Corporate and Operational Update

3 December 2014

Tengri Resources

("Tengri" or the "Company')

Corporate and Operational Update

· Taldybulak deposit to become the focus of Tengri's Talas Valley Project Development in Kyrgyz Republic.

o Phase 1: Medium-scale open pit mining and processing of higher-grade, near-surface, gold-rich sheeted vein domain;

o Phase 2: Large scale mining and processing based on the global mineral resource with Andash deposit acting as a satellite mine feeding Taldybulak processing plant.

· Proposed Work Programme.

o 2015 Feasibility Study of Phase 1 Taldybulak;

o 2016 Detailed design, construct and commission of Phase 1 Taldybulak. First cash end 2016;

o 2017 Phase 1 Taldybulak full-scale operations. Phase 2 Bankable Feasibility Study.

· 2014 Taldybulak Drilling Programme Completed.

o 13 holes targeting higher-grade, near-surface, gold-rich sheeted vein domain;

o 2,029 metres of diamond core drilling completed.

· John Levings appointed to the board of Tengri, further to announcement dated 5 November, reflecting his leadership and commitment in advancing the Company's Talas Valley projects.

Tengri Resources (AIM: TEN), the mining exploration and development company focused on high quality gold-copper projects in Kyrgyz Republic, today provides a corporate update regarding board appointments and the refined operational focus for the coming calendar year.

Operational - Talas Valley

As previously announced, the Company commenced a 12 hole, 2,000m diamond drilling programme at Taldybulak immediately after listing on AIM. This drilling has been completed, achieving a total of 13 holes and 2,029 metres. Results to date confirm the existence of a near-surface and higher-grade gold sheeted-vein system within the project deposit. The results of 4 holes have been previously announced on 16 October with excellent grades and widths. The average grade encountered in the first four holes is 1.78 g/t Au and 0.28% Cu(1). Assay results from the remaining 9 holes are pending. 

The Company has been particularly pleased with the gold grades returned so far - which are 3.8 times higher than the global average grade of the Taldybulak deposit. This has led to a decision to prioritise the fast tracking of Taldybulak's development during 2015, with a view to completing a feasibility study on Phase 1 of the project by the year-end. In addition, the occurrence of coarse gold in some high-grade intervals may provide another opportunity to keep operating and capital costs low for Phase 1 of the Taldybulak project. Follow up "screened fire assay" tests on selected high-grade gold samples show that a large portion (at an average of 32% and up to 49%) of the gold is "coarse-grained" (greater than 75 micron).

Tengri benefits from significant historical data which will assist the asset to be fast tracked to production. SAMREC-compliant global mineral resources at Taldybulak stand at 6.73 million ounces of gold and 1.67 billion pounds of copper as per the following table:

Taldybulak Global Mineral Resource Estimate (SAMREC 2007)

A full summary of the mineral resource estimate is contained within the Company's Admissions Document published on 18-06-2014.

While prioritising the development of Taldybulak, Tengri will remain committed to continuing the community consultation processes at each of its projects.

The Taldybulak deposit is ten times larger than Andash in terms of contained metal and 23 times larger in terms of total tonnage. Independently, a potentially efficient cost effective solution may be for Andash to become a satellite mine to a central processing facility only 27 kilometres away at Taldybulak. This development scenario has the potential to extract significant operating synergies and cost efficiencies for the Company's Talas Valley mines. It also has the added benefits of reducing the development footprint at Andash so that no mill or residue storage facility will be required. In addition, the phased Taldybulak development plan takes the Andash project off the critical path of the Company's development timeline, allowing additional time to liaise with local communities working towards a solution that is beneficial to all parties concerned.

At Bashkol, further to the announcement made on 9 September 2014, the Company's exploration drilling and summer field programs have been completed. Assay results are pending and other geological and geophysical data are being compiled and interpreted. An update will be provided on the completion of this work.

(1) Using a 1 g/t gold equivalent cut off, where gold equivalent =  Au g/t x $/g Au + Cu % x $/% Cu. Spot metal prices on 28/11/14 were used in this calculation i.e. Au: US$1,184 per troy ounce and Cu: US$3.01 per pound

Corporate

The appointment of John Levings to the Board of Tengri reflects his continued important role in leading the exploration programmes conducted at the projects since the Company joined AIM on 14 July, 2014.

Mr. Levings has been a Director of Robust Resources, a major (87.3%) shareholder in Tengri, which was removed from the official list of the ASX on 17 November following its compulsory acquisition by Padiham Resources Pty Ltd - a company controlled by Droxford International and Stanhill Capital Partners.

John Levings, director of Tengri, said:

"I am very pleased to be invited to join the Tengri Board at such an exciting time for the Company. We have a portfolio of high-quality assets in the Talas Valley, which is part of the world class mineral province known as the Tien Shan Belt. Our 2014 exploration drilling results to date from Taldybulak are particularly positive and support a shift in strategy whereby Taldybulak becomes our flagship project.

The completion of a feasibility study next year on the higher-grade Phase 1 Taldybulak project underpins the plan to bring our potentially low-cost mines to production with a minimum of capital, time and risk."

An updated investor presentation can be found on the Company website at www.tengriresources.co.uk.  For any further information please contact:

Notes to Editors

Tengri Resources (AIM: TEN) is a mining exploration and development company focused on low-cost gold-copper projects in Central Asia.

The Company seeks to add portfolio value by applying a phased approach to project development. The Company is presently focused on Phase 1 of the Taldybulak deposit (TEN 100%), which will target development of a higher grade zone within the existing SAMREC compliant resources of 6.8Moz of gold and 1.66bnlb of copper. Tengri continues to advance the Andash Mining Project (TEN 100%) which has JORC compliant resources of 682koz of gold and 170Mlb of copper and the Bashkol project (TEN right to earn 70%), located 60km along strike from the producing Kumtor Gold Mine.

The Company listed on AIM in July, 2014. Tengri's board and management are highly experienced in Central Asia, with mining operational and financial career backgrounds.