Tigris to clarify Technical Disclosures related to Crownpoint and Hosta Butte Technical Reports

    




 As a result of a review by the British Columbia Securities Commission,  we are issuing the following news release to clarify our disclosure 

 TSX.V:TU 

 VANCOUVER, Dec. 28, 2011 /CNW/ - Tigris Uranium Corp.  ("the Company") announces that, as a result of a technical disclosure  review by the British Columbia Securities Commission (the "BCSC"),  clarifications are required regarding current uranium resource  estimates in the Technical Reports on the Company's Crownpoint Section  19/29 Property dated June 20, 2011 and its Crownpoint Section 24 and  Hosta Butte Properties dated May 26, 2010 (collectively, the  "Reports"). 

 As a result, the Company provisionally retracts current resource  estimates in the Reports pending the preparation and filing of new,  independent technical reports, and provides information about the  comparable historical reserve estimates in a following Table. The  current mineral resource estimates for the Crownpoint Section 19, 24,  and 29 and Hosta Butte properties are not supported by compliant NI  43-101 technical reports, contrary to NI 43-101, and the current  resources should not be relied on until they have been independently  verified and supported by new or amended technical reports. 

 Because of limitations in the database available to the report author,  the Reports do not contain sufficient verifiable data and information  to support current resource estimates. 

 The resource estimates contained in the Reports were based upon data  collected by Conoco during the 1970s and which included in excess of  74,374 ½ ft original gamma probe readings.   This data was included in  a historical pre-feasibility study prepared by Conoco.  The BCSC has  advised the Company that reliance on historic data, information, and  reports is contrary to the verification requirements of NI 43-101, and  is not in itself sufficient to verify prior gamma values,  disequilibrium factors, and other information used by the Reports to  estimate current resources. 

 The BCSC has not questioned the validity of the data collected by  Conoco.  The BCSC has however, questioned the steps taken by the  Report's author to verify the above data. 

 The Company is working closely with the BCSC to correct the identified  deficiencies and to ensure that it becomes fully compliant as soon as  possible.  The Company will be retaining a new QP to prepare the new  reports. 

 Notwithstanding the provisional retraction of the current resource  estimates contained in the Reports, pending the preparation and filing  of new, independent technical reports the Company reiterates the  following historical reserve estimates contained in the Reports, with a  comparison to the retracted current estimates: 

  





                          RetractedCurrent Estimates         Conoco 1979 (HB 1980) - Historical

                   Million     Grade      ContainedU3O8     Million     Grade      ContainedU3O8
                    Tons       eU3O8%       (Million         Tons       eU3O8%       (Million
                                            Pounds)*                                 Pounds)*

    Crownpoint        2.8      0.1006           5.634          1.8       0.15             5.4
    Section 19

    Crownpoint       4.26      0.0943           8.038         2.87      0.183           10.517
    Section 29

    Crownpoint       2.85      0.1041           5.98           1.8       0.15             5.4
    Section 24

    Hosta             6.6      0.1123          14.822        2.816       0.18            10.15
    Butte

    Total           16.51      0.1044          34.474        9.286      0.1677           31.44






  

 Conoco reported the above as "mineral reserves" which do not meet the  Proven or Probable Reserve definition stated in NI 43-101 but are  likely comparable to the inferred or indicated resource  classifications.  The historical estimates should not be relied upon  but are considered to be relevant. The "reserves" were estimated by compiling the grade times thickness  values in drill holes for each mineralized horizon and then contouring  the values on a plan map. The mineralized zones were compiled on plan  maps and the bodies were interpreted to form linear zones controlled by  paleo river channels. The mineralized bodies were extended between  barren drill holes in order to expand the body to the next mineralized  drill hole. The volume of the interpreted body was multiplied by the  grade times thickness product to give the pounds of contained eU(3)O(8). Mineralization cross-sections are not included in the data base and  detailed documentation of the Conoco "reserve" is not contained in the  database files. Discussions of "reserve" estimation procedures with the  Conoco project geologist confirm an accepted and reliable estimation  procedure was followed.  In order to upgrade the historical estimates  by Conoco as current mineral resources the Company needs to carry out  additional work which may include but not be limited to verification  drilling/logging, chemical assays, historical log analysis, historical  instrumentation information, and analysis and review of property drill  core archived at the USGS.  The Company anticipates completing the  additional work and preparing and filing new reports in the first  quarter of next year. 

 Readers are cautioned that a qualified person has not done sufficient  work to classify the historical estimate as current mineral resources  and that the Company is not treating the historical estimates as  current mineral resources. 

 The technical content of this news release has been reviewed and  approved by the Company's Chief Geologist, Douglas Underhill, PhD, MSc,  MBA , a Qualified Person as defined by National Instrument 43-101. 

 Appointment of Chief Financial Officer The Company also announces that Mr. Michael O'Brien has been appointed  as the Company's Chief Financial Officer. Mr. O'Brien brings more than  25 years of experience of financial management and regulatory  compliance experience to the Company. Mr. O'Brien is the Chief  Financial Officer of the Predator Group, and in that capacity also  serves as the Chief Financial Officer of Golden Predator Corp., Silver  Predator Corp. and Redtail Metals Corp. Mr. O'Brien's previous  experience includes serving as Chief Financial Officer of Africo  Resources Ltd. a TSX-Listed mineral exploration and development company  with operations in the Democratic Republic of the Congo. Chief  Financial Officer of Irvin & Johnson Ltd., an international fishing and  seafood processing company, and as Manager of Finance of Soekor  Exploration and Production (Pty) Ltd. (now part of PetroSA).  Mr.  O'Brien qualified as a Chartered accountant in South Africa in 1986,  and has been a member of the Canadian Institute of Chartered  Accountants since 1991. 

 About Tigris Uranium Corp.  Tigris Uranium Corp. is committed to maximizing shareholder value and is  well positioned with a treasury in excess of $9 million and a low  annual expenditure rate. Tigris owns 115,000+ acres (46,400 ha) of  private mineral rights in New Mexico's Crownpoint Uranium District, a  portion of which is under NRC license, in a new progressive New Mexico  regulatory and political environment. 

 Neither 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.  

 This press release contains projections and forward-looking information  that involve various risks and uncertainties regarding future events.  Such forward-looking information can include without limitation  statements based on current expectations involving a number of risks  and uncertainties and are not guarantees of future performance. There  are numerous risks and uncertainties that could cause actual results  and Tigris Uranium Corp's plans and objectives to differ materially  from those expressed in the forward-looking information. Actual results  and future events could differ materially from those anticipated in  such information. These and all subsequent written and oral  forward-looking information are based on estimates and opinions of  management on the dates they are made and are expressly qualified in  their entirety by this notice. Except as required by law, Tigris  Uranium Corp. assumes no obligation to update forward-looking  information should circumstances or management's estimates or opinions  change. 

Tigris Uranium Corp.


CONTACT:  Tigris Uranium Corp. William Sheriff, ChairmanPhone: [phone] [e-mail] 


    

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