Tenke Mining Corp.

Tenke Mining Corp.

March 22, 2005 11:52 ET

Tenke Announces Closing of $12.5 Million Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TENKE MINING CORP.

TSX SYMBOL: TNK

MARCH 22, 2005 - 11:52 ET

Tenke Announces Closing of $12.5 Million Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2005) - Tenke
Mining Corp. (TSX:TNK)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES

(all figures in Canadian dollars unless otherwise stated)

Tenke Mining Corp. (the "Company") is pleased to announce that it has
today closed its underwritten private placement common share offering as
announced March 03, 2005. The total offering, including the exercise of
the underwriters' option was for 2.5 million shares at a price of $5.00
per common share and realized gross proceeds of $12.5 million.

A syndicate led by GMP Securities Ltd. and Paradigm Capital Inc. acted
as underwriters in connection with the offering.

Net proceeds of the private placement will be used towards the Company's
copper/gold exploration programs in Argentina as well as for general
working capital purposes.

Tenke has an extensive land package in Argentina encompassing over 1.2
million hectares covering key prospective gold and base metal regions in
the country. Three projects are currently being drilled including the
copper/gold porphyry targets at Josemaria and the adjoining Batidero
property and a new exotic copper target with underlying copper sulphide
potential on the Vicuna property in northwest San Juan province.

ON BEHALF OF THE BOARD

Paul Conibear, President

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Tenke Mining Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    www.tenke.com