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Cobre Limited - Perrinvale VHMS Project Update

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LONDON, January 28, 2022--(BUSINESS WIRE)--

28 January 2022

Metal Tiger Plc

("Metal Tiger" or the "Company")

Cobre Limited - Perrinvale VHMS Project Update

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to note the successful outcomes of the 2021 field exploration programme on Cobre Limited’s (ASX:CBE) ("Cobre") wholly owned Perrinvale Volcanic Hosted Massive Sulphide (VHMS) Project in Western Australia.

Highlights:

  • A systematic soil and rock chip sampling approach identified 29 new areas of interest;

  • After follow-up fieldwork 17 of those areas and 5 of the original prospects are considered prospective and warrant further exploration;

  • Limited MLEM surveying has identified conductors worthy of drill testing at 3 new priority prospects; and

  • Malachite mineralisation (copper carbonate hydroxide) identified at Costa del Islas.

Metal Tiger is currently interested in 26,006,963 Cobre shares, representing approximately 16.62% of Cobre’s issued share capital. As announced on 15 April 2021, Metal Tiger will be interested in an additional 8,311,765 shares subject to shareholder approval of Metal Tiger’s participation in the Cobre Fundraise. In addition, the Company expects to be issued a further 445,368 new Cobre shares subject to certain conditions being met as announced on 15 December 2020. Assuming all further issuances occur, Metal Tiger would be interested in approximately 21% of Cobre Limited.

Links to Cobre’s announcement, released today, is set out below:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02479842-2A1353189?access_token=83ff96335c2d45a094df02a206a39ff4

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

Enquiries:

Michael McNeilly

(Chief Executive Officer)

Tel: +44 (0)20 3287 5349

Mark Potter

(Chief Investment Officer)

James Dance

James Harris

Robert Collins

Strand Hanson Limited (Nominated Adviser)

Tel +44 (0)20 7409 3494

Paul Shackleton

Steve Douglas

Arden Partners plc (Broker)

Tel: +44 (0)20 7614 5900

Gordon Poole

James Crothers

Rebecca Waterworth

Camarco (Financial PR)

Tel: +44 (0)20 3757 4980

Notes to Editors:

Metal Tiger PLC is admitted to the AIM market of the London Stock Exchange AIM Market ("AIM") and the ASX Market of the Australian Securities Exchange Market ("ASX") 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005195/en/

Contacts

Metal Tiger plc