Blaine, WA: Tamerlane Ventures Inc. (TAM: TSX-V) announced today that, as a result of a review by the British Columbia Securities Commission, it has issued the following clarification of its scoping study announced on August 24, 2007.
In section 7 (pages 5-6) and section 10 (page 7) of the August 24 news release, Tamerlane makes reference to 5 deposits containing approximately 6 million tonnes of resources. It should be noted that 2 of these deposits, specifically V-46, estimated by Westmin in the 1970’s, and Z-155, estimated by Westmin in 1985, are historical resources and therefore not compliant with NI 43-101.
Tamerlane reiterates that no independent audit was done for the supplemental in-house scoping study. Furthermore, the in-house scoping study does not meet the definition of a preliminary assessment in NI43-101, and should not be relied on for production forecasting or economic analysis.
The study included historical and inferred or unclassified mineral resources, some of which are too speculative geologically to have economic considerations applied to them. There is no certainty that the study results will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Tamerlane is in the process of drilling the deposits included in the Scoping Study to move these resources into the measured and indicated resource categories. The results of this drilling will be incorporated into a feasibility study subject to review by third party consultants Chlumsky, Armbrust & Meyer (CAM).
The information in this press release was prepared under the guidance of Mr. Ross F. Burns, P.Geo., LG, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.
“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.