IONDRIVE LIMITED — Capital/Financing Update 2021

Jun 6, 2021

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INVESTMENT IN SOUTHERN GOLD LIMITED

Metal Tiger plc (ASX:MTR / AIM:MTR), is pleased to announce that it has purchased 3,000,000 shares in ASX listed Southern Gold Limited (ASX:SAU) (“Southern Gold”), at an average price (before costs) of approximately A$0.075 per share, for a total consideration of approximately A$225k.

Following this investment, Metal Tiger will be interested in 40,794,000 Southern Gold shares, representing approximately 19.1% of the company’s issued share capital, and 7,284,500 2-year A$0.18 warrants.

Southern Gold is a successful gold explorer listed on the Australian Securities Exchange. Southern Gold owns 100% of a substantial portfolio of high-grade gold projects in South Korea that are largely greenfield epithermal gold-silver targets in the south-west of the country. Backed by a first-class technical team, Southern Gold’s aim is to find tier one epithermal goldsilver deposits in a jurisdiction that has seen very little modern exploration.

Michael McNeilly, Metal Tiger’s Chief Executive Officer, is a non-executive director of Southern Gold.

This ASX release was authorised on behalf of the Metal Tiger Board by: David Michael McNeilly, Chief Executive Officer.

Weston Farm House | Weston Down Lane | Weston Colley | Winchester | Hants | SO21 3AG, United Kingdom +44 (0) 20 3287 5349 | info@metaltigerplc.com | Company Number: 04196004 ASX:MTR | AIM:MTR www.metaltigerplc.com

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