Received by email:
File: Press Release July 28, 2011.doc
Press Release - 43-101 Report - Esperanza Gold Project (Expa 0006)
July 28, 2011
Patric Barry reports: As a result of a review by the British Columbia Securities Commission we are issuing the follow
--->ing news release to clarify our disclosure:
The 43-101 report dated May 28, 2011, and filed on SEDAR on July 25th, 2011, may have some elements which are not 43-1
--->01 compliant under the new rules that were implemented on July 1st, 2011, and that it should not be relied upon, and t
--->hat the company will arrange for the report to be revised and filed on SEDAR.
The British Columbia Securities Commission has identified the following areas of interest, namely:
Neither the current author, Jaime C. Zafra, nor the previous author, Ian S.
Cooper, appear to be qualified persons, as currently defined in NI 43-101.
In particular, they do not have a foreign professional membership
designation that meets the test in sub (e) of the definition because the
MAusIMM designation is no longer accepted under NI 43-101.
b) Mr. Zafra does not appear to be independent, based on his relationship
with the property vendor and his shareholdings.
c) The Company did not file the certificates of qualified person required by
section 8.1(2) of NI 43-101.
d) The Company did not file the consents of qualified persons required by
section 8.3(1) of NI 43-101.
e) The Report appears to disclose historical estimates as exploration targets
without providing the information required by either section 2.4 or section 2.3(2) of NI 43-101.
f) The Report attributes statements and opinions to Mr. Cooper even though
he is not an author and has not signed the Report or provided certificates
and consents.
Tiger International Resources management will travel to the Philippines this week for discussion with the author of th
--->is report from which we anticipate modification of the report. The Securities Commission relies in some of the areas o
--->utlined above on the change in Canadian Securities Regulators rules on July 1st, 2011, although the report was signed
--->on May 28, 2011. Since a major change to these rules regards the designation of a Qualified Person the Company underst
--->ands that should the author of the report become a Fellow of the Australian Institute of Metals and Metallurgy, upgrad
--->ed from his prior status as a Member, that this will bring his qualification into compliance with the new regulations.
---> The Company will discuss this with the author. Regarding the independence of the author, the Company states that the
--->author is an independent contractor and meets the requirements that he is independent, that he holds no beneficial int
--->erest in the Company or its subsidiary other than his responsibility as a contractor, and management plans to further
---> discuss this aspect with the Commission at a later date.
Questions pertaining to this news release may be directed to Patric Barry, President of Tiger International Resources,
---> at (949) 362.1600.
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