Minmet to dispose of holding

Tiger Resource Finance PLC
16 January 2002


                          Tiger Resource Finance plc


              Agreement by Minmet plc to dispose of shareholding

                               Director Changes


The Board of Tiger Resource Finance plc ('Tiger' or the 'Company') has been
informed by its largest shareholder Minmet plc ('Minmet') that Minmet has
reached agreement to dispose of its entire shareholding in the Company to
Ronald Bruce Rowan. The transaction is scheduled to complete no later than 31
May 2002. Minmet currently holds 32,495,671 shares in Tiger representing
14.54% of the issued share capital in the Company.


Mr Rowan and Colin Bird are joining the Tiger Board with immediate effect and
Alan Mooney and John Molyneux have tendered their resignations as Directors.
It has also been agreed that Jeremy Metcalfe and Gordon Riddler will step down
from the Board and that Michael Nolan will become a non-executive Director, on
completion of the transaction.


In addition Mr Rowan has been appointed Director with responsibility for
Investment Policy and Strategy.


Mr Rowan and Mr Bird bring their respective expertise to investment and
technical evaluation, principally in the natural resource sector. Mr Rowan is
a controlling shareholder in Sunvest Corporation Ltd, a company listed on the
Australian Stock Exchange (ASX). He also has stakes in his own name in a
number of other AIM and OFEX companies. Mr Bird, a Chartered Engineer, is a
Director of Lion Capital Corporation Limited ('Lion'), a London based
corporate finance company specialising in the natural resource sector. Lion is
regulated by the FSA.


Tiger was admitted to trading on AIM in January 2001 principally to invest in
a broad range of companies in the natural resource sector. In the past year it
has invested approx Stg2.3m in 9 companies in the sector quoted on Canadian,
London, Johannesburg and Australian Stock Exchanges. Tiger also holds over
Stg1m in cash.


Mr Rowan as Director of Investment Policy and Strategy intends to focus Tiger
as a pre-eminent provider of investment funds to natural resource companies
traded on London's AIM and Ofex exchanges.


The information which falls to be disclosed in relation to Ronald Bruce Rowan
and Colin Bird in accordance with paragraph f of Schedule 2 of the AIM Rules
is listed in Appendix 1 of this notice.




Michael Nolan

Director

Tel: + 353 1 661 3309


16 January, 2002






Appendix 1


Ronald Bruce Rowan

Sunvest Corporation Limited

Murraya Holdings Pty Ltd

Vogon Pty Ltd

Country Corporation Pty Ltd

Wellington Pacific Pty Ltd

Starlight Holdings Ltd.

Web Shareshop plc

White Knight Investments plc




Colin Bird

Lion Capital Corporation Limited

Lion Networks Limited

Lion Mining Limited

Lion Mining Corporation Limited

International Freegold Inc

MIT Ventures Inc

Canalaska Ventures Inc

In the case of both Mr Rowan and Mr Bird there are no matters falling to be
disclosed pursuant to Paragraph f (III - VIII) of Schedule 2 of the AIM Rules.