The companies have commenced joint venture activities and paid the first funds.
Pinewood Portfolio comprises 43 licenses, applications and tenders covering approximately 9,033km² surface area in Tanzania.
Kibo Mining CEO Louis Coetzee said: "Pinewood is highly prospective for Uranium and the key to unlocking the value in the project holds is to move it into active operational status.
"This announcement today confirms the first step in that process, with ongoing costs to be funded by Metal Tiger enabling Kibo to benefit from future upside without the cost of operational activities."
In a separate statement, Kibo said it started activities on its Morogoro South gold-prospective exploration portfolio in partnership with with Metal Tiger.
Coetzee said: "Having Morogoro costs funded by Metal Tiger reduces Kibo cash utilization whilst maintaining a material exposure for shareholders in potential project upside."
