BLAINE, WASHINGTON--(Marketwired - April 23, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX VENTURE:TAM) is pleased to announce that it has signed an engagement agreement with Jennings Capital Inc. ("Jennings Capital") for the purpose of managing the financing process with respect to the Company's Pine Point lead-zinc project located in Canada's Northwest Territories.

As previously announced, over the past year Tamerlane has presented the Pine Point project to senior mining companies, smelter operators, off-takers, hedge funds and private equity funds. Management has identified a "short list" of four significant and well capitalized potential partners that have expressed strong interest in moving forward with Tamerlane on the Pine Point Project. These parties have signed non-disclosure agreements and entered the data room of Pine Point in order to assess the required $125 million complete funding package to put Pine Point back into production.

According to the terms of the engagement, the primary role of Jennings Capital will be to assist the Company in communications, negotiations, and overall management of the process with these short-listed parties.

Tamerlane also announced today that, in conjunction with the Company's senior secured lender, negotiations are proceeding with an interested party on the potential sale of the Company's Los Pinos copper project, located 100 km south of Lima, Peru. Upon completion, the proceeds from such sale will be used to pay down the Company's senior secured loan.

John Key, Tamerlane's CEO, commented, "The Tamerlane Board and I are extremely pleased to be working with Jennings Capital to move the financing process for the Pine Point Project forward. The Pine Point Project, considered by many to be the next new operating zinc and lead mine, contains 8 billion pounds of zinc and lead in NI 43-101 compliant reserves and historic resources and remains infrastructure ready to come back on line in the near future. I believe that Jennings Capital has the background and experience to meet our financing requirements for completing the construction at Pine Point as the markets enter their projected zinc deficits."

"In addition, a sale of Los Pinos could provide a milestone to dramatically reduce Tamerlane's debt, restore its financial health and ease the way for Tamerlane and Jennings Capital to secure the most attractive financial package for Pine Point."

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 zinc and lead concentrates to various smelting facilities around the world.

John L. Key, CEO

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.