Tiger Royalties and investments Plc (AIM:TIR) is pleased to provide the following update on African Pioneer PLC ("African Pioneer" or "APP"), which having identified suitable exploration assets in the mining sector based in Zambia, Namibia and Botswana, is now looking to take advantage of healthier resource markets to acquire these assets and list African Pioneer on the Official List and on the London Stock Exchange's Main Market for listed securities (the "Standard Listing") in conjunction with a placing to raise approximately £1.75 million. In conjunction with the proposed Standard Listing African Pioneer will be conducting a placing to raise approximately £1.75 million (the "Placing"). Additionally, £100,000 of Tiger's current outstanding loan to African Pioneer will be converted into APP's Ordinary Shares on Standard Listing (together the "Transaction").