Colombian Mining & Exploration
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Tiger Gold (TSXV: TIGR)

Tiger Gold (TIGR) owns 100% of the Quinchía gold project in Risaralda, where a permitted underground deposit, a large open-pit resource and a fast-growing new discovery sit within about a kilometre of each other. Tiger Gold stock is a bet that those three can be combined into a mine of more than 250,000 ounces a year.

Tickers: TSXV: TIGR | OTCQB: TGRGF | FSE: D150 · Headquarters: Vancouver, Canada · Data as of: Nov 4, 2026

Tiger Gold at a glance

ProjectDepartmentCommodityStageOwnership
Quinchía Gold Project (Miraflores, Tesorito, Ceibal)Risaraldagold, silver (minor copper and molybdenum at Ceibal and Tesorito)resource defined; PEA completed; PEA update and PFS work planned for 2027100%
Share price / market capRefresh at publication. Last dated quotes found: C$0.90 (TSXV close, Sept 4, 2026; StockAnalysis); US$0.42 (OTC TGRGF, Oct 27, 2026; StockAnalysis)
Shares outstandingAbout 131.6 million (StockTitan, Oct 2, 2026), after 25,619,351 special warrants converted to units on Sept 10, 2026. Verify against latest MD&A
CashNot disclosed in sources reviewed. Company called itself ‘fully funded’ for its 2026 program (July 8, 2026)
Recent financing$21.0 million special-warrant offering at $0.82, closed June 10, 2026 (SCP Resource Finance lead); each unit carries half a warrant at $1.20 to June 2029
Ownership of Quinchía100% (option exercised June 9, 2026); A$6.5M contingent production payment and 1% NSR royalty to LCL Resources
2025 PEA (base case)After-tax NPV(5%) US$534M, IRR ~21%, initial capex US$480M, AISC US$1,340/oz, ~140,000 oz/yr in first five years, at US$2,650/oz gold (PEA effective Sept 18, 2025)
Major shareholdersNot disclosed in sources reviewed

About Tiger Gold

Tiger Gold Corp. is a Canadian gold explorer and developer focused on one asset: the Quinchía Gold Project in Colombia’s Mid-Cauca belt, in the department of Risaralda. It listed on the TSX Venture Exchange in December 2025 through a qualifying transaction with Badger Capital Corp., a capital pool company, and also trades on the OTCQB and Frankfurt.

Quinchía has three main deposits close together. Miraflores is a higher-grade underground deposit that already holds a mining permit. Tesorito is a large, lower-grade body suited to open-pit mining. Ceibal, about 1 km to the south of Miraflores, is a 2026 discovery that Tiger is drilling with three rigs. A September 2025 PEA (preliminary economic assessment, an early study that can include lower-confidence Inferred resources) combined Miraflores and Tesorito.

Tiger optioned the project from ASX-listed LCL Resources in mid-2025 and completed staged payments of A$7.5 million in June 2026 to own it outright. A further A$6.5 million is payable only if production milestones are met, and a 1% net smelter return royalty applies. The deal also covered the earlier-stage Andes Gold Project.

The company has raised money steadily: about C$16.3 million at C$0.50 with its December 2025 listing, and C$21.0 million at C$0.82 in June 2026. Management says it is now working toward a scenario of more than 250,000 ounces a year, well above the PEA’s roughly 140,000 ounces, with an updated PEA targeted near the end of Q1 2027.

Tiger Gold’s Colombian projects

Quinchía Gold Project (Miraflores, Tesorito, Ceibal)

Quinchía lies in the Mid-Cauca belt, a north-south corridor of porphyry and epithermal gold systems that also hosts Marmato and Buriticá. Miraflores was first drilled by AngloGold Ashanti and B2Gold between 2005 and 2007. Later ASX-listed owners took it to a 2017 JORC feasibility study with a historical reserve of 457,000 ounces at 3.29 g/t for a small underground mine, and the deposit was permitted for underground mining in 2024. Tiger plans to redesign Miraflores with an open-pit component, which will require new permitting work.

Tesorito is a gold porphyry: a large body of low-grade mineralization from surface. Tiger finished a 12,124 m, 48-hole infill and extension program there on Sept 30, 2026, with 19 holes still awaiting assays. Highlights in 2026 included 234.5 m at 1.2 g/t gold (TSDH-88). The company notes that some near-surface grades may be lifted by supergene (weathering) enrichment.

Ceibal is the growth story. Tiger has drilled more than 11,200 m in 27 holes there and reported long intervals from surface, including 685 m at 0.6 g/t (CEDDH-011) and 450.9 m at 0.6 g/t (CEDDH-022). True widths are unknown and the shape of the mineralized corridor is still being defined. A maiden Ceibal resource is targeted near the end of Q1 2027, but there is no certainty one will be defined.

A fourth area, Dos Quebradas, has a historical JORC Inferred estimate from 2020 and saw its first Tiger drilling in early 2026. It is not part of the current resource.

Resources: Miraflores: Measured & Indicated 6.1 Mt at 2.62 g/t Au and 2.28 g/t Ag (510,000 oz Au; 440,000 oz Ag). Tesorito: Inferred 104 Mt at 0.47 g/t Au and 0.58 g/t Ag (1.57 Moz Au; 1.96 Moz Ag), open pit. NI 43-101, effective July 31, 2025 (technical report effective Sept 18, 2025, filed Dec 10, 2025). Historical (not current, JORC 2012): Dos Quebradas Inferred 20.2 Mt at 0.71 g/t Au (459,000 oz, Feb 25, 2020). Ceibal: no mineral resource yet.

Latest Tiger Gold news

Upcoming catalysts

  • Assays from 19 pending Tesorito holes and 14 pending Ceibal holes (Q4 2026)
  • Updated Tesorito mineral resource (company target: early 2027)
  • Maiden Ceibal mineral resource (company target: near end of Q1 2027; not certain)
  • Updated PEA covering Tesorito, Miraflores and, if ready, Ceibal (company target: near end of Q1 2027)
  • Start of pre-feasibility work and permitting for a redesigned Miraflores with an open-pit component (2027)
  • Return of rigs to exploration, including deeper targets, after resource drilling ends (from late 2026)

Management

  • Robert Vallis, President, CEO and Director. Former executive at Yamana Gold and Barrick
  • Keith Dolo, Chairman
  • Amish Patel, CFO. Appointed effective July 1, 2026
  • Rickardo Welyhorsky, COO
  • Jeremy Link, VP Corporate Development. Qualified Person (not independent)
  • César García, Exploration Manager, Colombia. Qualified Person (not independent)

Key risks for Tiger Gold stock

  • Most of the resource is Inferred (Tesorito’s 1.57 Moz), the lowest-confidence category; the PEA relies on it and is indicative only
  • Low grades at Tesorito and Ceibal (about 0.5 g/t) make economics sensitive to gold price, strip ratio and capital cost; the 2025 PEA needed US$480M of initial capital
  • Permitting: the larger open-pit Miraflores design needs a new permitting process, and Colombian environmental licensing can take years
  • Ceibal has no resource yet; continuity, true widths and geometry are not established
  • Funding: a mine of the scale discussed would need far more capital than a junior of Tiger’s size has raised to date, implying dilution or partners
  • Some near-surface grades may be enhanced by supergene weathering and may not continue at depth

Sources

Related: Colombian stocks · Companies & Projects tracker · Colombian exploration companies

Educational information only, not investment advice. Figures are from the sources listed and dated; check the company’s latest filings before relying on them. See our Disclosure & Editorial Policy.