MTR.L Regulatory News (MTR)

Metal Tiger Plc

11 April 2016

Metal Tiger Plc

("Metal Tiger" or the "Company")

Thailand Silver-Lead-Zinc Mines Standstill Letter Agreement

Metal Tiger plc (LON:MTR) the London Stock Exchange AIM listed investor in strategic natural resource opportunities is pleased to provide an update to market in respect of its work to secure an interest in the Boh Yai and Song Toh Silver-Lead-Zinc mines within its exploration properties in Kanchanaburi Province, Western Thailand (the "mines").

Highlights:

- Standstill Letter Agreement ("SLA") now agreed between Metal Tiger plc, Metal Tiger's 90% owned Thai subsidiary Southeast Asia Exploration and Mining Co. Ltd ("SEAM") and the owners of the historical Boh Yai and Song Toh Silver-Lead-Zinc mines (the "parties");

- SLA provides for a three month standstill agreement allowing time for the parties to undertake due diligence and to formulate a formal joint venture agreement, wherein the parties will work together to secure mine permitting and complete rehabilitation works with a view to bringing the mines back into production at the earliest opportunity;

- In consideration for entering into the SLA the Company will pay the mine owners US$80,000 (£56,637) and US$50,000 (£35,398) in Metal Tiger plc shares priced at the closing price on 8th April 2016 of 4.05p which equates to 874,025 new Metal Tiger ordinary shares. Total consideration payable to the mine owners for the SLA to be implemented is thus £92,035;

- During the standstill period the mine owners agree not to engage in external discussions with or seek to dispose of their interest in the mines to, any other third party, save for Metal Tiger and SEAM;

- The parties are now at a very advanced stage of discussions with a view to forming a joint venture agreement at the earliest opportunity. Specifically detailed plans have now been drawn for mine permitting and the rehabilitation process, and the parties are currently identifying the professional advisers and processes to be implemented, when a joint venture agreement has been reached.

Paul Johnson Chief Executive Officer of Metal Tiger plc commented "Today's announcement marks a major step forward. Rehabilitation of the mines will be a tremendously positive step forward for the local community given the many hundreds of jobs that will be created over the life of mine. The high-grade nature of the mineralisation, combined with established mine, infrastructure and processing plant, makes this a unique commercial opportunity for all parties.

SEAM's engagement with the mine owners over many years has formed the basis for a very strong and trusting commercial relationship. That is something all parties wish to preserve and nurture. Our work in recent months has been very positive and we would like to thank the mine owners and our advisers in Thailand for their assistance, professionalism and commerciality.

This SLA provides time for all parties to undertake their respective due diligence, mostly focused on joint venture agreement construction and technical features of the project.

Investors should however be aware that mine planning works and negotiations are very advanced, and it is the desire of all parties to conclude a commercial transaction at the earliest opportunity. In this regard we will provide updates to market as material events occur."

Note: when reviewing this announcement investors are advised to also review the Company's announcement dated 16th February 2016 which detailed the terms of Metal Tiger's acquisition of SEAM interests in Thailand and which provided the basis for Metal Tiger to enter into this SLA, through a 90% holding in the Thailand operational vehicle.

This SLA and the proposed commercial transaction being considered reflects a major step forward and will enable Metal Tiger to utilise the considerable project specific research and information gathered from SEAM's involvement with the mines over a number of years.

Specifically SEAM has secured Eight Special Prospecting Licence Applications ("SPLAs") surrounding the historical mining operations at the Boh Yai and Song Toh Silver-Lead-Zinc mines where historical Metallgesellschaft and German consultant records indicate over five million tonnes of crude ore was processed producing approximately 520,000 tonnes of concentrate to smelter over a 22 year period.

In addition, SEAM has created an Exploration and Mining database relating to the Boh Yai and Song Toh mines. This includes local/regional mapping, soil & rock chip sampling and three geophysics programs. Furthermore the dataset includes material utilised to produce an NI 43-101 resource and Preliminary Economic Assessment extending to mine planning, geology and micro mine files, economic modelling and conceptual tailings planning.

Considering the above and the longstanding working relationship with the mine owners, SEAM in conjunction with Metal Tiger is exceptionally well placed to assist permitting and mine rehabilitation.

Admission to Trading and Total Voting Rights:

The 874,025 new ordinary shares are expected to be admitted to trading on or around 20th April 2016. Following the issue of the new ordinary shares, the number of ordinary shares in issue in the Company will increase to 501,883,613. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of Metal Tiger following this allotment consists 501,883,613 ordinary shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Metal Tiger under the DTRs.

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

Notes to Editors:

Metal Tiger plc is listed on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a precious and strategic metals focus.

The Company's target is to deliver a very high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector timed to coincide, where possible, with a cyclical recovery in the exploration and mining markets. The Company's key strategic objective is to ensure the distribution to shareholders of major returns achieved from disposals.

Metal Tiger's Metal Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt. In Spain Metal Tiger the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand Metal Tiger has expanding interests over licences, applications and critical historical data covering antimony, copper, gold, silver, lead and zinc opportunities.

The Company has access to a diverse pipeline of new opportunities focused on the natural resource sector including physical resource projects, new natural resource centred technologies and resource sector related fintech opportunities. Pipeline projects deemed commercially viable may be undertaken by Metal Tiger or by an ISDX or AIM partner with whom the Company is engaged.

Metal Tiger also has an Asset Trading Division that holds various financial instruments for trading purposes including equities, warrants and royalty income. The aim of the division is to generate profits to reinvest into the Company's project based activities.