Tiger to raise $715,725 in rights issue

Balcatta-based mineral explorer Tiger Resources Ltd aims to raise $715,725 through a non-renounceable rights issue to fund exploration of the company's tenements in the Democratic Republic of Congo.

The 71.5 million options, distributed on a basis of one option at 1c for every two shares held, will be exercisable at 45c each on or before 31 March 2008.

Tiger raised $6 million in July through private placements for exploration funding and working capital, which is a sufficient amount for the Company to carry out its planned exploration. Accordingly, funding for the Company's planned exploration will not be affected should no funds be raised under the Rights Issue.

Blakiston & Crabb are serving as solicitors to the issue, which is not underwritten.

The issue will open on October 6 and close on October 20.