Sandfire Resources Update

BUS

Sandfire Resources Update

Metal Tiger plc

28 October 2020

Metal Tiger Plc

("Metal Tiger" or the "Company")

Sandfire Resources Update (ASX:SFR)

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to provide an update in relation to its investment in Sandfire Resources Limited (“Sandfire”). Sandfire has today released several announcements including its quarterly report.

Metal Tiger is currently interested in 6,316,990 Sandfire shares representing approximately 3.5% of Sandfire’s issued share capital. As announced on 31 July 2020, 2,609,887 of the Sandfire shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.

Links to the Sandfire announcements released today, which include an update on exploration activities in Botswana, can be found via the links below:

Sandfire September 2020 Quarterly Report Presentation:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02300064-6A1003687?access_token=83ff96335c2d45a094df02a206a39ff4

Quarterly Activities Report:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02300062-6A1003686?access_token=83ff96335c2d45a094df02a206a39ff4

Progress Report: USA and Botswana Development Projects Update:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02300060-6A1003685?access_token=83ff96335c2d45a094df02a206a39ff4

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

Enquiries:

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: Equity Investments and Project Investments.

Equity Investments invests in undervalued natural resource companies. The majority of its investments are listed on AIM, the TSX and the ASX, which includes its interest in Sandfire Resources Limited (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 for the Project Investments division.

Project Investments is focused on the development of its key project interests in Botswana, where Metal Tiger has a growing interest in the large and highly prospective Kalahari copper/silver belt through its interest in Kalahari Metals Limited.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005525/en/