Tiger Royalties & Investments Plc

NAV Update - Net Asset Value(s)

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

The unaudited portfolio value (PV) (based on investments and cash only) at 31 March 2014 was 2.03 pence per ordinary share.

Investments held by the Company as at 31/03/14

Name	Number of shares	Share price GBP	Valuation GBP
African Eagle Resources Plc	1,241,174	0.00185	2,296
African Pioneer Plc	57,000,002	(see note 2)	210,000
Anglo American Plc	11,500	15.26500	175,548
Ascent Resources Plc	9,642,857	0.00650	62,679
Astar Minerals Plc	400,000	0.01200	4,800
Aurum Mining Plc	8,333,333	0.01375	114,583
ETFS Physical Platinum	2,250	81.81627	184,087
Jubilee Platinum Plc	1,169,600	0.01625	19,006
New World Oil and Gas Plc	5,000,000	0.00650	32,500
Northern Petroleum Plc	294,118	0.24000	70,588
PanContinental Oil and Gas NL	885,714	0.02391	21,177
Papua Mining Plc	230,000	0.24000	55,200
Petroceltic International Plc	66,640	1.67000	111,289
Polar Star Mining Corp	833,333	0.04349	36,242
Praetorian Resources plc	400,000	0.07750	31,000
Sovereign Energy Plc	40,000,000	(see note 2)	40,000
Sovereign Mines of Africa Plc	2,000,000	0.01350	27,000
Sunrise Resources Plc	665,000	0.00575	3,824
Trap Oil Plc	330,000	0.10125	33,413
Tertiary Minerals Plc	1,330,000	0.12125	161,263
U3O8 Holdings Plc	4,166,666	(see note 4)	-
Union MedTech Plc	625,000	(see note 4)	-
Vatukoula Gold Mines Plc	150,000	0.06375	9,563
Wentworth Resources Ltd	220,000	0.47389	104,256
Xtract Resources PLC	344,827,584	0.00220	758,621
Total Investments			2,268,935

Notes:

The above PV calculation is based on 138,331,939 Ordinary shares with a nominal value of 1 pence each ("Ordinary shares") being the Company's issued share capital of 142,831,939 Ordinary shares less 4,500,000 Ordinary shares held in treasury.
The investments of £210,000 and £40,000 respectively in African Pioneer PLC (quoted on ISDX) and Sovereign Energy PLC relate to companies incubated by Tiger and are carried at cost for the purpose of computing the 31 March 2014 quarterly PV.
Cash funds held by the Company at 31 March 2014 amounted to £538,363.81
The investments in Union Med Tech PLC and U308 Holdings Plc have been marked down to nil whilst the companies are suspended from trading on ISDX.
All future reporting will be made on a quarterly basis and accordingly the next announcement will disclose the PV per share and investments as at 30 June 2014. The Company will disclose its investments on a quarterly basis when disclosing its PV.

For further information please contact:

Bruce Rowan, Chairman Tel: +00 44 207 486 3997
Raju Samtani, Director Tel: +00 44 777 594 6676