White Tiger Gold Ltd is Pleased to Announce a New 300 Million Rouble Bank Facility With Sberbank
TORONTO, ONTARIO -- (Marketwire) -- 09/06/11 -- White Tiger Gold Ltd. (TSX: WTG) ('White Tiger Gold' or the 'Company') is pleased to announce today the entering into by its indirect wholly owned subsidiary LLC Ildikangold, which holds the Company's Savkino project, a new bank loan facility with a leading Russian banking group - Sberbank - in the amount of Roubles 300 million(c. C$ 10 million). The principal terms are as follows:
Non revolving credit line for up to 300 million Roubles. Fixed interest rate of 13%. Scheduled repayments between September 2013 and August 2016.
'We are pleased to have concluded this new bank facility with Sberbank - a leading Russian banking group. This will assist the Company in meeting its targets for this year and with the forthcoming intended business combination with Century Mining Corporation' said Dr. Geoffrey Cowley, CEO of White Tiger Gold.
About White Tiger Gold
The Company is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation. The Company currently operates the Savkino heap leach gold operation located in southeastern Siberia. Plans are underway to expand gold production at Savkino and to develop a second gold-copper mine at the Company's Nasedkino property situated in Chita Region in southeast Siberia. In addition to Ildikan, Nasedkino/Uryum and Pridneprov, the Company also holds gold exploration licences in Zolin-Arkinsk and Takhtamygda which are prospective geological environments in south central Siberia.
Contacts:
White Tiger Gold Ltd.
Dr. Geoffrey Cowley
Chief Executive Officer
drgpc@whitetigergold.com