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ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS — (Marketwire) — 12/05/11 — White Tiger Gold Ltd. (TSX: WTG) ("White Tiger Gold" or the "Company") is pleased to announce that it has received credit committee approval from VTB Capital plc ("VTB") to enter an agreement concerning a proposed senior secured term loan facility of up to US$150 million to fund the Company's production, development and exploration activities. The funds are to be made available in three tranches, with the initial US$80 million dollars of the facility planned to be divided into two tranches of US$ 40 million.

The first tranche will be used to settle existing loan facilities in Russia and to support the Company's planned expansion of its Savkino mine in order to achieving a doubling of the annual production capacity starting from 2013 based on expanding the existing pit on north-east flanks and construction of a new pit on the southwestern flank of the Savkino deposit.

A second tranche of the facility is to be used for capital development of the planned 80,000 ounce per annum Nasedkino project, which is currently forecast to be commissioned in 2014, with design capacity to be achieved in 2016.

Terms and purpose of the use of the remaining US$70 million of the facility is subject to a further discussion between VTB and the Company. Further details of the loan facility will be provided in due course once they are finalised.

"With the assistance of VTB Capital the Company has increased its financial strength required to meet its planned development growth targets and advancing White Tiger's goal of being a mid-tier gold producer," noted Daniel Major, CEO of White Tiger Gold.

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".

Caution Concerning Forward-Looking Information

This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws including with respect to the entering into of a definitive loan facility agreement with VTB and the completion of the business combination between White Tiger Gold and CMC. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by the management of White Tiger Gold in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to: the conditional nature of the agreement between VTB and White Tiger Gold, including the completion of satisfactory due diligence by VTB on White Tiger Gold and CMC; the conditional nature of the business combination between White Tiger Gold and CMC, including the requirement for approval of the business combination by the shareholders of each of CMC and White Tiger Gold, the TSX, the TSX Venture Exchange, the Ontario Superior Court of Justice as well as any required approval under the Investment Canada Act; any exercise by White Tiger Gold of its rights of termination under the arrangement agreement between White Tiger Gold and CMC (together, the "Companies") dated as of March 11, 2011, as amended June 16, 2011; changes in equity and debt markets; fluctuations in gold and other commodity prices; as well as other risks and uncertainties which are more fully described in White Tiger Gold's Annual Information Form dated March 30, 2011 and annual and quarterly Management's Discussion and Analysis and in other filings made by White Tiger Gold with Canadian securities regulatory authorities and available at http://www.sedar.com.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, White Tiger Gold disclaims any intent or obligation to update any forward-looking statement, 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 statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Contacts:

White Tiger Gold Ltd.

Daniel Major

Chief Executive Officer

info@whitetigergold.com

Terre Partners

Joanna Longo

Investor Relations

jlongo@terrepartners.com

$150 million! looks like the lender is comfortable with this White Tiger. Contary to what we generally know about tigers of any colour, hopefully this tiger is of the rare white kind that makes people smile.

How many of you read the fine print in this news release?  This is what caught my attention:

Risks and uncertainties that may cause actual results to vary include but are not limited to: the conditional nature of the agreement between VTB and White Tiger Gold, including the completion of satisfactory due diligence by VTB on White Tiger Gold and CMC; the conditional nature of the business combination between White Tiger Gold and CMC, including the requirement for approval of the business combination by the shareholders of each of CMC and White Tiger Gold, the TSX, the TSX Venture Exchange, the Ontario Superior Court of Justice as well as any required approval under the Investment Canada Act; any exercise by White Tiger Gold of its rights of termination under the arrangement agreement between White Tiger Gold and CMC (together, the "Companies") dated as of March 11, 2011, as amended June 16, 2011;

This news release appears to have been written prior to the merger or at the very least agreement in principal for a $150 million (US$ not rubles) loan to fund the development of the White Tiger properties in Russia was reached prior to the merger.  The conditions in bold above were satisfied in October.

Who could have imagined prior to the merger that anyone would loan WTG $150 million for development of their Russian properties.  Two of our principal arguments against the merger were that the Russian assets were worth much less than Century's and WTG didn't have the capital needed to finance Lamaque operations.  On the contrary it was speculated that it was going to be Lamaque profits that were needed to finance the development of the Russian assets.

Well VTB Capital thinks that the Russian properties have a lot of potential – so much so that there are willing to loan WTG US $150 million to develop them.  While we scoffed at WTG's ability to fund Lamaque operations when it spent most of its cash on Savkino, WTG has shown it has the ability to raise whatever money it needs without diluting shareholders.  

Who is VTB Capital?

Check out their web page at http://www.vtbcapital.com/

Among their awards is this one:

VTB Capital named the Best FX Provider in Russia in Global Finance magazine’s World’s Best Foreign Exchange Providers 2012 Award

Here is a thought, perhaps White Tiger would not be able to finalize the loan till the merger was completed and they were able to use Century properties as a sort of colatoral for the loan or to show it cabn be repaid. Just a thought. It did state in the release that VTB had to complete due diligence on White Tiger and Century.

64 pennies….

If this $150M tranche loan was good for anything that would produce VALUE for the company, WTG would be $1.64 not 64 cents!

Stock price is the only thing that matters in this equation and you all can twist this around inside out till Friday and it won't make a lick of difference.  Market does not like this news any more than it liked the "business combo" news back in March…oh yeah, all CMM shares suddenly worth $1.87 pre split…NOT!

Let me ask how many millions have been poured down the black hole of Lamaque since it got reopened?  Over $100M and still nothing to show for it. 

Finkscammer & Co can go get all Greek and get another BAILOUT with yet another lines of credit, but it still only equals DEBT DEBT and MORE DEBT.  How are they going to service the loan with only 6 oz per day out of Salvinko? 

Way to go Finkscammer….more debt, and no profits.  At least now you're underwater with anything less than 70c…. har har har…payback is a beyotch!

My employment and position brings me in continual contact with a major Gold Mining company.  If you were to think of the top three….. it would be one of them… that is for sure.  Why I mention this is that I'm able to reasonably see how a major gold company operates not only in the mine but within their whole infrastructure.  Enough said about them as I do have to maintain confidentiality.

Unquestionably, I then look at Finskiy & Assoc………. they are "featherweights" in the industry.  I would also like to add the words, wheeler, dealers, manipulators, and on and on.  Finskiy & Assoc. have got themselves badly overrated.

Then I sit back and reflect on what I'm seeing and possible options in the near and midterm future.  As recently  far back as Dec. 2009, did anyone see the present state of affairs in their crystal balls.  I sure did not nor do I think anyone else did either.

As the WTG shareprice decays to unreasonable levels……I'm going to suggest that WTG is being watched very closely by all of the majors.  Let Finskiy & Assoc. do all they want to grow the company but if the share price does not appreciate to reflect their moves and in fact degrades….. they become more vulnerable to a takeover.

Hypothetically, if a major company were to value all of WTG's present assets (Canada, Peru, Russia) and offer the unrealistically (so it would appear…but)  net effect price of $4.00 per share……..

WHAT WOULD YOU DO?……. WHOSE SIDE WOULD YOU BE ON?

A potential take over may be enticing to frustrated retails. However, as mentioned, how is it possible with an unwilling Max who controls more than 50% of the shares? Of course if Max is willing to sell of at $4 he will be reasonably rich and retails will be reasonably rewarded too. Frankly, it it ever happens, I sure will be on the side of the buyer!

A couple of days ago, I posted a hypothetical scenario relating to my opinion that Finskiy & Assoc. are not as "hotshot" as they think they are and raised the question as to what ALL investors would do if an outside offer at $4.00 per share were received.

My motivation was to allow Joanna Longo or other WTG insiders, who (if they) are monitoring this site to continually feel the pulse of the minority Retail shareholders, the ability to get another opinion.  Hopefully thereafter,  conveying to Finskiy & Assoc.  another view of their management capabilities, hits and misses.

Bigjohn37 …… expressed a position that I've always adopted….. that we are only as good as the people we have around us.  Unquestionable, Max Finskiy DOES NOT and HAS NOT surrounded himself with the best people needed for him to achieve his goals.   Instead and from their backgrounds, he has surrounded himself with only those that he is comfortable with and who tell him what he wants to hear. 

Wingfong…… expressed an opinion that I think is true…. everybody has a price, even Max Finskiy.  Wingfong also indicated "sentiment".  WTG is not a "Darling" in the gold marketplace and is a long way from being able to stand proud at such expose as PDAC and say ….. "look at us, we're good!".

Dave Peters….. challenged us on comparing Max Finskiy to a featherweight/lightweight based on his efforts at Polyus and Intergeo as an OLIGARCH.  I then went to such definition sources as Wikipedia defining OLIGARCH.   My consideration was….. if I won(given) a $40,000,000.00 loto, ….I'd could become an economic OLIGARCH in FREDERICTON and I'd be a somebody.  But would I have the smarts and capabilities to double, triple, quadruple the principle that I was given to the benefit of my investments, those who depended on me, or would I become a flashy noise.

I trust that Joanna Longo is watching and understands our points which are …….

do Finskiy & Assoc. have the where-with-all to generate added shareholder value or will WTG continue to just be "flashy noise"?

dave peters said:

Finskiy a featherweight / lightweight?

The same Finskiy who played a major role in the formation of Russia’s biggest gold producer, PolyusGold? The same Finskiy who headed (still heads?) Intergeo, a company founded by one of Russia's biggest ogliarchs?

Sure, whatever.

Yeah Moron…the same FINK-ski who took a "100,000 opy producer" like Century Mining and diluted the shares with worthless pp over and over until it was worth LESS than his entry price of 20c 2 years prior….the same FINK-ski blowhard who pumped his worthless siberian properties to $8 on rumors and inuendo to steal a company with actual assets for pennies on the dollar…the same FINK-scammer who even now keeps producing debt (not gold) and can't get the shareprice over $1 (let alone break-even $2+++)….

59 cents is what the market is valuing your featherweight Finkski…. i personally don't even think he's worth that much…maybe 15c 

Need I say any more…. but I will.  I missed the unglorius slide to .59 today.  From day 1 of Finskiy & Assoc. it has either been a big lie or just incompetence.  I prefer "incompetence".

Finskiy & Assoc. have not met a single growth or projection  objective that will enhance shareholder value, themselves included.  Their talk has been as cheap as the today value of WTG.

Does anyone want to suggest the "value" that Max Finskiy himself has lost.

………….  but I digress…..

Finskiy & Assoc. appear to have lost sight of the fact that their shenanigans may end up costing them their assets.  As I indicated before, they are  being watched.  Put yourself into Goldcorp, Agnico-Eagles, Kinross's or any other major producer's Boardroom .  The $15,000,000,000 Lamaque gold is still in the ground and todays WTG at 59 cents or CMM equivalent of 24 cents…..

Finskiy & Assoc. may hold shareholder control….. but the marketplace is causing them to lose their "grip".

Something is going to happen.  Something has got to happen.

………………………..

On Monday, I'm going to call Joanna Longo and ask her if she has any other comments about the "Great One" that she'd like to share with us. 

Fredriction you commented:

From day 1 of Finskiy & Assoc. it has either been a big lie or just incompetence.  I prefer "incompetence".

I wish it were simply incompetence.  People that are not fulfilling their obligations can be removed and replaced- that hasn't been the case.  

As Major and co. continue in their unproductive ways, it is very clear to me that that the paid stooges reporting to Max have simply been following orders.

If Max was serious about creating value there would have been significant operational changes eons ago.

The fact that we are still under some sort of self-serving information blackout reinforces to me that this is a public company in name only.

As the share price languishes it creates opportunity for Max's buddies to join the party at a huge discount.  The latest player of note was Sergey Yanchukov (recently arrested for not paying employees wages) and he recently picked up millions of shares under 70 cents.  

I don't think Max gives a lick about the market sentiment.  He has obviously raised capital through his Russian connections so he doesn't care about how he is viewed here- he already got what he wanted from us, Lamaque, Peru and a number of properties with great potential.

Difficult to see a takeover with all the shares in MF's hands but I would certainly welcome a management team that could be trusted.

Paydirt13

It does give me the impression that much shares are being passed from weak hands to the strong. Hopefully that was what the  price/trading volume was telling us.

What's with all the talk about Russian Mines but nothing with the Canadian and Peru mines?

Terms and purpose of the use of the remaining US$70 million of the facility is subject to a further discussion between VTB and the Company. Details of the loan facility are provided in the table below:

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Do not see any table, am I missing something?. As the purpose of the use of the remaining US$70million of the facility is subject to further discussion, could it be that they are thinking about Lamarque and Peru?

tks paliman