Results

Tiger Resource Finance PLC
09 August 2005

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

             Interim Results for the six months ended 30 June 2005.



Chairman's Statement

Highlights:


  • Net Asset Value per share 4.32p

  • Total assets of £9.4M at 30 June 2005



NAV @ 30/06/05         NAV @ 30/06/04         NAV @ 31/12/04

    4.32p                  2.65p                  4.15p



The six months ended 30 June 2005 produced a net profit of £244,620 compared to
a loss of £335,235 for the six months to 30 June 2004. At the end of the half
year period the Net Asset Value (NAV) was 4.32p compared to 2.65p at 30 June
2004 and 4.15p on 31 December 2004. This represents an increase of 63% compared
to the NAV at 30 June 2004. The NAV is based on an increase in the Company's
total assets of £3.1M to £9.4M since 30 June 2004.

The resource sector has enjoyed a very buoyant first half with record new
listings and secondary placings. There are indications of slow down and
consolidation which we feel will prevail until late autumn. We anticipate a
further strong market thereafter based on China and Far East metal demand. The
Board of Tiger is taking a cautious view to new investment in the light of the
enormous volume of product currently available for investment.

We ventured into the oil and gas sector making two investments of 9M shares in
Nautical Petroleum plc and 26.9M shares in Ascent Resources plc spread over the
latter half of 2004 and in the current six month period. These investments are
showing gains of £0.9M (an increase of 525%) and £1.1M (an increase of 248%)
respectively at 30 June 2005.

The Board have shareholder permission to buy-back the Company's own shares
although no buy-backs were made during the current period. This situation is
being continually monitored.

We are confident that increased shareholder value will be maintained in the
coming months and that the Company's NAV growth will we be sustained.



Bruce Rowan

Chairman

9 August 2005


Portfolio Holdings as at 30 June 2005


Investments                      Number        Cost   Valuation       Number   Valuation
                             30/06/2005  30/06/2005  30/06/2005   30/06/2004  30/06/2004
                                                  £           £                        £

African Eagle Resource Plc    1,241,274     112,264     226,514    1,241,274     232,100

Alamos Gold Inc.                106,293      27,610     201,095      106,293      85,784

Ascent Resources Plc         26,895,604     425,000   1,479,258            -           -

Cambrian Mining Plc                   -           -           -    1,350,000     664,625

Formation Capital Corp        2,025,000     207,043     246,284    2,025,000     441,921

Franconia Minerals Corp         333,333      45,432      46,667    1,666,667      68,750
(OFEX)

Franconia Minerals Corp         625,000     107,562      97,128            -           -
(TSE)

Gold Fields Ltd                  10,500      32,759      66,564       10,500      61,715

Minmet Plc                   17,471,488     241,135     246,348   17,471,488     541,616

Nautical Petroleum Plc        9,000,000     180,000   1,125,000            -           -

Pacific North West Corp         566,500     107,682     102,072      566,500     139,957

Ridge Mining Plc                100,000     178,477      37,000      100,000      52,000
                                                                               
River Diamonds Plc            8,144,207     100,000     183,245    6,666,666     191,667

Sunrise Diamonds Plc            665,000       6,650      16,625            -           -

Tertiary Minerals Plc         1,330,000     119,700      76,475    1,330,000     136,325

Fair value of warrants       16,010,302           -     110,989   15,516,667     458,792

MIT Ventures Corp loan                -      40,000      40,000            -      40,000
note

                                          1,931,314   4,301,264                3,095,252



PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30 JUNE 2005
                                                                         (Unaudited)       (Unaudited)         (Audited)
                                                                          Six months        Six months              Year
                                                                               ended             ended             ended
                                                                          30 June 05        30 June 04         31 Dec 04
                                                                                   £                 £                 £
Administrative expenses                                                    (120,403)         (123,778)         (332,892)

                                                                        ------------      ------------        ----------
OPERATING LOSS                                                             (120,403)         (123,778)         (332,892)
Profit/(loss) of fixed asset investments                                     298,958         (270,961)           340,014
Other operating income                                                           264             4,091             8,190
Interest receivable                                                          114,801            55,413           134,048

                                                                         -----------        ----------         ---------
PROFIT/(LOSS) ON ORDINARY ACTIVITIES                                         293,620         (335,235)           149,360
BEFORE TAXATION
Tax on profit on ordinary activities                                        (49,000)                 -            65,374

                                                                         -----------        ----------        ----------
PROFIT/(LOSS) ON ORDINARY ACTIVITIES AFTER TAXATION                          244,620         (335,235)           214,734
Basic earnings/(loss) per share                                                0.10p           (0.14p)             0.09p
Diluted earnings/(loss) per share                                              0.10p           (0.13p)             0.09p


STATEMENT OF TOTAL REALISED GAINS AND LOSSES FOR THE SIX MONTHS ENDED 30 JUNE 2005

                                                                       (Unaudited)         (Unaudited)         (Audited)
                                                                        30 June 05          30 June 04         31 Dec 04
                                                                                 £                   £                 £
Profit/(loss) for the period                                               244,620           (335,235)           214,734
Unrealised gains on fixed asset investments                              1,055,478             191,754         3,100,122
Unrealised losses on fixed asset investments                             (659,003)           (567,505)         (655,545)
Tax on gains on fixed asset investments                                  (286,000)           (154,000)         (369,209)
                                                                     -------------        ------------      ------------
Total recognised gains/(losses)                                            355,095           (864,986)         2,290,102

                                                                    --------------        ------------      ------------


BALANCE SHEET AT 30 JUNE 2005
                                                                        (Unaudited)        (Unaudited)         (Audited)
                                                                         30 June 05         30 June 04         31 Dec 04
                                                                                  £                  £                 £
FIXED ASSETS
Financial assets
       Quoted investments - at market value                               4,301,264          3,095,251         5,732,891

                                                                       ------------       ------------      ------------
CURRENT ASSETS
       Debtors                                                               25,632             16,140            11,755
       Cash at bank and in hand                                           5,815,356          3,672,937         3,732,178

                                                                      -------------       ------------      ------------
                                                                          5,840,988          3,689,077         3,743,933
CREDITORS
       Amounts falling due within one year                                (756,794)          (534,270)         (446,461)

                                                                       ------------        -----------       -----------
NET CURRENT ASSETS                                                        5,084,194          3,154,807         3,297,472

                                                                       ------------        -----------      ------------
TOTAL ASSETS LESS CURRENT LIABILITIES                                     9,385,458          6,250,058         9,030,363

                                                                       ============        ===========      ============
CAPITAL AND RESERVES
Called up share capital                                                   2,358,819          2,358,819         2,358,819
Share premium account                                                     1,554,856          1,554,856         1,554,856
Revaluation reserve account                                               2,369,953          1,583,150         4,008,228
Profit and loss account                                                   3,101,830            753,233         1,108,460
                                                                       ------------        -----------      ------------
SHAREHOLDERS FUNDS                                                        9,385,458          6,250,058         9,030,363

                                                                       ============        ===========      ============

 Interim Report - Notes

  1    The information relating to the six-month periods ended 30 June 2005 
       and 30 June 2004 is unaudited. The information relating to the year ended 
       31 December 2004 is extracted from the audited accounts of the company
       which have been filed at companies House and on which the auditors issued 
       an unqualified report.

  2    The above financial information does not constitute statutory accounts 
       within the meaning of section 240 of the Companies Act 1985.

  3    Earnings/Losses per ordinary share included in the Profit and Loss 
       statement is based on the weighted average number of shares of 
       235,881,939. The NAV calculation is based on the total number of issued
       shares (235,881,939) less shares held in treasury (18,400,000) i.e. 
       217,481,939 shares.

  4    Copies of this interim report are available to the public, free of 
       charge, from 4th Floor, 2 Cromwell Place, London SW7 2JE, during normal
       office hours. A copy will also be posted on Tiger Resource Finance plc's 
       website www.tiger-rf.com.

  5    Profit and Loss reserves include a credit of £2,034,750, being a transfer 
       from revaluation reserves of prior period unrealised gains realised in 
       the current period.





For further information please contact:


Bruce Rowan, Chairman         Tel: [phone]

Colin Bird, Director          Tel: [phone]



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