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Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX-V: TAM) announced today that the Federal Minister of Aboriginal Affairs and Northern Development Canada has approved and signed a 5-year extension to Tamerlane’s Type A Water License for the Pine Point Project.
Tamerlane also received its updated Type A Land Use Permit in March of this year. The Company’s Land and Water permits are valid for the maximum term allowable, which is 5 years, encompassing the construction and mining operations at the R-190 zinc-lead deposit.
In 2008, the Mackenzie Valley Land and Water Board issued Tamerlane a Type A Land Use Permit pertaining to the completion and construction of the main mine, milling and tailings facilities at the R-190 deposit of the Pine Point project. In 2009, the Federal Minister of Indian and Northern Affairs also approved and signed the project’s Water License.
Although these permits were valid until 2013, last year the Company submitted an application to amend the Water License and Land Use Permit, reflecting the change in method of accessing the R-190 ore body from a vertical shaft to a ramp decline.
As a result of today’s announcement, both the Water License and the Land Use Permit have been successfully renewed, and are currently in effect for the full maximum term of 5 years, through March 2017.
About Tamerlane Ventures Inc.
Tamerlane Ventures Inc. is an exploration and development mining company with advanced base metal development projects in Canada and Peru. The Company’s immediate focus is bringing the 100%-owned Pine Point Project to production. The Company is currently in the financing phase and expects to commence construction following financing. Tamerlane plans to sell the well-known, Pine Point Concentrates to various smelting facilities around the world. The Company also plans to develop its Los Pinos heap leach copper project in Peru.
“Michael A. Willett”
Chief Executive Officer
For further information, please contact:
Tamerlane Ventures Inc.
Director of Corporate Communications and Investor Relations
Phone: (360) 332-4636
Fax: (360) 332-5025
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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.