Tigray Drills 73.8 Metres of 3.8% Copper, 1.3 Grams Per Tonne Gold and 14 Grams Per Tonne Silver-Confirms Copper-Gold VMS Discovery at Harvest Project in Ethiopia

 

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2011) - Tigray Resources Inc. (TSX VENTURE:TIG) ("Tigray" or the "Company") is pleased to report initial diamond drill results from the 13,000-metre first phase drill program at the Terakimti copper-gold-silver-zinc prospect on the Company's 70%-owned Harvest project in northern Ethiopia. The drill program is designed to test the one-kilometre long Terakimti volcanogenic massive sulfide (VMS) prospect to a depth of 250 metres. Results from the first three holes are as follows:

Hole   From
(m)
To
(m)
Interval
(m)
*
Copper
%
Gold
g/t
Silver
g/t
Zinc
%
TD001   44.00 46.00 2.00 1.63 1.41 23 1.70
53.30 55.40 2.10 2.80 1.09 12 0.19
90.15 95.75 5.60 1.11 0.54 17 4.96
138.40 140.00 1.60 2.89 2.54 16 0.99
TD004   57.45 131.30 73.85 3.77 1.31 14 0.72
  including 78.65 115.10 36.45 6.01 1.69 19 1.31
    162.50 163.75 1.25 0.68 0.73 15 4.76
TD005   71.40 90.10 18.70 2.12 0.96 18 3.58
  including 77.60 90.10 12.50 3.04 1.24 24 4.55
 
* Mineralized true thicknesses are 60-85% of stated thicknesses.

Drilling to date in the southern part of the Terakimti target area has defined thick (10 to 35 metre true width) zones of steeply south-dipping massive sulfide mineralization over a 250-metre strike length, with an interpreted plunge to the mineralized system of 35 to 40 degrees to the ENE. Step-out drilling will target deeper mineralization along strike and down plunge of the system, as well as target under gold-rich gossans and specific geophysical anomalies along the one-kilometre strike length.

Tigray has three diamond drill rigs on site and has completed approximately 6,500 metres of diamond drilling in 35 holes to an average depth of 195 metres. The first phase drill program is expected to be complete in the first quarter of 2012.

Click here for a plan view map: http://media3.marketwire.com/docs/TIG_drill_collar_location_map_12_dec_2011.pdf.

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.

Diamond drill core 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. Analyses are conducted at Acme Laboratories in Vancouver, Canada, utilizing Aqua Regia digestion and ICP-ES. Precious metal 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‚Äźnorthwest of the capital city of Addis Ababa. Tigray is well financed, with $8 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.



Tigray Resources Inc.
Meghan Brown
Director Investor Relations
604-488-2557
investors@tigray.ca
www.tigray.ca