Regulatory Announcement of Metal Tiger plc in UK: Completion of Investment in Sandfire Resources Limited

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LONDON–(COMMERCIAL THREAD) –

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Finalization of the investment in Sandfire Resources Limited

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resource opportunities, is pleased to announce that, following the September 27, 2021 announcement , it finalized its investment in the rights of use of Sandfire Resources Limited. (“Sand fire”). Metal Tiger subscribed for and received 3,300,690 new fully paid Sandfire common shares (“Sandfire Shares”) at a total cost of A $ 17,823,726.

Metal Tiger funded this in part through the sale of 1,051,990 Sandfire shares at an average price of AUD 5.22 per Sandfire share, existing cash and entering into a margin loan facility agreement of AUD 9,000,000 over 12 months with an agent of SC Lowy Primary Investments Ltd. , which is secured by 4,714,286 Sandfire Shares held under a Tripartite Sponsorship Deed with an Australian Broker (the “Margin Loan Facility”).

Summary of key terms of the margin loan facility:

  • Interest rate of 10% per annum (rising to 15% in the event of default) from October 4, 2021, payable semi-annually (i.e. 6 and 12 months thereafter).

  • Possibility of extending for a year, for a small fee.

  • Provides Metal Tiger with the ability to release collateral under the margin loan facility in the event that coverage exceeds 3.5 times the then outstanding loan amount plus accrued interest.

  • Metal Tiger has the option of freeing up cash by selling the Sandfire shares which provide security for the margin loan facility, over a period of 5 trading days, with a total value of at least A $ 1,000,000 at the time. when the transaction instructions are given, and provided that the coverage exceeds the maintenance levels of the minimum security coverage on the outstanding loan amount plus accrued interest.

  • Metal Tiger may affect proceeds from any sale to:

    • Pay and repay in full all amounts payable under the Margin Loan Facility; Where

    • As a prepayment of the amount outstanding under the Margin Loan Facility, to the extent that, following such prepayment, the value of the collateral is at least the multiple of the outstanding loan amount plus the accrued interest as it was before the sales instructions were given; and

    • Any surplus after such application will be returned to Metal Tiger.

  • Establishment fee of A $ 300,000 and arranger fee of A $ 50,000.

  • The agreement is subject to levels of continued security coverage and to levels of margin deemed commercially acceptable and standard for a transaction of this nature.

  • Metal Tiger retains rights to all commercial dividends received from Sandfire.

Following the completion of this investment, Metal Tiger is currently interested in 8,462,057 Sandfire shares representing approximately 2.4% of the issued share capital of Sandfire (post institutional increase). Of this stake, 2,842,667 Sandfire shares are subject to an equity derivative financing agreement with a global investment bank.

Michael McNeilly, Managing Director of Metal Tiger, commented:

“The margin lending facility allows Metal Tiger to maintain leverage over any potential rise in Sandfire over an extended period, with what the board considers an appropriate level of risk, through strong liquidity rights over the guaranteed actions. I would like to express my gratitude to Adrian Bock, Chief Financial Officer of Metal Tiger, without whom securing the margin loan facility would not have been possible. The conclusion of such a financing agreement in such a short timeframe is an important achievement. “

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No. 596/2014 and has been announced in accordance with the Company’s obligations under Article 17 of this Regulation. .

For more information about the Company, visit: www.metaltigerplc.com

Requests:

Michael mcneilly

(Chief Executive Officer)

Phone: +44 (0) 20 3287 5349

Marc Potter

(Director of Investments)

James dancing

James harris

Robert collins

Strand Hanson Limited (appointed advisor)

Phone +44 (0) 20 7409 3494

Paul shackleton

Steve douglas

Arden Partners plc (Broker)

Phone: +44 (0) 20 7614 5900

Gordon poole

James crother

Rebecca waterworth

Camarco (Financial PR)

Phone: +44 (0) 20 3757 4980

Notes to Editors:

Metal Tiger PLC is listed on the AIM market of the London Stock Exchange AIM Market (“AIM”) and on the ASX market of the Australian Securities Exchange Market (“ASX”) with the trading code MTR and invests in mining projects at strong potential with a focus on base, precious and strategic metals.

The Company’s objective is to provide a high return to shareholders by investing in significantly undervalued and / or high potential opportunities in the mining exploration and development industry. 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, TSX and ASX, which includes its stake in Sandfire Resources Limited (ASX: SFR). The Company is also considering selective opportunities to invest in private natural resource companies, generally where there is an identifiable path to the IPO. Through the trading of stocks and warrants, Metal Tiger seeks to generate liquidity for the investment of the Project Investments division.

Project investments is focused on developing its key project interests in Botswana, where Metal Tiger has a growing interest in the vast and highly promising Kalahari Copper / Silver Belt through its stake in Kalahari Metals Limited.

The Company is actively evaluating new investment opportunities on an ongoing 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 purchasing publicly traded shares, privately financing and / or establishing a joint venture.

Category code: MSCU

Sequence number: 747669

Reception time (offset from UTC): 20211005T084906 + 0100

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