National Strategic Mineral Supply Inc. and TGR agreement. News Release --- Tiger International Resources Inc. September 4, 2018 Tiger International Resources
Code TGR.TSX.V
US Code TGILF
Patric Barry, President of Tiger International Resources Inc (TGR.V) announces:
An agreement was signed on August 21, 2018, between National Strategic Mineral Supply Inc., (“NSMS”) and Tiger International Resources Inc., (Tiger) where NSMS and Tiger have formed a joint venture to perform a two pronged strategy of exploration rehabilitation of specific mining sites in Arizona, U.S.A.
The business plan is for NSMS, headed by Mr. Craig Wiita, to serve as the operator, and for Tiger to apply for specific tenements through a newly formed subsidiary corporation. Profit sharing will be 85% Tiger and 15% NSMS, and financing, where needed, to be provided by Tiger. Tiger will issue a stock option in Tiger’s common shares to Craig Wiita, subject to TSX Venture Exchange acceptance, for 100,000 shares at C$0.06 per share, such exercise to be on the basis of one share for every one US dollar of profit delivered to Tiger, such definition of profit to be set after all costs and pre-income tax.
The program commences with applications to the Bureau Of Land Management (BLM) to perform rehabilitation for specific exploration claims, the applications for both placer (surface rights) and lode (in situ minerals beneath the surface). NSMS then offers to the BLM to rehabilitate the surface areas at government expense so as to clear aged tailings from aged mines that have operated in these areas for a hundred years. The old miners would seek high grade gold, and would dump the remains. Tiger sees that these remains contain platinum group metals and rare earths, as well as gold and silver and associated metals. The plan is to clear the areas of tailings under a government program, and then to process those removed rocks as a normal mining operation would be washing and grinding and extraction of metals offsite. While it is early in the program, the parties intend to proceed rapidly by first filing claims for minerals over the intended areas and then proceeding with arrangements whereby surface rehabilitation will be performed. Net cash flow from rehabilitation efforts will be used to drill and explore the granted claims so as to prove up reserves with the purpose of opening new mines in this known area of mineralization. As required by Canadian Securities Regulations, Tiger will obtain a 43-101 property report over the described areas. Financing requirements are difficult to define at this stage since government grants are available for rehabilitation and so the effort might be self-financing. As the project advances we will advise shareholders.
For questions regarding this news release, please contact Patric Barry at
26981@att.net for information.