Mr. Brad Marwood reports

TIGER RESOURCES LIMITED - DECEMBER 2010 QUARTERLY ACTIVITIES REPORT

Tiger Resources Ltd. is providing an activity report for the December, 2010, quarter.

Kipoi copper project

(Tiger 60 per cent) Kipoi stage 1 development

The stage 1 development of the high-grade Kipoi copper project, located in the Democratic Republic of Congo's Katanga copper belt, comprises an open pit mining operation with a crushing and heavy media separation (HMS) plant. The plant will produce a concentrate product averaging 25 per cent copper which will be available for sale to local and export customers. Development activities progressed on time and within budget during the quarter.

Mining contract

Mining contractor MCK Mining SPRL (MCK) commenced mining operations during the quarter and has developed the Kipoi pit with ore exposed ready to feed the plant. During the quarter MCK also completed the access road, plant site earthworks, site establishment and equipment mobilization. A total of 240,000 tonnes of waste material were mined during the quarter. No ore mining was undertaken.

Plant construction and installation

During the quarter DRA Mineral Projects (Pty.) Ltd. completed the design, procurement and infrastructure requirements for the plant. The plant was assembled in Johannesburg, before being disassembled into modules for transport to site. Freighting of the plant components to Kipoi and site erection commenced during the quarter.

Owner's works

Significant progress was made with owner-managed works during the quarter:

• Refurbishment of the site-based mess and contractor facilities were completed;
• Mining department was established and managed the mining contractor;
• Heap leach pad and slimes dam construction commenced;
• Recruitment of operations personnel commenced;
• Fuel supply contract, catering and medical servicing contracts were finalized;
• The water supply dam was completed and filling commenced prior to the wet season.

Development schedule

The Kipoi stage 1 development continues to make good progress with commissioning planned to commence in March, 2011. All contractor and owner works are proceeding within scope, on time and within respective budgets.

Kipoi stage 2 development

Stage 2 SXEW development study

Tiger appointed ARCCON, an experienced engineering group based in Perth, to complete an initial study to define the scope and size of a conceptual stage 2 SXEW operation to produce LME-grade copper cathode at Kipoi.

Progress during the quarter included the completion of the life-of-mine plan schedule, plant design and sizing. Finalization of costing is expected to be completed during first-quarter 2011. Under current planning the SXEW facility would have a life exceeding 10 years with production scaling up to 50,000 tonnes per annum of copper metal.

Near-mine exploration at Kipoi

Exploration plans have been developed to test targets within the Kipoi mining lease that have potential to provide additional feed to the planned infrastructure. Tiger intends to commence drilling of these targets during the first quarter of 2011. The on-site sample preparation facility at Kipoi has been recommissioned and is currently in use for preparation of samples generated by exploration activities.

Lupoto project (100 per cent)

An air core program of 536 metres, RC drilling program of 2,821 m and diamond drilling program of 891 m was carried out at Lupoto during the December quarter.

This included an extension and infill drilling program at Sase Central, a prospect within the Lupoto licence area.

First assay results received include the following significant intersections:

• 48 metres at 2.11 per cent Cu intersected in hole SASRC001;
• 32 metres at 1.10 per cent Cu intersected in hole SASAC442;
• 10 metres at 2.10 per cent Cu intersected in hole SASAC443;
• 35 metres at 1.18 per cent Cu intersected in hole SASAC446;
• Holes SASRC001, SASAC442 and SASAC446 ended in mineralization.

The drilling program successfully extended the strike length and width of mineralization at Sase Central. Mineralization is now delineated over a strike length of 700 m and with a width extent of up to 300 m. Mineralization remains open along strike and at depth.

Receipt of final results of the drilling program has been delayed through holdups in clearing the samples through customs at the South African border. Assay results from the ALS Laboratory in Johannesburg are now expected to be received and available for release during February, 2011.

A maiden resource estimate for Sase Central is currently being estimated by geological resource consultants Cube Consulting and is scheduled for completion during the first quarter of 2011.

New targets were discovered through soil sampling. The new targets, Sase South and Mwana East, will be subject to further investigation in 2011.

Corporate

Cash on hand at the end of the quarter was $13.3-million (Australian) ($13.5-million (U.S.)).

The company's financial year-end has been changed to Dec. 31 to align reporting with its DRC subsidiaries. Tiger will therefore prepare an annual report for the six-month period to Dec. 31 and hold its next annual general meeting during May, 2011.

Background

The Kipoi project covers an area of 55 square kilometres and is located 75 kilometres north-northwest of the city of Lubumbashi in the Katangan province of the DRC. The project contains a 12-kilometre sequence of mineralized Roan sediments that host at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe. The company has reported JORC standard resources at three of the deposits. The principle deposit is Kipoi Central which contains a zone of high-grade copper mineralization within a much larger lower-grade global resource.

The company proposes a staged development at the Kipoi project. The high-grade zone of mineralization at Kipoi Central is proposed to be exploited during the stage 1 development. During the three-year life of stage 1 a total of 900,000 tonnes per annum of 7 per cent Cu is planned to be processed through a heavy media separation plant to produce the equivalent of 35,000 tonnes per annum of copper.

A study is under way for the development of a stage 2 SXEW facility at Kipoi that conceptually would have a life exceeding 10 years with production scaling up to 50,000 tonnes per annum of copper.

We seek Safe Harbor.