Metal Tiger plc (AIM: MTR), the London Stock Exchange AIM listed investor in strategic natural resource opportunities, announces that it intends to commence a share buyback programme (the 'Programme') to buy back ordinary shares of 0.01p in the capital of the Company (the 'Shares') up to a maximum aggregate amount of 155,917,230 Shares (the 'Maximum Amount').

The Programme will be implemented by the Company in accordance with the general authority received by way of a shareholders' resolution passed at a general meeting of the Company held on 6 November 2019 and all Shares purchased will be acquired within the parameters as to price and volume specified in that authority.

The Company has entered into an agreement with its broker, Arden Partners plc ('Arden'), to carry out purchases of its Shares under the Programme on its behalf. The agreement provides Arden with authority to carry out market purchases under the Programme independently of the Company in certain circumstances (initially up to a value of GBP500,000).

The purpose of the Programme is to reduce the Company's share capital. The Board believes that the Programme may reduce the discount of the Company's share price to net asset value and provide more liquidity in the Company's shares (giving shareholders who do not wish to remain invested an orderly liquidity event).

The Programme will be carried out on the London Stock Exchange and will be effected within certain pre-set parameters, including the safe harbour provisions set out in the Market Abuse Regulation 596/2014 ('MAR'), the Commission Delegated Regulation (EU) 2016/1052 and the applicable laws and regulations of the London Stock Exchange. The Programme will be undertaken until the earlier of the Maximum Amount being repurchased or the Company's annual general meeting in 2020. Any Shares repurchased will be held as treasury shares in accordance with the provisions of the Companies Act 2006 and it is the intention of the Company to cancel such shares.

The Company will make further announcements in due course following the completion of any share repurchases.

At the time of this announcement, the number of Shares in issue in the Company is 1,559,172,297, of which nil are held in treasury. Accordingly, the total number of Shares with voting rights is 1,559,172,297.

There is no guarantee that the Programme will be implemented in full or that any Shares will be repurchased by the Company.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain and the Company confirms that it currently has no inside information.

Contact:

Michael McNeilly

Tel: +44 (0)20 7099 0738

Notes to Editors

Metal Tiger plc is admitted to the AIM market of the London Stock Exchange AIM Market ('AIM') with the trading code MTR and invests in high potential mineral projects with a base, precious and strategic metals focus.

The Company'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. Metal Tiger has two investment divisions: Direct Equities and Direct Projects.

The Direct Equities Division invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its 3.5% interest in Sandfire Resources NL (ASX: SFR). The Company also considers selective opportunities to invest in private natural resource companies, typically where there is an identifiable path to IPO. Through the trading of equities and warrants, Metal Tiger seeks to generate cash for investment in the Direct Projects Division.

The Direct Projects Division is focused on the development of its key project interests in Botswana, Spain and Thailand. In Botswana, Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited. In Spain, the Company has tungsten and gold interests in the highly mineralised Extremadura region. In Thailand, Metal Tiger has interests in two potentially near-production stage lead/zinc/silver mines as well as licences, applications and critical historical data covering antimony, copper, gold, lead, zinc and silver opportunities.

The Company actively assesses new investment opportunities on an on-going basis and has access to a diverse pipeline of new opportunities in the natural resources and mining sectors. For pipeline opportunities deemed sufficiently attractive, Metal Tiger may invest in the project or entity by buying publicly listed shares, by financing privately and/or by entering into a joint venture.

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