White Tiger Seeks to Acquire a 50% Joint Venture Interest in the Marshall Lake Property Project, Ontario
Trading symbol: TSX-V: WTC News Release No. 10-02
White Tiger Seeks to Acquire a 50% Joint Venture Interest in the Marshall Lake Property Project, Ontario
West Vancouver, British Columbia – March 8, 2010 – White Tiger Mining Corp. (the “Company” or “White Tiger”) is pleased to report that it has signed a letter of intent with Rainy Mountain Royalty Corp. of West Vancouver, BC (“Rainy Mountain”) and Marshall Lake Mining PLC of London, England (“MLM PLC”) to acquire up to a 50% joint venture interest in Rainy Mountain’s and MLM PLC’s Marshall Lake project located in Ontario. The letter of intent is subject to the completion of a definitive option agreement and the obtaining of regulatory and shareholder approvals. Rainy Mountain and White Tiger have certain common directors.
The Marshall Lake project is a copper, gold, silver and zinc property and consists of 65 unpatented mining claims and 89 leased claims (for a total of 965 claim units or approximately 60 square miles) and is located approximately 250 km north-northeast of Thunder Bay, Ontario (accessible via Highway 11/17).
As summarized in the letter of intent, the Company can acquire up to a 50% joint venture interest in the Marshall Lake project by incurring over a 5 year period $4,000,000 in exploration expenditures on the Property and issuing 2,000,000 shares of the Company. As a result, White Tiger can earn a 12 ½ % joint venture interest in the Marshall Lake project for each $1,000,000 of exploration expenditures incurred. As well, once White Tiger has completed all of its share and spending commitments, it has the additional option to increase its interest to 75% by incurring such additional expenditures as are necessary to take the Marshall Lake project to bankable feasibility stage.
The Company is currently negotiating a definitive option agreement with Rainy Mountain and MLM PLC, which will be filed for acceptance with the TSX Venture Exchange when completed.
To receive Company news via email from CHF Investor Relations, please contact Alison Tullis at [email protected] and reference "White Tiger News" on the subject line.
For further information, please contact:
White Tiger Mining Corp. CHF Investor Relations
Clive Shallow, Investor Communications Alison Tullis, Senior Account Manager Tel: (604) 922-2030 Tel: (416) 868-1079 ext. 233 Fax: (604) 922-2037 Fax: (416) 868-6198 Email: [email protected] Email: [email protected]
White Tiger Mining Corp.
“Ronald A. Coombes”
_________________________________ Ronald A. Coombes, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.