Tiger Resources Limited - September 2011 Quarterly Activities Report

Not for Distribution to United States Newswire Services or for Dissemination in the United States

ASX Code: TGS

TSX Code: TGS

PERTH, Western Australia, Oct. 31, 2011 /CNW/ - Tiger Resources Limited

HIGHLIGHTS

NOTE:   All references in this report are to US Dollars, unless otherwise indicated.

Kipoi Copper Project

        --  Kipoi Stage 1 - Heavy Media Separation (HMS) operations:
      o Ore processed - 172,306 tonnes
      o Concentrate produced - 24,809 tonnes
      o Copper in concentrate produced - 5,133 tonnes
      o Operating cost - $0.68/lb
        --  Kipoi Stage 2 - Solvent Extraction Electrowinning (SXEW)
            Scoping Study:
      o Average annual production over Life of Mine (LOM) of 42,350t LME
        grade A copper cathode
      o Operating cost of $0.63/lb for the first three years (average LOM
        $0.92/lb)
      o Capital cost to first production of $151m
      o After-tax NPV (11% discount rate) and IRR of $272m and 48%
      o Fully funded from Stage 1 free cashflow, with payback in 15 months

Lupoto Copper Project

        --  Exploration drilling completed during the quarter at:
      o Mwana East - 5,106m Air Core (AC)
      o Kapampala - 1,380m AC

Corporate

        --  Cash and receivables of $6.8m at the end of the quarter
        --  Tiger included in the S&P ASX 300 Index from 17 September 2011

Tiger Resources Limited

CONTACT: Office Address: Level 1, 1152 Hay St West Perth, WA 6005

PO Box 379 West Perth WA 6872, Australia

Phone: 61 (0)8 6188 2000 Fax: 61 (0)8 6188 2099

Email: tiger@tigerez.com Web: www.tigerresources.com.au