Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) announces that it has granted a total of 585,000 stock options, of which 100,000 stock options were granted to an officer of the Company. The stock options are exercisable into common shares of Tamerlane at an exercise price of C$2.45 per share for a period of five years. Tamerlane’s common shares closed at C$2.45 on the TSX Venture Exchange on July 16, 2007.
Tamerlane has 38,370,574 common shares issued and outstanding. Under the terms of the Company’s “rolling” Incentive Stock Option Plan, a maximum of 3,837,057 shares are available to be issued pursuant to the exercise of options at this time. Including this grant of 585,000 options, a total of 2,726,000 shares have been reserved for issuance pursuant to outstanding option grants. A further 1,111,057 shares are available for issuance pursuant to future option grants at this time.
Tamerlane advises that Diana Rollo, Chief Financial Officer, has left the Company. The Company intends to conduct a search for a new Chief Financial Officer immediately. In the meantime, Margaret Kent will assume the responsibilities of Chief Financial Officer.
“Ross F. Burns”
President & CEO
For further information, please contact:
Brent Jones, Manager of 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.
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in zinc, lead and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.