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 30 September 2014 was 1.63 per ordinary share.

Investments held by the Company as at 30 September 2014

Name	Number of shares	Share price GBP	Valuation GBP
African Eagle Resources Plc	1,241,174	0.00275	3,413
African Pioneer Plc	57,000,002	(see note 2)	210,000
Anglo American Plc	11,500	13.8400	159,160
Ascent Resources Plc	9,642,857	0.00425	40,982
Aurum Mining Plc	8,333,333	0.01250	104,167
ETFS Physical Platinum	2,250	77.5000	174,375
Jubilee Platinum Plc	1,169,600	0.012750	14,912
MX OIL PLC	400,000	0.03400	13,600
New World Oil and Gas Plc	5,000,000	0.00550	27,500
Northern Petroleum Plc	294,118	0.19000	55,882
PanContinental Oil and Gas NL	885,714	0.01887	16,713
Papua Mining Plc	230,000	0.25500	58,650
Polar Star Mining Corp	833,333	0.02479	20,658
Praetorian Resources plc	400,000	0.10750	43,000
Rex Bionics PLC	6,250	1.78000	11,125
Sovereign Mines of Africa Plc	2,000,000	0.01575	31,500
Sunrise Resources Plc	665,000	0.00500	3,325
Trap Oil Plc	330,000	0.06750	22,275
Tertiary Minerals Plc	1,330,000	0.06250	83,125
Vatukoula Gold Mines Plc	150,000	-	-
Xtract Energy plc	344,827,584	0.00180	620,690
Total Investments			1,715,052

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 investment of £210,000 in African Pioneer PLC (quoted on ISDX) relate to company incubated by Tiger is carried at cost for the purpose of computing the 30 September 2014 quarterly PV.
Cash funds held by the Company at 30 September 2014 amounted to £533,981.37.
The Petroceltic International Plc and Wentworth International Ltd investments were sold during the quarter ended 30 September 2014.
African Eagle Resources Plc has temporary suspended the trading of its shares on AIM and this investment is carried at the closing price per share prior to suspension. Vatukoula Gold Mines has withdrawn the trading of the company's shares on AIM and this investment has been written down to nil.
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 31 December 2014. The Company will disclose its investments on a quarterly basis when disclosing its PV.

For further information please contact:

Bruce Rowan, Chairman Tel: +0044 (0) 207 486 3997
Raju Samtani, Director Tel: +0044 (0) 777 594 6676