New World Oil & Gas Investment Settlement Update

26 May 2015

Metal Tiger plc

("Metal Tiger" or the "Company")

New World Oil & Gas Investment Settlement Update

Metal Tiger (LON: MTR) the natural resources investing company, acquired on-market shares in New World Oil and Gas ("New World") (LON:NEW) on 29 April 2015 as announced via lodgement of a TR-1 Form on 30 April 2015 (due to Metal Tiger becoming a notifiable shareholder with 6.7%). Following share disposals Metal Tiger lodged a TR-1 form with New World on 12 May 2015 noting that Metal Tiger no longer held a notifiable position (minimum 3%) in New World. Metal Tiger notes the suspension of trading of New World shares (announced 18 May 2015) and the failure of New World to secure sufficient votes to pass the two resolutions of their EGM held 19 May 2015. Metal Tiger also notes various market commentaries regarding settlement problems with New World shares on the market.

In light of the market settlement problems, Metal Tiger provides the following update to shareholders regarding the delays it has encountered in relation to settlement of its own New World stock and the actions taken by Metal Tiger to protect its interests.

New World Oil and Gas Transactions Summary

Metal Tiger acquired 47,054,545 shares on-market on 29 April 2015 for a total consideration of £31,526.55. Metal Tiger sold a total of 28.7 million shares over the course of the 8th and 11th of May generating gross proceeds from disposals of £169,891.60 for the Company. At this time, all of the shares acquired on-market should have settled and been delivered in accordance with the written contract notes.

To date, the Company's retail stockbroker for the transactions has confirmed that only 2,904,572 shares (6.2%) of the 47,054,545 total shares acquired have been delivered to Metal Tiger's retail broking account. Thus, of the £169,891.60 disposal proceeds, only £17,243.53 has been released to Metal Tiger, reflecting the proportion of stock delivered and settled on the Company's retail stockbroking account.

Action Taken to Protect Metal Tiger's Interests

Metal Tiger has taken various steps over the past fortnight to protect its interests including the appointment of legal counsel with regard to both the payment of monies due to Metal Tiger from disposals made of New World shares, and to secure the receipt of the balance of its shares acquired on-market in New World.

Metal Tiger's two executive directors, Cameron Parry and Paul Johnson, attended the New World EGM held in Jersey on Tuesday 19 May 2015 as proxies for another shareholder as Metal Tiger was at the time unable to attend the meeting under its own shareholding due to the delays in stock settlement. During the meeting Cameron Parry and Paul Johnson were able to actively participate and put forth a series of questions to the New World CEO with regard to New World's historical performance, rationale behind the financing proposed and the structure of the financing proposal, and the forward plans for New World.

Cameron Parry CEO of Metal Tiger stated: "On 29 April 2015, Metal Tiger invested in an on-market trading opportunity that although relatively small for Metal Tiger in terms of pounds sterling invested, created a notifiable position in the investee, New World Oil and Gas Plc. Since that time Metal Tiger crystallised a significant return and still holds a quantum of New World shares. However there have been delays to date in Metal Tiger receiving the entirety of its crystallised return on investment and receipt of its stock in the Company's CREST account.

Metal Tiger's directors continue to take steps that the Board believes are in the best interests of Metal Tiger shareholders and protect Metal Tiger's interests. In relation to the New World investment, we have been unequivocally clear that any future financings by New World should reflect the evident market demand for New World stock, and also the fact that the share price of New World has in recent weeks traded considerably higher than the previously proposed placing price of 0.055p - itself priced at a 42% discount to the then market price of 0.095p.

Irrespective of delays relating to the Company's New World investment, Metal Tiger remains fully funded to carry out its activities in relation to its direct project investments in Spain, Thailand and Tanzania, and the Company still holds significant equity stakes in Kibo Mining Plc, Eurasia Mining Plc and Ariana Resources Plc, together with a number of non-notifiable positions in other AIM quoted entities. We look forward to providing updates on various fronts in due course."

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

Notes to Editors:

Metal Tiger Plc is a natural resources focused investing company quoted on the London Stock Exchange AIM Market ("AIM") with the trading code MTR and two investment divisions, Direct Equities and Direct Projects.

The Direct Equities division invests in quoted natural resource explorers and developers, with a combination of shares and warrants providing a potential non-debt financing instrument and enhanced return potential.

The Direct Projects division invests in operational mineral exploration projects with current investments in Spanish Gold & Tungsten, Thai Gold, Copper & Antimony, and Tanzanian Gold and Uranium. The Direct Projects investment division also has working collaborations to identify new investment opportunities in Russia (platinum focus) and Turkey (gold focus), in association with experienced in-country partners.

Metal Tiger'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 timed to coincide where possible, with a cyclical recovery in the exploration and mining markets.