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White Tiger Gold Reports 2011 Third Quarter and Nine Month Financial Results (ccnm)

TORONTO, ONTARIO–(Marketwire – Nov. 16, 2011) - White Tiger Gold Ltd. ("White Tiger Gold or the "Company"") (TSX:WTG) announces today that on November 14, 2011 it filed its interim financial statements and management's discussion & analysis ("MD&A"), for the three month and nine month period ended September 30, 2011 which can be found on White Tiger Gold's website at http://www.whitetigergold.com as well as on SEDAR at http://www.sedar.com. Note: the financial statements, MD&A and this press release report the third quarter and nine month results for White Tiger Gold before completion of the business combination with Century Mining Corporation ("Century") which closed on October 20, 2011.

Financial Highlights for the three and nine months periods:

• Revenue up 26% on same 3 month period last year and up 35% on the same 9 month period last year reflecting a combination of higher volumes and sustained higher gold prices with an average price in the three month period of $1701 and in the nine month period of $1637 ounce compared to $1265 per ounce for the nine month period last year.
• Operating profit of $3.2m in the three month period was 50% ahead of the same period last year and, excluding a cost of $2.2m relating to share bonus payments in the nine month period, operating profit would have been $3.7m compared to $1.7m for the same nine month period last year.
• Exceptional transaction costs mainly related to the business combination with Century
• Net debt at the end of September of $14.5m compared to a net cash position at the end of 2010 of $13m. This mainly reflected significant capital and exploration expenditure in the nine month period of $21.5m, with the company focusing on increasing its capacity on the Savkino project as well as exploration expenditure at Nasedkino and Drevny which have all shown positive results.

Third Quarter 2011 Operational Highlights:

Ildikangold operations continue to progress with the mine able to overcome the impact of an unseasonable heavy rainfall in July and August. Gold production in the three and nine months ended September 30, 2011 amounted to 8,131 and 11,362 ounces, respectively, and operation remains on target for approximately 20,000 ounces of gold in 2011.

Total ore production for the nine months ended September 30, 2011 was 445,978 tons at an average gold grade of 1.25 g/t. For the three month period ended September 30, 2011, total ore mined was 194,194 tons at an average gold grade of 1.25 g/t.

At Nasedkino the Company maintained four exploration drills in operation for the quarter as part of the Company's program towards development and completion of the feasibility study in the first half of 2012.

During the quarter the Company announced assay results from the drilling program for 80 drill holes comprising 8,866 meters. The program is designed to increase the conversion of historical Russian approved C1 + C2 mineral resources and to expand the current limits of the known mineralization and other new gold prospects.

Drilling continues at the Drevny site where initial results have been promising intersecting wide intersections of stockwork of Au-Ag mineralization from surface down to a depth of 180 m.

"Our third quarter was marked by positive developments on the Ildikangold operation, which is performing in line with expectations, and also the exploration programs at both Nasedkino and Drevny," said Mr. Daniel Major, CEO of White Tiger Gold.

About White Tiger Gold

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

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 (collectively, "forward-looking statements") relating, but not limited to, White Tiger's expectations, intentions and beliefs (including, without limitation, statements regarding White Tiger's projects and licence areas, exploration, development and production plans and targets, exploration results, future plans and objectives, including the expansion of capacity at the Savkino Project, plans to increase the conversion of historical Russian approved C1 + C2 mineral resources and to expand the current limits of the known mineralization and plans to carry out a feasibility study at the Nasedkino Project (including the timing thereof). Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements. Such statements are based on assumptions, estimates, opinions and analysis made by management of White Tiger in light of its experience, current conditions and its expectations of future developments as well as other factors which they believe to be reasonable and relevant.

Forward-looking statements 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. Risks and uncertainties that may cause actual results to vary include but are not limited to: changes in equity and debt markets; inflation; uncertainties relating to the availability and costs of financing needed to complete exploration and development activities; exploration and development costs varying significantly from estimates; delays in the exploration and development of, and/or commercial production from, the properties in which White Tiger has an interest; unexpected geological or hydrological conditions; the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties, including the failure of major mining and/or milling equipment; the availability to White Tiger of suitable financing alternatives; the ability of White Tiger to service its existing debt facilities; fluctuations in gold and other commodity prices; the existence of undetected or unregistered interests or claims, whether in contract or in tort, over the property of White Tiger; success of future exploration and development initiatives; competition; operating performance of facilities; environmental and safety risks, including increased regulatory burdens, seismic activity, weather and other natural phenomena; inability in, or delays in, obtaining necessary permits and approvals from government authorities; risks relating to labour and other exploration, development and operating risks; changes to and compliance with applicable laws and regulations, including environmental laws; political, economic and other risks arising from White Tiger's activities in Russia; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in White Tiger's Annual Information Form dated March 30, 2011 and in other filings made by White Tiger 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 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 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Daniel Major
White Tiger Gold Ltd.
Chief Executive Officer
info@whitetigergold.com
www.whitetigergold.com

OR

Joanna Longo
Terre Partners
(416) 238 1414 (ext 233)
jlongo@terrepartners.com

I made an inquiry with the Alberta Securities Commission as follows:

"Hi, I would like to know how the 3rd quarter financials will be released in the situation of a business combination. Specifically WTG and CMM. WTG reported their 3rd quarter financials 14 November 2011, as per requirement…there is no mention of CMM financials for the 3rd quarter…because the business combination was not complete as at 30 Sept 2011.  Will CMM or WTG file the 3rd quarter financials on or before 29 November 2011 (as per the venture exchange guidelines?)"

Here is the response that I received:

"The plan of arrangement was completed on October 20, 2011. The financials that would show this transaction will be the year end for December 31, 2011. Please note that Century Mining Corporation has ceased to be a reporting issuer and is no longer required to file its financials. "