Red Tiger Reports Annual Filings

(expressed in US dollars except where noted as C$)

TORONTO, April 30, 2012 /CNW/ - Red Tiger Mining Inc.,

, (the 'Company' or 'Red Tiger') today reported that the audited Consolidated Financial Statements and Management's Discussion and Analysis report for the years ended December 31, 2011 and 2010 have been filed on SEDAR, www.sedar.com as well as on the Company's website www.redtigermining.com



The fourth quarter of 2011 saw an acceleration of the mine development and construction of the solvent extraction ('SX') and electro-winning ('EW') plant, as well as the related infrastructure at Luz del Cobre. Equipment deliveries were received as the construction continued. The largest single piece of equipment is the electrical rectifier which was delivered to the minesite in early January, 2012.



Mining commenced on November 22, 2011 and by the end of December, 71,800 tonnes of broken ore with an average grade of 0.82% copper had been stockpiled next to the crusher. Tonnes per day mined and waste stripping increased significantly in the first quarter of 2012, as has the rate of crushing and stacking of ore which now averages in excess of 5,000 tonnes per day. Crushing and stacking of the crushed ore commenced in February and irrigation of the first stacked cells commenced in April, after completion and testing of the lined storage ponds to hold the pregnant leach solution exiting from the leach pad. Leaching is in line with expectations and sufficient copper is in solution in the storage pond to start-up the extraction process.



Completion and commissioning of the SX-EW plants is slightly behind schedule, but is expected to be able to receive the pregnant leach solution shortly, with copper cathode production expected in a matter of one or two weeks.



The loss for 2011 before an adjustment for the change in value of derivative liabilities was $1.3 million compared to $3.3 million in 2010 when Luz del Cobre was not in development. The Company has 51.4 million warrants outstanding, exercisable at C$1.00. Using the Black Scholes method of calculating value, these warrants increased in value by US$9.7 million, as the market price of the Red Tiger shares increased from C$0.80 at the time of issue to C$1.17 at December 31, 2011. Under IFRS, because the warrants are exercisable in a currency other than the Company's reporting currency (US$), the value of the warrants is reported on the Balance Sheet as a liability, and the change in value is reported in the Statement of Loss. The result is that the net loss for 2011 is reported as $11 million compared to a loss of $3.4 million in 2010.



As the market price of Red Tiger shares dropped in the first quarter of 2012, more than the $9.7 million loss in 2011 will be reported as income resulting from the change in value of the derivative liabilities. There is no effect on income taxes or cash flow in either period. If the warrants are exercised or if the warrants expire unexercised, the then carried value liability will be added to shareholders' equity.



Thomas F. Utter, Dipl.-Geol, Dr. phil.nat., (Eurogeologist) acted as the Qualified Person, as defined in NI43-101, with respect to the disclosure of the scientific and technical information contained in this news release. Red Tiger is listed on the TSX Venture Exchange (symbol 'RMN'). Common shares outstanding 65,557,175.



This News Release contains forward-looking statements which are typically preceded by, followed by or including the words 'believes', 'expects', 'anticipates', 'estimates', 'intends', 'plans' or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions.



Neither TSXVenture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Red Tiger Mining Inc.

CONTACT: Red Tiger Mining Inc.

20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada

Fax: 416 367 3638



Dr. Thomas Utter

President and CEO

Tel.: +1 521 662 311 8839

thomasutter@gmx.com



Frank van de Water

CFO and Secretary

Tel.: 416 869 0772

fvandewater@on.aibn.com