Strategic Update

Metal Tiger plc

("Metal Tiger" or the "Company")

Strategic Update

The Board of Metal Tiger is today providing an update on progress to date and summarising key elements of their strategic plans for the Company.

Administrative progress

Since the announcement of the £400,000 fundraising on 21 May 2014, and the subsequent shareholders' approval at the general meeting of the Company held on 16 June 2014, the Company has been working on the process of transition from the management and direction of Brady Exploration plc into the new Board and objectives of Metal Tiger plc. Since 16 June 2014, Metal Tiger has dealt with various administrative matters as previously announced including:

- Change of Company name and associated rebranding including corporate documentation and website (www.metaltigerplc.com);

- Embedding the new management team and setting appropriate incentivisation to closely align shareholder and management interests;

- Negotiation and settlement of the vast majority of the Company's historical creditors, including the outstanding £60,000 loan with Paternoster Resources plc (the majority of which was satisfied through the issue of new ordinary shares in Metal Tiger as detailed in the announcement made by Metal Tiger on 16 July 2014);

- Handling of outstanding finance and plc operational matters, including a change of registered office; and

- Review of company structure and expenditure.

Vision

Metal Tiger is ambitious in its approach and looks to invest in opportunities where the Company can add distinct value and, crucially, increase the likelihood of an investment's commercial success. Metal Tiger intends to engage with a number of prospective opportunities in the metals exploration, development and production sectors and use these opportunities to leverage material organic and acquisitive growth, for the benefit of shareholders.

Investment guidelines

Through the historic work of Black Star Gold Pty Ltd and direct contacts of the Board, Metal Tiger has access to numerous prospective mineral projects. The sector's decline since the highs of 2010 and 2011 has increased the number, type and attractiveness of opportunities available, some of which are now able to be considered on more attractive commercial terms than previously and include the following features:

- Deal structures appropriate for Metal Tiger, namely, limited up-front cash commitment with future deferred consideration payment terms linked to project commercial viability;

- Project business plans already established, but capable of being tailored to meet company resources and strategic objectives;

- Clear project opportunities that can be communicated to, and understood by, investors, stakeholders and the wider market.

Commodities focus

Metal Tiger is interested in pursuing two main commodity product groups at this time: precious metals and strategic metals. Recognising the extent of financial uncertainty still existing around the world, Metal Tiger considers gold to be of primary interest going forward. Metal Tiger also notes the importance of various high demand-v-supply metals, and most particularly those metals deemed strategic at a government or industry level including, but not limited to: tungsten, molybdenum, tin and lithium.

Risk Management

In line with its stated investing policy, Metal Tiger intends to invest in countries where the Company understands the key operational risks or where it is able to integrate with a trusted local team who are able to provide reliable information in this regard. Metal Tiger's primary focus is South East Asia, however there are many attractive opportunities in other regions that Metal Tiger intends to investigate. In all cases appropriate due diligence shall be undertaken.

Metal Tiger aims to balance single opportunity dependency with the dilutive impact of too many opportunities. The Board believes, at Metal Tiger's stage in development, measured diversification is the optimal approach.

Funding strategy

Corporate and project financing is expected to be staged. The recent refinancing was almost entirely raised through direct contacts of the Board and provided Metal Tiger with sufficient funds for in excess of 12 months when applying sensible cash burn assumptions. Metal Tiger believes that having access to a number of financing avenues limits over-dependence on any one route which can lead to difficulties in a constrained mineral resource equity environment. 

Metal Tiger is looking to engage with opportunities in minerals exploration, development and production, which the Company would define as follows:

- Exploration being the search for potentially commercial precious metal deposits.

- Development being the assessment and transition into production of commercial metal deposits. 

- Production being the generation of revenue and profit margin from existing mines, where product is available from mining and where applicable mining licences are already in place. That mining should take place in a secure jurisdiction where profits can be identified, converted to cash and secured for the company and its stakeholders under reasonable regulatory, royalty and tax conditions.

Metal Tiger will be driven towards the goal of self-financed operations which the Board believes is an increasingly attractive status. Any company able to access reasonable profitable production can move toward the goal of self-financed operations. This can occur on a stand-alone basis, but is further assisted if the cash burn element of the business model (i.e. the exploration and development phases) are supported by joint ventures or similar commercial partnerships. Metal Tiger will consider such joint ventures or commercial partnerships if they are considered to be in the best interests of the Company and its shareholders.

Management

The Board of Metal Tiger currently comprises three directors that provide a suitable mix of public company experience and business acumen. It is intended that the Board will be further strengthened in due course as incoming interests are identified over the coming weeks and months.

Notice of Interim Results

The Company intends to release its interim results for the six months ended 30 June 2014 in the week commencing 22 September 2014.

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