TORTOLA, BVI, Jan. 31, 2014 /CNW/ - Mangazeya Mining Ltd. (MGZ-H.V) ("Mangazeya" or the "Company") announces the completion of an updated NI 43-101 technical report titled "Mineral Resource and Reserve of the Savkino Gold Project, Chita Region, Russian Federation " (the "2014-Technical Report") dated January 31, 2014 for the Savkino Gold Mine in Siberia , Russia . The 2014-Technical Report was prepared by Micon International Co Limited ("Micon").

The 2014-Technical Report updates the technical report titled "Mineral Reserve and Resource Estimates of the Savkino Deposit, Zabaikalsky Territory, Russian Federation " (the "2011-Technical Report") dated December 13, 2011 prepared by JSC TOMS Engineering ("TOMS") on the Savkino Gold Mine.

The 2014-Technical Report estimates that Savkino gold deposit contains approximately 2.8 million tonnes of Proven and Probable reserves grading at 1.31 g/t, containing 119,350 ounces of gold, which is a 72.8% reduction in reserve ounces from the estimate contained in the 2011-Technical Report.

The updated mineral resource and reserve estimates are set out in the tables below.

The 2014-Technical Report will be filed on SEDAR within 45 days.

Highlights:

• The gold ounces contained in each resource and reserve category have been revised as follows:
  
  
  
  • Measured and Indicated Resources reduced by approximately 32% (156 koz);
  
  
  • Inferred Resources reduced by approximately 38% (13 koz); and
  
  
  • Proven and Probable reserves reduced by approximately 73% (320 koz).
  
  
  
  


• The reduction of tonnage in each resource and reserve category has been revised as follows:
  
  
  
  • Measured and Indicated Resources reduced by approximately 48% (6,565 kt);
  
  
  • Inferred Resources reduced approximately 65% (847 kt); and
  
  
  • Proven and Probable reserves reduced by approximately 78% (10,218 kt).
  
  
  
  


• The reduction in resources occurred, in part, because the Micon estimate is constrained within a pit shell and the TOMS estimate accounts for the entire block model.


• The reduction in reserves occurred, in part, as a result of differences in the gold price, mining and process costs, process recovery, and that Micon has only included oxide material (transition and primary material is treated as waste).

At the request of Mangazeya, Micon prepared the 2013-Technical Report describing the mineral resources and reserves of Mangazeya's Savkino gold mine and heap leach operation located in the Zabaikalsky Territory of the Russian Federation . The report was prepared in accordance with the Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Mineral Resources:

Micon has prepared an updated Mineral Resource estimate for the Savkino project mineralised zones that have sufficient data to allow for continuity of geology and grades.

A summary of the Mineral Resources is provided in Table 1.

Table 1: Mineral Resource Estimate for the Savkino Deposit (Micon 1st September 2013 )

Zone
Class
Tonnage
(kt)
Grade
(g/t Au)
Gold
(kg)
Gold
(koz)

Central
Measured
302
1.76
530
17.04

Indicated
2,808
1.54
4,315
137.74

Measured + Indicated
3,109
1.56
4,845
155.78

Inferred
143
1.31
188
6.04

South West
Measured
-
-
-
-

Indicated
3,950
1.36
5,388
173.22

Measured + Indicated
3,950
1.36
5,388
173.22

Inferred
322
1.51
487
15.66

1. Mineral Resources are reported inclusive of Mineral Reserves.


2. Mineral Resources that are not Mineral Reserves are not required to demonstrate economic viability.


3. Mineral Resources are reported below the 31st August 2013 mined surface and constrained using a pit shell provided by the Company.


4. Mineral Resources are reported to a cut-off grade of 0.50 g/t Au.


5. The above mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's "CIM Definition Standards - For Mineral Resources and Mineral Reserves" in accordance with the requirements of NI 43-101.

To the best knowledge of the author the stated mineral resources are not materially affected by any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political or other relevant issues, unless stated elsewhere in this report.

Micon has completed a basic comparison with the 2011-Technical Reports mineral resource estimate prepared by TOMS in order to evaluate the differences observed between the two results, summarised in Table 2. Both estimates are presented at a cut-off grade of 0.5 g/t Au. The approximate production from the Savkino Central Zone (open pit) between the two estimates is approximately 1.029 Mt, comprising 692 kt in 2012 plus 337 kt from the first 8 months of 2013.

It is clear that the tonnage figures for both estimates are vastly different. The main, and simple reason for this is that Micon has constrained the block model within a pit shell. The TOMS mineral resource estimate appears to comprise the entire block model, not constrained within any pit shell. The entire Micon block model, with no cut-off applied and not constrained, equates to a comparable 12.2 Mt versus the total of 13.6 Mt in the TOMS resource estimate; noting an extraction of circa 1 Mt from the 2012/13 production.

It should be noted that mineral resources must have reasonable prospects for eventual economic extraction; this implies a judgement in respect of the technical and economic factors likely to influence (economic) extraction. In order to meet this requirement Micon used the pit shell provided by the Company that has technical and economic factors applied in its generation to constrain the resource block model and produce a mineral resource that may be considered economically extractable. In accordance with the CIM guidelines, material outside of this pit shell (and considered uneconomic) is excluded from the mineral resource estimate.

Table 2. Mineral Resource estimates comparison table on the Savkino Gold Deposit by Micon September 1, 2013 versus TOMS December 1, 2011 , NI 43-101

Class
Micon (2013)
TOMS (2011)
Difference

Tonnage
(kt)
Grade
(g/t Au)
Gold
(kg)
Gold
(koz)
Tonnage
(kt)
Grade
(g/t Au)
Gold
(kg)
Gold
(koz)
Tonnage
Grade
Gold

(kt)
(%)
(g/t Au)
(%)
(kg)
(%)
(koz)
(%)

Central

Measured
302
1.76
530
17.04
1,227
1.06
1,305
42
-925
-75.4
0.70
66.0
-775
-59.4
-24.96
-59.4

Indicated
2,808
1.54
4,315
137.74
6,468
1.21
7,813
251.2
-3,660
-56.6
0.33
27.3
-3,498
-44.8
-113.46
-44.8

Measured + Indicated
3,109
1.56
4,845
155.78
7,695
1.19
9,118
293.2
-4,586
-59.6
0.37
31.1
-4,273
-46.9
-137.42
-46.9

Inferred
143
1.31
188
6.04
683
0.74
504
16.2
-540
-79.1
0.57
77.0
-316
-62.7
-10.16
-62.7

South West

Measured
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Indicated
3,950
1.36
5,388
173.22
5,929
1.00
5,957
191.5
-1,979
-33.4
0.36
36.0
-569
-9.6
-18.28
-9.6

Measured + Indicated
3,950
1.36
5,388
173.22
5,929
1.00
5,957
191.5
-1,979
-33.4
0.36
36.0
-569
-9.6
-18.28
-9.6

Inferred
322
1.51
487
15.66
629
0.92
581
18.7
-307
-48.8
0.59
64.1
-94
-16.2
-3.04
-16.2

What is shown is that the Micon mineral resource estimate (constrained within a pit shell) for the Central Zone contains 40% of the (Measured + Indicated) tonnes and approximately 53% of the contained gold metal compared to the TOMS estimate (not constrained).

It should be noted that only the Micon estimate is constrained within a pit shell and that the TOMS estimate accounts for the entire block model.

Mineral Reserves:

Mineral reserve estimation has been generated by estimating the tonnage and gold grade of all the ore types contained within the pit design and applying the mining dilution and loss factors (Note however that transition and primary material is treated as waste).

The final Proven and Probable mineral reserves at a cut-off grade of 0.40 g/t Au for the oxide only material is presented in Table 3.

Table 3: Savkino Mineral Reserves (Micon 31st October 2013 )

Pit
Category
Tonnage
(kt)
Grade
(g/t Au)
Gold
(g)
Gold
(oz)

Central
Proven
14.2
1.36
19,326
621

Probable
1,627.5
1.42
2,303,116
74,055

South West
Proven
-
-
-
-

Probable
1,192.2
1.17
1,389,366
44,674

Total
Proven + Probable
2,833.9
1.31
3,711,807
119,351

1. Mineral Resources are reported based on a cut-off grade of 0.40 g/t Au, gold price of US$1,300 /oz and recoveries of 70% (Central) and 70% (South West).

To the best of Micon's knowledge the mineral reserves are not materially affected by any known mining, metallurgical, infrastructure, permitting, or other relevant issues, unless stated elsewhere in this report.

In order to mine the above Mineral Reserves, transition and primary material (summarised in Table 4) will need to be extracted to stockpile (or waste), however this has not been included in the Mineral Reserve. For the purposes of the Mineral Reserve, this material has been reported as part of the 27.7 Mt of waste material contained in the mining schedule.

Тable 4: Transition and Primary Material Contained within Open Pits

Pit
Category
Type
Tonnage
(t)
Grade
(g/t Au)

Central
Measured
Transition
160,094
1.87

Primary
5,109
3.94

Indicated
Transition
75,823
1.79

Primary
245,046
1.30

N/A
153,145
1.62

South West
Indicated
Transition
298,249
1.50

Primary
380,739
1.21

It should be noted that the Central Zone (open pit) contains 153 kt (at 1.62 g/t Au) of material (Type N/A) that has insufficient data to be categorised as either oxide, transition or primary, and as such has not been estimated as a Mineral Resource or Reserve. However, Micon believes that it is likely that this material is oxide, but until this is confirmed this material can only be treated as waste.

The mineral reserve below (Table 5) were estimated by Micon October 31, 2013 using a cut-off grade of 0.40 g/t Au for the oxide only material and by TOMS December 1, 2011 for all material.

Table 5. Mineral Reserve estimates comparison table on the Savkino Gold Deposit showing Micon October 31, 2013 (gold price $US 1300 /oz), versus TOMS December 1, 2011 , (gold price $US 1500 /oz)

Category
Micon (2013)
TOMS (2011)
Difference

Ore
(kt)
Grade
(g/t Au)
Gold
(kg)
Gold
(koz)
Ore
(kt)
Grade
(g/t Au)
Gold
(kg)
Gold
(koz)
Ore
Grade
Gold

(kt)
(%)
(g/t Au)
(%)
(kg)
(%)
(koz)
(%)

Central Zone

Proven
14.2
1.36
19.3
0.621
1,291.7
0.98
1,262.3
40.6
-1,277.5
-98.9
0.38
38.8
-1,242.97
-98.5
-39.979
-98.5

Probable
1,627.5
1.42
2,303.1
74.055
5,800.5
1.16
6,722.2
216.1
-4,173.0
-71.9
0.26
22.4
-4,419.08
-65.7
-142.045
-65.7

Proven + Probable
1,641.7
1.41
2,322.4
74.676
7,092.3
1.08
7,984.6
256.7
-5,450.6
-76.9
0.33
31.0
-5,662.16
-70.9
-182.024
-70.9

South West Zone

Proven
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Probable
1,192.2
1.17
1,389.4
44.674
5,959.2
0.95
5,666.3
182.2
-4,767.0
-80.0
0.22
23.2
-4,276.93
-75.5
-137.526
-75.5

Proven + Probable
1,192.2
1.17
1,389.4
44.67
5,959.2
0.95
5,666.3
182.20
-4,767.0
-80.0
0.22
23.2
-4,276.93
-75.5
-137.526
-75.5

Savkino Deposit Total

Proven
14.2
1.36
19.3
0.62
1,291.7
0.98
1,262.3
40.6
-1,277.5
-98.9
0.38
38.8
-1,242.97
-98.5
-39.979
-98.5

Probable
2,819.7
2.59
3,692.5
118.73
11,759.7
1.05
12,388.6
398.3
-8,940.0
-76.0
1.54
146.7
-8,696.12
-70.2
-279.571
-70.8

Proven + Probable
2,833.9
1.31
3,711.8
119.35
13,051.4
1.05
13,650.9
438.9
-10,217.5
-78.3
0.26
24.7
-9,939.09
-72.8
-319.55
-72.8

As with the mineral resource estimates the biggest difference in the mineral reserve estimates are observed in the ore tonnage. Of the total Proven and Probable reserves the Micon estimate is some 78% less than the TOMS estimate, due largely to Micon restricting the estimate to oxide material only. In the Micon estimate transition and primary material is thus treated as waste. Aside from the fact that Micon has only included oxide material, as opposed to TOMS who have included oxide, transition, and primary material (the latter which cannot be economically processed), some of the main parameters applied in the estimates differ as summarised below:

TOMS (2011)




Micon (2013)

Gold Price (US$/oz)
Mining loss (%)
Mining dilution (%)
Ore mining cost (US$/t)
Waste mining cost (US$/t)
Processing cost (US$/t)
G&A (US$/t)
Process recovery (%) (Central)
Process recovery (%) (South West)




1,500
2.8
13.6
2.7
3.4
3.9
5.6
78.56
72




1,300
3.51
8.12
1.8
1.4
10.6
3.1
70
70

Significant differences are observed in the gold price, mining and process costs, and process recovery. Throughout 2011 the gold price rose steadily from around US$1,350 /oz in January to US$1,650 /oz by December and so the use of US$1,500 /oz by TOMS was justified at the time of their report. Micon cannot account for the costs used by TOMS, or the process recovery which perhaps relates to test work results rather than actual recovery results. Actual recovery in 2011 and 2012 was 59% and 66% respectively.

What is shown is that the Micon mineral reserve estimate for the Central Zone contains approximately 23% of the (Proven + Probable) tonnes and approximately 29% of the contained gold metal to that estimated by TOMS. The figures for the South West Zone (Probable only) are 20% and 24.5% respectively.

It should be noted that key estimation parameters, including gold price, operating costs, and process recovery factors, differ significantly between the Micon and TOMS mineral reserve estimate.

Furthermore (and perhaps of more significance), Micon has only included the oxide ore within its estimate whereas TOMS has included transition and primary material.

Due to substantial decrease of the reserves and resources of the Savkino Gold Deposit, Mangazeya Mining management has started to re-assess the previous production mining schedule which should reflect the existing reserves of the mineable oxide ore amenable for heap leaching production.

Qualified Persons

The 2014-Technical Report was prepared by Micon International Co. Limited ("Micon"). The Savkino mineral resource estimate data in this news release was read and approved by Jason Ché Osmond, M.Sc.,EurGeol., C.Geol., FGS, Senior Geologist, Micon, and a Qualified Person ("QP") as defined by NI 43-101. The Savkino mineral reserve estimate data in this news release was read and approved by Bruce Pilcher , B.E. C.Eng . EurIng. FIMMM. FAusIMM. CP(Min), Senior Mining Engineer, Micon, and a QP as defined by NI 43-101. By virtue of their education, membership to a recognized professional association and relevant work experience Mr Osmond and Mr Pilcher are considered to be independent Qualified Persons as defined in NI 43-101.

Mr Osmond and Mr Pilcher have reviewed, approved and verified the technical information disclosed in this press release, including sampling, analytical and test data underlying the technical information, and the mineral resource and mineral reserve estimates. Micon visited the Savkino Gold Mine from 7th to 11th September, 2013 , to ascertain the geological and geographical setting of the Savkino property; observe the extent of the exploration work completed to date; review sample preparation methodology; inspect core logging and sample storage facilities; discuss geological interpretation and inspect drill core; review data for the assay database from historical sampling; inspect mining operations; and hold discussions with personnel involved in exploration and mining activities.

Micon is satisfied with the quality of the laboratories used for the metallurgical testing, and based on its quality control investigations there is no evidence of bias within the current database that would materially impact the mineral reserve and resource estimates.

In order to verify the information incorporated within the 2006-2011 drill programs, Micon has: completed a check of the digital drilling database against the diamond drill core to confirm both geological and assay values and provide a reasonable representation of the Savkino Project; compared the lithological coding used in the database versus the text description; and verified the quality of geological and sampling information and developed an interpretation of gold grade distributions appropriate to the use in the mineral resource model.

For further information with respect to the key assumptions, parameters and risks associated with the results of the 2014-Technical Report, the mineral resource and reserve estimates and other technical information with respect to the Savkino Gold Mine, please refer to the 2014-Technical Report to be made available at www.sedar.com.

About Mangazeya

Mangazeya is a gold mining and exploration company with its assets based in eastern Russia . The common shares of Mangazeya are listed and posted for trading on the NEX Exchange under the symbol "MGZ.H".

Relic posted this over on stock igloo

"No more uncertainty about potentially losing the properties to VTB. Its a good thing we have a rich CEO. I had to look up the word "novation" :) I guess Sergey is going to fund the whole thing."


TORONTO, Oct. 3, 2013 /CNW/ – Mangazeya Mining Ltd. ("Mangazeya" or the "Company", and formerly known as "White Tiger Gold Ltd.") (NEX: MGZ) announces that Unique Goals International Ltd. ("Unique") and VTB Capital plc have agreed to the transfer of the Company's US$150 million senior secured term loan facility ("Loan Facility") by way of novation. The Company is also announcing that the maturity date of the bridge loan facility ("Bridge Loan"), between Unique and the Company, has been extended to December 31, 2013.

Purchase and Transfer of the Loan Facility

On October 3, 2013, Unique (as the New Lender), entered into a Sale, Purchase and Settlement Agreement with VTB Capital plc (as the Existing Lender and Agent), pursuant to which the Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation ("Novation") all of the Existing Lender's commitment, rights and obligations under the Loan Facility. The transaction is expected to close on or before October 4, 2013. The Loan Facility was entered into between the Company's wholly-owned subsidiary Diascia Investments Limited and VTB Capital plc on February 2, 2012 and amended and restated on March 7, 2012.

Extension of Bridge Loan Maturity Date

On March 4, 2013, the Company announced that it entered into the US$1.5 million Bridge Loan from Unique. At the time of the agreement, the Bridge Loan was unsecured, scheduled to mature on April 15, 2013 and bore interest at 15% per annum. On April 26, 2013, the loan amount was increased to US$12,500,000, the maturity date was extended to June 26, 2013 and the loan bore interest at 15% per annum. On June 26, 2013, the Company and Unique amended the terms of the Bridge Loan for a second time. Under the second set of amendments to the Bridge Loan, the loan amount was increased to US$25,000,000 and the maturity date was extended to September 15, 2013.

On October 3, 2013, Unique and the Company agreed to extend the maturity date of the Bridge Loan to December 31, 2013. The amendment of the Bridge Loan is subject to NEX approval.

About Unique Goals International Ltd.

Unique Goals International Ltd. is a company beneficially owned, directly or indirectly, by Mr. Sergey Yanchukov, the Chief Executive Officer, Chairman and controlling shareholder of the Company. By virtue of Mr. Yanchukov's status as an insider of the Company, the provision of the Bridge Loan and the Novation of the Loan Facility constitute related party transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, pursuant to paragraph 5.4 of MI 61-101, a formal valuation is not required as the transactions do not fall under paragraphs (a) through (g) of the definition of a related party transaction. In addition, pursuant to paragraph 5.7(f), an exemption for minority approval requirements for a related party transaction is available to the Company as the Bridge Loan and Loan Facility (the subject of the Novation) are from a related party on reasonable commercial terms that are not less advantageous to the Company than if the loan or credit facility were obtained from a person dealing at arm's length with the issuer, and the loan, or each advance under the credit facility, as the case may be, is not:

(a)
convertible, directly or indirectly, into equity or voting securities of the issuer or a subsidiary entity of the issuer, or otherwise participating in nature; or

(b)
repayable as to principal or interest, directly or indirectly, in equity or voting securities of the issuer or a subsidiary entity of the issuer.

About Mangazeya Mining Ltd.

Mangazeya Mining Ltd. is a NEX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.

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.

SOURCE Mangazeya Mining Ltd.

For further information:

Contact:

Mangazeya Mining Ltd. (formerly "White Tiger Gold Ltd.")
Sergey Yanchukov
Chief Executive Officer and Chairman

http://www.newswire.ca/en/story/1236695/mangazeya-mining-ltd-announces-the-novation-of-the-us-150-million-loan-facility-from-vtb-capital-plc-to-unique-goals-international-ltd-and-the-extensi

TORONTO , Sept. 18, 2013 /CNW/ - White Tiger Gold Ltd. ("White Tiger" or the "Company") (WTG.TO) announces that (i) it is changing its name to Mangazeya Mining Ltd.; (ii) its stock exchange listing will be transferred to the NEX; and (iii) it has made additions to its management team.

Name Change to Mangazeya Mining Ltd.

The Company has officially changed its name to "Mangazeya Mining Ltd." The name change reflects the increased operational and financial support of Mangazeya Financial LLC, an investment and brokerage firm based in Moscow, Russia that focuses on brokerage and asset management services for corporations and individuals. Mangazeya Financial LLC is controlled by Mr. Sergey Yanchukov , who is also the majority and controlling shareholder of the Company.

Transfer of Listing to NEX

The Company also announces that it is transferring its exchange listing to the NEX board of the TSX Venture Exchange. As of September 23, 2013 , the Company will commence trading on the NEX as "Mangazeya Mining Ltd." under the trading symbol "MGZ.H" (CUSIP G57919105; ISIN VGG579191054).

Additions to the Management Team

The Company is also announcing that it has appointed Mr. Sergey Emelianov as the Deputy Director in Charge of Production, Mr. Valery Kolnogorov as Mine Director and Mr. Sergey Reshetnikov as Chief Processing Engineer.

Mr. Sergey Emelianov graduated from Moscow State University of Geological Survey as a mining engineer. He began his professional career in 1978 at the Navoy Mining and Smelting Plant in Uzbekistan , where he worked for 26 years and made his way up from a mechanic to Deputy General Director. He also worked at Dzheruy-Altin LLC in Kazakhstan and as a Deputy General Director at Neryungri-Metallik LLC, which was part of Nordgold, from 2010 to 2011. In 2003 he was awarded the title of "Veteran of the Ministry of Atomic Energy and Industry of the Russian Federation " and "Honored Worker of Industry of the Republic of Uzbekistan ".

Mr. Valery Kolnogorov graduated from Sverdlovsk Mining University as a mining engineer-surveyor in 1980. He began his professional life as a Chief Mining Surveyor at Aldangold in the Russia . Mr. Kolnogorov spent 28 years with Aldangold, where he rose up to the post of Chief Operating Officer. From September 2009 till July 2011 he was a Chief Operating Officer at Neryungri-Metallik LLC. In 2006 he was awarded the title of "Honored Miner of the Russian Federation ".

Mr. Sergey Reshetnikov graduated from Tomsk Polytechnic Institute as a manufacturing engineer and began his professional career as a shift foreman. Mr. Reshetnikov worked as a Chief processing engineer in Kirgiz ore-mining plant at the Karatau JV LLP in Kazakhstan ). He was also the Chief Technologist of Khiagda JSC in the Buryatia Republic and Chief Engineer of the gold processing plant at the Karalveem Mine in Kamchatka, Russia .

Commenting on the new appointments, Sergey Yanchukov, Chief Executive Officer and Chairman of White Tiger Gold said, "On behalf of the Board of Directors, I would like to welcome highly regarded management professionals to our Company."

About White Tiger

White Tiger Gold Ltd. is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation .

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.

White Tiger Announces the Filing of its Second Quarter 2013 Financial Results

TORONTO, Aug. 14, 2013, 2013 (Canada NewsWire via COMTEX) --White Tiger Gold Ltd. ("White Tiger" or the "Company") (TSX: WTG) announced the filing of its interim financial statements ("Financial Statements") and management's discussion and analysis ("MD&A") for the three month period ended June 30, 2013. All figures are quoted in Canadian dollars unless otherwise indicated.

Commenting on the interim financial results, Sergey Yanchukov, CEO of White Tiger, said, "The Company is disappointed with the operating results for the second quarter of fiscal 2013. The Company is continuing its discussions with VTB Capital plc ("VTB") to obtain a waiver or amend the terms of the VTB Facility. To date, the Company has not received any notice from VTB regarding any intent to realize its security under the VTB Facility."

Highlights for Q2 2013 include:

    --  Net loss for the period from continuing operations of $7.9

        million compared to a net loss from continuing operations of

        $8.6 million for the corresponding period in the previous year;

    --  Revenue of $3.9 million for the second quarter of fiscal 2013

        compared to revenue of $3.4 million in the second quarter of

        the previous year;

    --  Gross profit of $0.5 million compared to a gross profit of $0.8

        million for the corresponding period in the previous year;

    --  Gold poured of 3,813 ounces compared to 3,169 ounces for the

        second quarter last year; and

    --  Cash cost per ounce sold for the second quarter of $891

        compared to $510 for the second quarter last year.

Financial Results for the Quarter ended June 30, 2013

The Company reported an operating loss from continuing operations of $1,958,000 for the three months ended June 30, 2013 compared with an operating loss from continuing operations of $3,326,000 for the three months ended June 30, 2012. Gross profit for the three months ended June 30, 2013 decreased to $474,000 from $814,000 for the three months ended June 30, 2012. Administrative costs for the three months ended June 30, 2013 decreased to $1,757,000 from $3,354,000 for the corresponding period ended June 30, 2012. Net loss from continuing operations after tax and finance costs was $7,869,000 for the three month period ended June 30, 2013, while the Company's net loss from continuing operations after tax and finance costs for the three month period ended June 30, 2012 was $8,636,000.

The decrease in net loss after tax and finance costs from continuing operations for the three months ended June 30, 2013 compared with the corresponding period of 2012, resulted from reduced administrative expenses and reduced foreign exchange loss, offset by a lower gross profit and higher finance costs. During the three months ended June 30, 2013, the Company incurred financial expenses of $2,894,000 (2012 - $1,634,000) on its loans and borrowings, the most significant increase being interest charges with respect to the VTB Facility and the Unique loans.

For the three months ended June 30, 2013, the Company reported a net loss from discontinued operations of nil, resulting from the deconsolidation of Century. The loss from discontinued operations in the comparable period of 2012 was $168,140,000.

Nothing overly interesting in the circular, just electing the Board and Share incentive program.

http://www.sedar.com/GetFile.do?lang=EN&docClass=10&issuerNo=00025178&fileName=/csfsprod/data143/filings/02073821/00000001/k%3A%5Cfilings%5Clivework%5Cwkout%5C38733%5Ccircular.pdf

TORONTO , April 23, 2013 /CNW/ - DELISTING REVIEW White Tiger Gold Ltd. (the "Company") - TSX is reviewing the Common Shares (Symbol: WTG) of the Company with respect to meeting the continued listing requirements. The Company has been granted 30 days in which to regain compliance with these requirements, pursuant to the Remedial Review Process.

About TMX Group (TSX-X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada ( Montreal , Calgary and Vancouver ), in key U.S. markets (New York, Houston , Boston and Chicago ) as well as in London , Beijing and Sydney. For more information about TMX Group, visit our website atwww.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.

SOURCE: TMX GROUP INC.