OverviewTiger International Resources Inc. is a public company which is primarily engaged in exploration and development of mining properties. The Company is incorporated under the provision of the Province of British Columbia Company Act with its shares traded on the Canadian Venture Exchange under the code TGR.V.
Tiger International Resources Inc. is a resource company that has in the past been active in oil and gas production and development of petroleum assets, and mineral exploration in the particular endeavors of platinum group metals in Myanmar, gold and silver in the United States, Canada and Myanmar, base metals and petroleum in Canada, and diamonds in Australia. The present business of the company is the acquisition and exploration of resource properties through claiming, purchase or partnership with vendors. The company’s strategy is to locate advanced exploration properties where mineralization has been identified and where the investment of capital may advance the status of the property to the point of feasibility where a feasibility study can be conducted which may prove the property to be commercially viable. Chief PropertyEsperanza Project, Baguio Mines District, PhilippinesTiger has an active project in the Philippines, known as the Esperanza Gold Project where Pan Asia Exploration Services Inc., a Philippine Corporation, has entered into an agreement with Tiger International where Tiger will pay 100% of expenditure for the exploration of the property to earn 90% equity for so doing. Within six months of Tiger receiving a positive feasibility study on the property Tiger will pay US$1.50 to Pan Asia for each ounce of mineable gold identified in the feasibility study to a maximum of US$4 million. Reserves of gold have been identified on the property through prior exploration. Tiger learned that the property was an active gold mine prior to World War ll when the Japanese occupied the Philippines and mining ceased. Further work is necessary to prove that the deposit is economic. Tiger is proceeding on the expectation that the reserve is economic since mineralization has been identified. The dimension and grades of mineralization will be confirmed through an exploration program. The project could be drilled or trenched for further sampling. The agreement was signed between the vendor and Tiger in late 2003. Tiger did commence a work program in February 2004 on the project comprised of site inspection, data recovery and surveillance. Tiger will pull permits and commence an intensive geophysical and geochemical program and a diamond drilling program to determine deeper grades and dimension from which tonnages may be determined. An exemption from the watershed restriction that restricted mining on the property was obtained, clearing the way for further work although permits must be obtained in the normal way. The project lays on the side of a sloping valley in an area of large established gold and copper mines and known gold mineralization, with electricity, water and a rough road to the property, which is 20 kms from Baguio City in the north of the Philippines. Tiger intends to incorporate a Philippine subsidiary to facilitate operations in that country and aid in the permit process. Tiger has retained legal counsel to ensure compliance with local laws and protocol. Counsel has been requested to revise the Memorandum agreement with the vendor to ensure that full compliance with Philippine Law is carefully maintained. The vendor is hesitating signing the full agreement and the terms are being negotiated, thus no permits have been pulled for the Esperanza Project yet.
An additional project, named Honey Gold and Norman Copper Claims, has been entered into with a Philippine vendor named Oscar Ranario and his family. The claims are located in Surigao in the southern area of the Philippines, and this project lies in a known copper and gold belt with operating mines on either side of the project area. The vendor states that the eastern side of the claims is prospective for gold and the western side for copper, and has provided Tiger with sample data to support that opinion. The plan is to obtain a professional geological survey and sampling program to confirm the data, and to move forward accordingly. Tiger has 90% of this project. The vendor and Tiger entered into an MOU, and this has been expanded into a full agreement which is going to be registered with the appropriate government department in the Philippines, and Tiger management has just signed this agreement. Ian Cooper, Professional Geologist, of Brisbane, Australia, has been retained to conduct the work program for the joint Project highlights
Management
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