Resignation of a Director

Tiger Resource Finance PLC
1 May 2002




             Tiger Resource Finance plc ('Tiger' or the 'Company')

                      Jeremy Metcalfe retires as Chairman


Tiger Resource Finance plc the international mining finance company announces
that its founding Chairman Jeremy Metcalfe has stepped down as Chairman and
Director of the Company following a reorganisation of the Board. Jeremy Metcalfe
is currently Chairman of Minmet plc ('MinMet') which heretofore managed Tiger,
and this move will enable him to spend more time on MinMet's expanding
exploration and production portfolio.

In January 2001 Tiger completed a fundraising which raised a total of STG£3.6m,
before expenses, from both public and institutional investors. The Company
changed its name from Crediton Minerals plc to Tiger Resource Finance plc and
transferred from OFEX to the Alternative Investment Market of the London Stock
Exchange on 23rd January 2001.

Under the terms of an agreement announced by the Company on 16th January 2002
MinMet is contracted to sell its entire shareholding in Tiger to Ronald Bruce
Rowan who, together with Colin Bird, have joined the Tiger Board. Bruce Rowan
has also been appointed as Director in charge of investment and strategy.
Following today's announcement, Bruce Rowan will be appointed Chairman of the
Company.

Commenting on his retirement from the Tiger Board Jeremy Metcalfe said, 'It is
very gratifying to be handing over stewardship to Bruce Rowan of such a healthy
company. Since 31st December 2001 the Tiger portfolio has grown both in value
and content with a net asset value, before tax, today exceeding STG£4m. Although
Mr Rowan will now be responsible for the day to day management of the Company
and investment decisions I am pleased to say that Michael Nolan, MinMet's CEO,
will remain on the Board as a non-executive Director. I believe the minerals
sector has tremendous potential and I am confident that the Company under the
new stewardship of Bruce Rowan will be able to make even faster progress'.

END



For further information:-


Bruce Rowan, Director                                        + 44 20 7486 3997

Colin Bird, Director                                         + 44 20 7590 8800

Michael Nolan, Director                                      + 353 1 661 3309



                      This information is provided by RNS
            The company news service from the London Stock Exchange