Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) is pleased to announce that it has acquired a 100% interest in the Pine Point Lead-Zinc Property. The Company satisfied the work expenditure requirements of its option agreement on the Pine Point Property to earn a 60% interest by year-end 2005. Under the terms of the agreement, Tamerlane had the right to exercise its option to acquire a further 40% interest in return for a payment of C$1,000,000. The property is subject to a 3% NSR.
Tamerlane is currently conducting a feasibility study and bulk sample test on the R-190 deposit. The feasibility study and bulk sample will determine the economic viability of underground mining for the other deposits using a freeze perimeter to control water intrusion into the mine as well as the use of dense media separation to upgrade the run of mine ore. The use of the freeze perimeter technology is expected to dramatically decrease the cost of pumping while the dense media separation technology is expected to upgrade the run of mine ore to form a concentrate for direct shipping to a smelter.
Tamerlane plans to access the R-190 deposit using a shallow vertical shaft located within the freeze perimeter and deliver the ore to surface from an underground primary crusher using a vertical lift conveyor. The conveyor has a planned capacity of up to 400 tonnes per hour and mining is planned at a rate of 2,800 tonnes ore per day. Bulk sample production is expected to commence by the end of 2007.
“Ross F. Burns”
President & CEO
For further information, please contact:
Tom Thomsen, Investor Relations Consultant
Graham Eacott, Vice President, Investor Relations
Phone: (360) 332-4653
Fax: (360) 332-4652
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.