Something to consider is that it is real skin in the game they are playing with as they weren't gifted shares from spinning land or anything into the project for their paper.... Yes they are up nicely but still obviously think there is more to be had...

Investment in Los Cerros

15 September 2020

Metal Tiger plc

("Metal Tiger" or the "Company")

Investment in Los Cerros (ASX:LCL)

Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 750,000 new shares in Los Cerros Limited ("Los Cerros"), at a price of A$0.115 per share, for a total investment of A$86,000 as part of Los Cerros' fundraise of A$10.0 million announced on 15 September 2020 (the "Fundraise").

This is a follow-on investment to Metal Tiger's initial investment in Los Cerros in early 2020. The Los Cerros share price has increased 400% since Metal Tiger's initial investment, based on the latest closing share price.

Following completion of the Fundraise, Metal Tiger's holdings in Los Cerros will consist of 3.9 million shares representing approximately 0.9% of Los Cerros' then issued share capital, and 1.25 million warrants exercisable at A$0.10.

Los Cerros is an ASX listed gold explorer in Colombia, South America. Los Cerros' primary focus is the Quinchia Gold Portfolio, which is located in Colombia's Mid-Cauca Belt. The 10,500ha Quinchia Project contains a number of gold deposits and significant exploration and development targets including Miraflores, Tesorito, Chuscal and Dosquebrada. Los Cerros intends to utilise the proceeds of the Fundraise to pursue a substantial and sustained three-rig diamond drilling programme across multiple sites and to pay down debt.

The Miraflores project has a JORC Code compliant measured and indicated resource of 9.27MT @ 2.82 g/t Au and 2.77 g/t Ag for 840koz gold and 826koz silver, with scope to increase the size and grade of the resource through additional exploration drilling during Q4 2020. In addition, recent drilling at the Tesorito project has identified a new porphyry target with intersections including 230m @ 1.0 g/t Au, with higher grade gold from surface.