Letter - January 2014
Dear Tiger Shareholder:
The Company has successfully completed an earn-in phase for the
Itogon Gold and Silver Project in the Philippines with ECR Minerals
PLC of London, UK. Both Tiger and ECR Minerals announced that the
due diligence period is completed, and the first payment of the agreed
to consideration under the Master Agreement has been received by
Tiger, satisfying all conditions of the agreement.
This month the work camp is set up, and the work program commences
with trenching and sampling, then followed by a drilling program
of a combination of reverse circulation and diamond drilling. Under
the agreement with ECR Minerals the first stage is planned by ECR
to confirm an initial resource of 200,000 ounces of gold, so the
work program will proceed accordingly, with later work to raise this
to higher levels. Tiger has requested that ECR provide reports in
a fashion that is compliant with 43-101 standards for reporting purposes
The details of the ECR earn-in have been previously announced. ECR
performs and funds the work, deals with the local Community, and
advances the project at its investment, and in increments earns up
to 50% of the project. Upon obtaining a Mining License (which is
further advancement than developing a positive feasibility study)
both companies contribute equally.
The great benefit to Tiger shareholders is that it relieves management
time to pursue other company opportunities, requires no share dilution
to existing shareholders, and earns cash which will cover corporate
overheads. We see the result as a win for both companies, and a win
for Tiger shareholders overall.
Tiger International Resources Inc.
President, Tiger International Resources Inc.