Tiger Resource Regulatory News (TIR)

TIGER RESOURCE FINANCE PLC ("Tiger" or the "Company")

PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER, 2009

OPERATIONS REVIEW

Dear Shareholder,

The year under review has seen Tiger's net asset value rise to 3.36p (2.99p at 31 December 2008) representing a 12% increase in the year. 

Over the last two years, the world has witnessed the most unstable economic environment since the depression of the 1930s. The results for stock markets have been catastrophic, with valuations falling significantly below net asset value and sometimes cash. Very few companies escaped the carnage, irrespective of activity or market sector. Towards the middle of 2009, we witnessed some restoration in market values, with the financial sector weighing heavily against any real recovery. However, banks began to relax their lending constraints and a semblance of banking normality was restored. 

During this generally dismal period, both precious and base metal prices have been buoyant with few exceptions. The majors saw significant share price appreciation, whilst the juniors began real recovery, when investors could see value opportunities.

The demand for metals was driven largely by China, whose building and construction programmes showed no signs of slowing down. Whilst this was so, global markets became "jittery" as to the potential for a massive "bubble". The market remains divided as to the potential for the "bubble" bursting against others who insist that, at worst, we will experience a so called "soft landing". In addition, all commentators are reluctant to estimate exactly when these events may occur. The Board is of the opinion that fiscal management in China is better than the world gives it credit for and we expect a slow-down, but not the economic chaos evidenced by the credit crisis.

The Board considers that the continuing threat of sovereign debt repayment failure is potentially a bigger area of economic concern than the credit freeze. Throughout the period under review, Tiger has been mindful of conserving its treasury and has only made investments in well known situations where the risk is well understood.

Going forward, the Board is convinced that significant investment opportunities will be available, but on a selected basis. Earlier in the year, the Company issued an announcement that its investment management team has been enlarged and will target significant opportunities with greater unit size investment, the key areas of investment strategy being Africa and Asia. It is not the intention of the Board to be passive or responsive to opportunities, but more proactive in seeking out opportunities for investment.

The Investment Committee also intends to better position the Company in its investments and as such may form special purpose vehicles to pro-actively position Tiger in new junior companies.

Tiger is confident that despite the gloom and doom evident at the moment, global demand for metals will not abate and major opportunities will occur for growing the Tiger portfolio and net asset value.

PORTFOLIO REVIEW

1) Aquarius Platinum Ltd acquired Ridge Mining Plc in May 2009. As a result, the 50,000 Ridge Mining Plc shares held by the Company then were replaced with 18,182 Aquarius Platinum shares.

2) The valuation of the Ascent Resources Plc investment at 30 April 2010 is based on 9,642,857 shares, which was the Company's holding at that date.

3) The Company purchased 2,250 ETFS Physical Platinum units on 19 April 2010.

4) The Goldfields Ltd and Pan African Resources Plc investments were sold between 1 January 2010 and 30 April 2010.

5) The Minmet Plc and In-Solve Plc (formerly Africa Oil Exploration Plc) investments were impaired on 31 December 2008 to £15,200 and £37,500 and respectively.

YEAR ENDED 31 DECEMBER 2009

All profits are derived from continuing operations.

YEAR ENDED 31 DECEMBER 2009

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2009

CASH FLOW STATEMENT

YEAR ENDED 31 DECEMBER 2009

This preliminary statement is not the Company's statutory accounts. The statutory accounts for the year ended 31 December 2009 have been approved by the directors and have received an audit report which was unqualified and did not contain statements s 498(2) and (3) of the Companies Act 2006. These statutory accounts have not been delivered to the Registrar of Companies and will be sent to shareholders on 28 May 2010.

The Annual General Meeting of the Company (AGM) will be held on Thursday 24 June 2010 at 4.00 pm at the Pelham Hotel, 15 Cromwell Place, London SW7 2LA.

Pursuant to Rule 20 of the AIM Rules, the Annual Report and the notice of AGM will shortly be available at www.tiger-rf.com.

For further information please contact: