Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) announces that the recent high level of stock market activity in the Company’s shares, including unusually high trading volumes and fall in the share price, is not due to any material change in the Company’s activities.
On August 24, 2007 the Company announced in a press release that it had received the NI 43-101 reserve and resource technical report on the Pine Point Zinc-Lead Project. In the same press release the Company announced that it had completed its bankable feasibility study for the Pine Point Project and that it is evaluating several financing options, including a debt financing package, to put the project into production.
Today, the Company has posted on SEDAR (www.sedar.com) the Chlumsky, Armbrust & Meyer (CAM) overwritten NI 43-101 technical report and the feasibility study review.
The Company is pleased to announce that Michael Malewicz has been appointed Chief Financial Officer of the Company. Mr. Malewicz, BS (Business Administration), MBA (Finance), has 20 years of professional experience in accounting and finance at mid- to large-market capitalization companies including Qualcomm, Inc., Industrial Bank of Japan and Swedish Health Services. Since 1997, Mr. Malewicz has lead or participated in 53 debt and equity financings totaling approximately US$8 billion in value. He has also held senior management positions with responsibilities that include treasury management, design and implementation of investment policies, investment portfolio optimization, capital financing, financial modeling and Sarbanes-Oxley compliance.
“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.