Mr. Robert Wunder reports

RED TIGER REPORTS Q2 2014 RESULTS

Red Tiger Mining Inc. is releasing its financial and operating results for the three and six months ended June 30, 2014 (figures expressed in U.S. dollars, except where noted). This news release should be read in conjunction with the company's unaudited financial statements for the three and six months ended June 30, 2014, and management's discussion and analysis (MD&A) for the corresponding period, available on the company's website and on SEDAR.

Second quarter highlights:

• Comex grade 1 copper cathodes production of 1,812 tonnes for the three months ended June 30, 2014;
• Copper sales of $12,466,706 for the three months ended June 30, 2014, at an average realized price of $3.12 per pound;
• Total cash costs per copper pound of $1.65 and average realized margin of $1.47 per pound for the three months ended June 30, 2014;
• Net earnings of $144,871 or nil per share for the three months ended June 30, 2014;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $5,349,374 or adjusted EBITDA per share of five cents for the three months ended June 30, 2014;
• Cash of $2,289,449 as at June 30, 2014.

First-half highlights:

• Comex grade 1 copper cathodes production of 3,431 tonnes for the six months ended June 30, 2014;
• Copper sales of $23,422,405 for the six months ended June 30, 2014, at an average realized price of $3.10 per pound;
• Total cash costs per copper pound of $1.50 and average realized margin of $1.60 per pound for the six months ended June 30, 2014;
• Net earnings of $85,411 or nil per share for the six months ended June 30, 2014;
• Adjusted EBITDA of $9,835,484 or adjusted EBITDA per share of 10 cents for the six months ended June 30, 2014;
• Cash of $2,289,449 as at June 30, 2014.

Subsequent to June 30, 2014, events

On May 14, 2014, the Ontario Securities Commission issued a management cease trade order (MCTO), as a result of the corporation not filing its audited financial statements for the year ended Dec. 31, 2013, and the management's discussion and analysis relating to the audited annual financial statements for the year ended Dec. 31, 2013, within the prescribed period. The MCTO imposed restrictions on trading in the corporation's securities by its chief executive officer, Robert Wunder, and its chief financial officer, David Lurie. On July 31, 2014, the company filed is audited financial statements for the year ended Dec. 31, 2013, the unaudited financial statements for the three months ended March 31, 2014, and MD&A for the corresponding periods. On Aug. 6, 2014, the MCTO expired.

Under the DB loan agreement, the company was in breach of the loan covenant that requires the company to provide DB the audited consolidated financial statements for the year ended Dec. 31, 2013, and the condensed interim consolidated financial statements for the three-month period ended March 31, 2014. Under the loan agreement, the company is required to file the audited consolidated financial statements within 120 days of year-end and the condensed interim consolidated financial statements within 60 days of quarter-end. As a result, the company obtained a waiver from DB, which extended the delivery date of filing the audited consolidated financial statements for the year ended Dec. 31, 2013, to July 31, 2014, and the condensed interim consolidated financial statements for the three-month period ended March 31, 2014, to Aug. 31, 2014. On July 31, 2014, the company provided DB with the audited consolidated financial statements for the year ended Dec. 31, 2013, and the condensed interim consolidated financial statements for the three-month period ended March 31, 2014.

On Aug. 6, 2014, the company received a follow-up demand letter from Unique Goals, requesting payment of principal and interest on the September, 2012, shareholder loan be paid immediately. Unique Goals had previously sent a demand letter on Aug. 30, 2013, requesting payment of principal and interest to be paid immediately. The terms and conditions in the follow-up letter have not changed from the original letter received on Aug. 30, 2013.

On Aug. 8, 2014, the company granted options to the chief executive officer of the company to purchase two million common shares of the company, at a strike price of 18 cents and having a term of five years.

On Aug. 18, 2014, the company granted options to certain directors, officers and employees to purchase 1,865,000 common shares of the company, at a strike price of 18 cents and having a term of five years.

Restatement

The company has reassessed the accounting for its derivative financial instruments, relating to the copper collar swap derivative, and copper call option derivative and derivative asset. The company had previously not recorded the fair value of these derivative financial instruments for the three months ended March 31, 2013. The company also had previously not recorded the fair value of the derivative asset for the three and six months ended June 30, 2013, and the three and nine months ended Sept. 30, 2013. As a result, the company's consolidated statement of financial position, and consolidated statement of operations and comprehensive earnings (loss), did not reflect the appropriate fair value liability and gains (losses) for the related periods. This has been corrected retrospectively in accordance with IAS 8, accounting policies, changes in accounting estimates and errors, resulting in the adjustment of prior-year financial information.

On Sept. 30, 2013, the company reassessed the timeline to repay the principal and cash interest to Gerald Metals. As of Dec. 31, 2012, management had estimated that the repayment would occur on June 30, 2014, however, after reviewing the company's estimated future monthly cash flows, it has determined that the repayment of principal debt and cash interest will occur on May 31, 2016, one month after the DB loan is repaid, at which point the Gerald Metals debt is no longer subordinated to the DB loan. As a result, the company's consolidated statement of financial position, and consolidated statement of operations and comprehensive earnings (loss), did not reflect the appropriate Gerald Metals loan liability and gains (losses) for the three and nine months ended Sept. 30, 2013. This has been corrected retrospectively in accordance with IAS 8, accounting policies, changes in accounting estimates and errors, resulting in the adjustment of prior-year financial information.

The company had incorrectly capitalized certain expenditures during the three and six months ended June 30, 2013. As a result, the company's consolidated statement of financial position, and consolidated statement of operations and comprehensive earnings (loss), did not reflect the appropriate carrying values and gains (losses) for the three and six months ended June 30, 2013. This has been corrected retrospectively in accordance with IAS 8, accounting policies, changes in accounting estimates and errors, resulting in the adjustment of prior-year financial information.

On declaring commercial production on July 1, 2013, the company had incorrectly capitalized certain expenditures during the three and nine months ended Sept. 30, 2013, and adjusted the inventory recovery rates from 78 per cent to 75 per cent as at June 30, 2013, and Sept. 30, 2013, which resulted in restatement of accounting for inventory accounts. As a result, the company's consolidated statement of financial position, and consolidated statement of operations and comprehensive earnings (loss), did not reflect the appropriate carrying values and gains (losses) for the three and nine months ended Sept. 30, 2013. This has been corrected retrospectively in accordance with IAS 8, accounting policies, changes in accounting estimates and errors, resulting in the adjustment of prior-year financial information.

                           SELECTED OPERATIONAL AND FINANCIAL INFORMATION

                                                 Second        First       Fourth       Third      Second       First
                                                quarter      quarter      quarter     quarter     quarter     quarter
                                                of 2014      of 2014      of 2013     of 2013     of 2013     of 2013
Operating results  
Mining  
Ore mined (tonnes)                              283,480      331,465      293,355     248,342     230,432     185,742  
Waste rock mined and removed (tonnes)         1,343,687    1,297,719      997,378   1,333,793   1,047,433     821,973  
Total mined (tonnes)                          1,627,167    1,629,184    1,290,733   1,582,135   1,277,865   1,007,715
Waste-to-ore ratio                                  4.7          3.9          3.4         5.4         4.5         4.4
Average grade of mined ore (total copper)          1.16%        0.91%        0.84%       0.96%       1.25%       0.84%
Crushing and stacking                                                                                      
Ore crushed and stacked (tonnes)                279,970      319,457      292,329     241,599     230,326     181,992
Average grade of stacked ore (total copper)        1.29%        1.03%        0.97%       0.96%       1.50%       0.99%
Copper cathodes produced (tonnes)                 1,812        1,619        1,784       1,536       1,108         949
Financial results    
Copper sales                                $12,466,706  $10,955,699  $12,884,804 $10,990,682           -           -
Production costs                             $6,155,323   $4,058,486   $6,861,256  $2,329,048           -           -
Net earnings (loss)                            $144,871     $(59,460) $(5,121,019) $3,014,042   $(350,792) $1,464,345
Total cash costs per copper pound ($/pound)        1.65         1.33         1.78        1.12           -           -
Average realized price ($/pound)                   3.12         3.07         3.28        3.24           -           -
Average realized margin ($/pound)                  1.47         1.74         1.50        2.12           -           -

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