News Release -Tiger International Resources (TGR.V) July 22, 2016
Tiger International Resources Inc. Work Program Update
Recent political changes in the Philippines have impacted the mining industry in that country, and have affected Tiger Intemational's operations there, but we don't know to what extent or for how long.
Presidential terms are for a single 6 year term there, and the president seems to not like mining. But his reported media statements are confusing and conflicting and one should never make business decisions based on media reports.
What we do know is that he had a critic in a strong environmentalist who was critical of all forms of mining, but especially of large open pit style mining, so the president appointed her to
be the Secretary of Mining. Ithas been common practice to strip copper and nickel orebodies and truck the ore to the coast where ships would take it to China for processing, leaving behind the stripped area with no rehabilitation. lbis seems to be the practice that has offended the new administration. Her immediate act was to order closure of three nickel mines and then to
suspend all pennit processing and ordered staff to audit all mines and mining companies, taking them away from processing permit applications.
How does this impact our company? We received a letter from the Secretary ordering us to cease operations, as did every company with any form of pennit or license there. We complied and chose to lay off staff, continuing with a skeleton management crew. The renewal of EP006, which we anticipated would have been reissued a few weeks ago, is delayed by this order so we will await an outcome.
The government moves, while illogical since they effectively shut down the mining industry temporarily, is stated to allow the government to review every mine's operations. We cannot see how this can affect us long term because we plan to rehabilitate our project at the end ofits life, but we can't predict what the new government might do. Itis responsible that we keep shareholders apprised and will do so when we have some understanding and direction from the Secretary.
Any questions regarding this news release, please contact : Patric Barry
President, Tiger International Resources Inc.
E-Mail: [email protected] (949) 362.1600