Tigray Resources Inc.

Tigray Resources Inc.

January 25, 2012 06:00 ET

Tigray Commences Drilling on the Mayshehagne VMS Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2012) - Tigray Resources Inc. (TSX VENTURE:TIG) ("Tigray" or the "Company") reports that drilling has commenced on the Mayshehagne (may-SHAY-aw-nee) prospect, a copper-gold volcanogenic massive sulfide (VMS) prospect on the Company's 70%-owned Harvest project in northern Ethiopia. This drilling will total approximately 900 metres in five holes and is part of the Company's 13,000 metre first phase drill program currently under way at Harvest.

The Mayshehagne prospect is 3.3 kilometres south of the current drilling at Terakimti on a separate VMS trend. The target was initially identified as a bedrock electromagnetic conductive feature from an airborne survey. Mapping has defined a mineralized zone over a strike of 170 metres that includes magnetic ironstone, chert breccia, several gossans, barite and malachite, hosted in flow banded rhyolite. The bedding dips at 50 to 85 degrees NW. Results from eight rock chip samples have returned assay values ranging from 0.07 to 14% copper, 0.11 to 13.2 grams per tonne gold, up to 56 grams per tonne silver, 0.03 to 1.9% zinc and up to 1.7% lead.

Previous work at Mayshehagne includes several geophysical surveys, including one section of induced polarization and a 100 metre spaced time-domain electromagnetic survey. A strong electromagnetic anomaly has been defined directly beneath the Mayshehagne gossan outcrop, with a strong late-time conductor present near surface and interpreted to be related directly to massive sulfide.

The first five planned holes at Mayshehagne will be followed up with additional drilling based on initial target validation and mineralized trend definition. The 13,000 metre first phase drill program at Harvest is scheduled for completion by the end of February.

Quality Control

The planning, execution and monitoring of Tigray's quality control programs at the Harvest project are under the supervision of Jeff Heidema, P.Geo., Tigray's Vice President Exploration, and Dr. David Groves, Tigray's Director of Project Development. Mr. Heidema and Dr. Groves are Qualified Persons as defined by National Instrument 43-101.

Rock chip samples have undergone preliminary preparation at the Acme Laboratories facility in Ankara, Turkey, and are crushed to 80% passing 10 mesh, and pulverized to 85% passing 200 mesh (Acme R200-1000 package). Analyses are conducted at Acme Laboratories in Vancouver, Canada, utilizing Aqua Regia digestion and ICP-ES. Precious metals analyses are conducted via Fire Assay Fusion with AA finish, and gravimetric analyses for over-limit samples. Blanks and certified reference standards are inserted into the sample stream to monitor laboratory performance.

About Tigray

Tigray is a Canadian mineral exploration company focused on advancing early-stage mineral projects in Ethiopia. Tigray's key property is the 70%-owned Harvest polymetallic VMS exploration project, which covers 362 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa. The Company recently entered into an agreement to acquire the Harvest North properties, which cover 795 square kilometres immediately adjacent north and west of the Harvest project. Tigray has $5 million in cash and no debt. The Company's shares trade on the TSX Venture Exchange under the symbol TIG.

On behalf of the Board of Directors:

Andrew Lee Smith, P.Geo., President, CEO and Director

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might", "should" or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in the Company's listing application dated August 18, 2011.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of gold; the demand for gold; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.

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 news release.

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