Blaine, WA: Tamerlane Ventures Inc. ( TAM: TSX-V) announced today it has reached an agreement for a private placement to issue up to $1.5 million in Flow-Through Shares. Each Flow-Through Share will be issued at a subscription price of C$1.50 per share. The Flow-Through funds will be used to provide drill confirmation of Indicated Resources at the Company’s Pine Point lead-zinc property, which is located in the Northwest Territories. This will allow the resources to be re-categorized as additional Reserves. The securities issued under this financing will be subject to a four-month hold period.
The company will pay a finder’s fee of 6.0% in cash.
This financing, including the commission’s payable, will be subject to approval of the TSX Venture Exchange.
On October 25, 2007 Tamerlane’s shares closed at $1.24 per share on the TSX Venture Exchange.
On behalf of the Board of Directors,
“Ross F. Burns”
President & CEO
For further information, please contact:
Manager, Investor Relations
Phone: (360) 322-4653
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.