Sandfire Shareholding Update

11 May 2021 16:22

11 May 2021

Metal Tiger plc

("Metal Tiger" or the "Company")

Sandfire Shareholding Update

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, announces that, following its announcement of 4 June 2020, it has acquired, in aggregate, 129,300 shares in Sandfire Resources Limited (“Sandfire”) (“Sandfire Shares”), at an average price of A$4.94 per share and has disposed of, in aggregate, 312,933 Sandfire Shares at an average price of A$5.58 per share.

Following these trades, Metal Tiger’s resulting shareholding in Sandfire is now 6,143,357 Sandfire Shares, representing approximately 3.4 per cent. of Sandfire’s issued share capital.

As announced on 8 December 2020, 2,842,667 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.

For the six months ended 31 December 2020, Sandfire reported net profit of A$60,078,000. As at 31 December 2020, Sandfire reported net assets of A$806,054,000.

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

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Notes to Editors:

Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.

The Company's target is to deliver a high return for shareholders by investing in significantly undervalued and/or high potential opportunities in the mineral exploration and development sector. Metal Tiger has two investment divisions: Equity Investments and Project Investments.

Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment for the Project Investments division.

Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

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