Ann: Tiger Resources 2016 Guidance, page-4

TIGER ANNOUNCES 2016 PRODUCTION AND COST GUIDANCE Perth, Western Australia:

Tiger Resources Limited (ASX: TGS) (“Tiger”) is pleased to announce its guidance for 2016 copper cathode production and all-in sustaining costs for the Kipoi Copper Project in the Democratic Republic of Congo (DRC).

2016 Production and Cost Guidance Copper cathode production (tonnes) 26,000 - 28,000
Cash Operating Cost1 US$/lb 1.34 - 1.42
Royalties US$/lb 0.09
Sustaining CAPEX US$/lb 0.13 - 0.14
All-in Sustaining Cost (AISC)2 US$/lb 1.56 - 1.65 1.

Cash Operating Cost = mining, processing, site administration & support costs and selling, export& transport costs, before adjustment for deferred waste or stockpile movements 2.
All-in Sustaining Costs = Cash Operating Cost plus royalties and sustaining capital expenditure

Tiger plans to produce between 26,000 - 28,000 tonnes of copper cathode for 2016.

The Company expects 2016 cash operating costs to be in the range of US$1.34-1.42/lb,
royalties of US$0.09/lb
and sustaining capital of US$0.13-0.14/lb
for an all-in sustaining cash cost (AISC) in the range of US$1.56-1.65/lb.

Tiger’s interim CEO Mr Mike Griffiths, currently in the DRC, has emphasised that: “This is a new era for the company and the guidance reflects efforts to streamline the business and cost reduction to achieve the planned activities and production for 2016.
” Cash operating costs The breakdown of expected cash operating costs of US$1.34/lb is set out below:
US$/lb
•Mining $0.19
• Processing $0.57
• Site administration and support costs $0.31
• Selling, export and transport $0.27