the
Baguio Gold Belt on the Philex Mine Road, a cement public road. Infrastructure
is excellent, water, electricity and phone are available, and evidence
of prior successful exploration and gold production indicates a high
probability of economic success. The 43-101 Ian Cooper report states
that a resource of 500,000 to one million ounces of gold is likely,
and recommends an open pit approach. Prior data, including drill
results, developed by earlier companies has been located and studied.
Our plan is to redrill and sample old drill targets and trenches
to confirm prior results and analyze tailings from prewar production,
and to develop a bankable feasibility study which will include a
definitive resource analysis. We intend to obtain a valuation at
that point which will support the company graduating to a more senior
Exchange. Tiger owns 100% of the granted mineral rights to Esperanza.
We want to express thanks to the excellent consultants – Jerry
Marave, our counsel in Baguio, and Jimmy Zafra, our Philippine geological
consultant - for their dedication in working with the indigenous
people and elders in obtaining the consents, as well as the elders
who deliberated over our proposal and granted their support. Tiger
will benefit the community by assisting with community projects,
employment and royalties from production.
The immediate plan is
to pull the appropriate permits and commence the exploration program,
and planning of the actual program will
take into account market conditions and financing prospects.
Sincerely,
Tiger International Resources Inc.
Patric Barry
President, Tiger International Resources Inc.
E-Mail: 26981@sbcglobal.net
(949) 362.1600
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