White Tiger Gold Ltd.
TSX : WTG

White Tiger Gold Ltd.

March 02, 2011 09:00 ET

White Tiger Gold Obtains Revolving Credit Facilities for Up to C$23.8 Million

ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS--(Marketwire - March 2, 2011) - White Tiger Gold Ltd. (TSX:WTG) ("White Tiger Gold" or the "Company") is pleased to announce that its two indirect, wholly-owned Russian subsidiaries, Ildikangold and Dalsvetmet, which hold, respectively, the Company's Savkino and Nasedkino projects, have entered into revolving credit facility agreements with OJSC JSCB (INTERNATIONAL FINANCIAL CLUB) ("IFC-Bank") for up to an aggregate of 700,000,000 Rubles (approximately C$23.8 million) to provide further funding for the expansion of gold production at the Company's Savkino mine and for the design stage for the Company's Nasedkino project.

The principal terms of the two credit facilities are as follows:

Ildikangold: Revolving credit facility of up to 450,000,000 Rubles (approximately C$15.3 million); Repayment date: December 24, 2012; Interest rate: 12% per annum, payable quarterly. Security for the Ildikangold credit facility includes a guarantee of Dalsvetmet and a pledge by the Company's wholly-owned subsidiary, Diascia Investments Limited ("Diascia"), of its 100% participatory interest in Ildikangold.

Dalsvetmet: Revolving credit facility of up to 250,000,000 Rubles (approximately C$8.5 million); Repayment date: December 24, 2012; Interest rate: 12% per annum, payable quarterly. Security for the Dalsvetmet credit facility includes a guarantee of Ildikangold and a pledge by Diascia of its 100% participatory interest in Ildikangold.

Dr. Geoffrey Cowley, the Chief Executive Officer and a director of the Company, comments: "On behalf of the board of directors of the Company, I am pleased that we have consummated these new facilities with IFC-Bank, which will provide additional funding for the development of our two main assets in Russia – Savkino and Nasedkino."

About White Tiger Gold

White Tiger Gold is a gold mining and exploration company with its assets based in eastern Russia. The common shares of White Tiger Gold are listed and posted for trading on the Toronto Stock Exchange (TSX) under the symbol "WTG".

Forward-Looking Information

This news release contains or refers to forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that White Tiger Gold believes, expects or anticipates will or may occur in the future are forward-looking information. Such forward-looking information includes statements contained in this news release regarding: plans for the growth and development of the Company; the Company's access to capital; and the Company's plans with respect to its material projects, being the Savkino and Nasedkino projects. Forward-looking information reflects the current expectations or beliefs of White Tiger Gold based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of White Tiger Gold to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, White Tiger Gold. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: failure to successfully complete financings on favourable terms or at all; capital and other costs varying significantly from estimates; production rates varying from estimates; changes in gold prices; uncertainties relating to the availability and costs of financing needed in the future; unexpected geological conditions; imprecision in resource and reserve estimates; success of future development initiatives; competition; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; and other factors. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, White Tiger Gold disclaims any intent or obligation to update forward-looking information, whether as a result of new information, future events or results or otherwise. Although White Tiger Gold believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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