Tamerlane Ventures Inc.

Tamerlane Ventures Inc.

October 26, 2007 10:03 ET

Tamerlane Announces a Financing for Up to C$1.5 Million to Upgrade Existing Indicated Resources to Reserves

BLAINE, WASHINGTON--(Marketwire - Oct. 26, 2007) - Tamerlane Ventures Inc. (TSX VENTURE:TAM) 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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

Contact Information

  • Tamerlane Ventures Inc.
    Brent Jones
    Manager, Investor Relations
    (360) 322-4653
    (360) 332-4652 (FAX)
    Website: www.tamerlaneventures.com