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President’s Letter - August 2011 Dear Tiger Shareholders: Tiger
gained official issuance of the license at The Esperanza Gold Project
this year. Our company now has the rights
to explore and develop the project, and plans to apply separately
to the local county for interim processing approval so we can conduct
a “run of mine production”. 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, an improved cement public
road. Infrastructure is excellent, water, electricity and phone are
available on site, and there is evidence of prior gold production.
Prior data, including drill results, developed by earlier companies
has been located and studied. Our plan is to angle drill and sample
old drill targets and trenches to confirm prior results and analyze
tailings from prewar production. At this time there is no compliant
reserve analysis or estimate. Tiger, through its Philippine subsidiary,
owns 100% of the processing rights to Esperanza. We recently learned
that Omico has partnered with Ivanhoe Canada and is drilling near
our west boundary. Indophil, a listed Australian company, is drilling
on our north east boundary and reporting good results. As these companies
release results we will learn from their efforts since our project
is located between them. Sincerely, Patric Barry
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