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Tamerlane Amends Agreement to Acquire Indian Mountain Lake Property
Published : February 01, 2013
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Keywords :   Canada | Copper | Lead | Market | Peru | Report | Silver | Zinc |

BLAINE, WASHINGTON--(Marketwire - Feb. 1, 2013) -


Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (News - Market indicators) is pleased to announce it has entered into an amendment to the option agreement with Panarc Resources Ltd. ("Panarc") for the acquisition of the Indian Mountain Lake property in Canada's Northwest Territories.

The amendment provides for the deferral of $300,000 in exploration expenditures from January 31, 2013 to January 31, 2015, in exchange for the issuance to Panarc of an additional 150,000 shares by the Company. Issuance of the additional shares is subject to TSX Venture Exchange approval.

During 2012, Tamerlane expended approximately $220,000 in exploration expenditures at the Indian Mountain Lake property, including engineering, geological and administrative costs. A total of five Company personnel and consultants were on site at the property for approximately a month. Accomplishments during 2012 were focused on the BB Lake deposit and included a site assessment and review of previous exploration activities; location and mapping of existing drill hole collars; and securing, re-logging and transportation of most of the core to Yellowknife for assaying. Despite its age, the old core was intact and in good condition. Further activities included locating a significant amount of historic data and procuring the data from other parties.

The BB Lake deposit is open at depth with the deepest hole drilled to date intersecting 23 meters of 16.7% zinc and 4.5 ounces per ton silver at a depth of 335 meters with a true width of 15 meters. Planned activities for 2013 at the BB Lake deposit include completing of the transportation of the core to Yellowknife and assaying of the core. The Company plans to commence a drilling program in the fall to confirm the BB Lake high grade zone, test continuity of the orebody and examine whether the orebody is open at depth. The Company intends to complete an NI 43-101 resource report on the BB Lake deposit by the end of 2013. On-site assessment of the additional deposits and claims to locate, document and confirm previous work and to update mapping of mineralized showings, is also planned.

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 is also reviewing strategic alternatives for its Los Pinos heap leach copper project in Peru.

Michael A. Willett, Chief Executive Officer

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

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.

Tamerlane Ventures Inc.
(360) 332-4636
(360) 332-5025 (FAX)
Data and Statistics for these countries : Canada | Peru | All
Gold and Silver Prices for these countries : Canada | Peru | All

Tamerlane Ventures Inc.

ISIN : CA8750891043
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Tamerlane Ventures is a gold development stage company based in United states of america.

Tamerlane Ventures develops gold, lead and zinc in Canada, and holds various exploration projects in Canada and in Peru.

Its main asset in development is PINE POINT in Canada and its main exploration properties are CAROLIN MINE in Canada and LOS PINOS in Peru.

Tamerlane Ventures is listed in Canada. Its market capitalisation is CA$ 689 150 as of today (US$ 631 399, € 461 805).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.98, and its lowest recent point on May 21, 2014 at CA$ 0.01.

Tamerlane Ventures has 137 830 000 shares outstanding.

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Nominations of Tamerlane Ventures Inc.
2/22/2013Appoints New Chief Executive Officer
6/24/2011Announces Re-Election of Directors and Results of Annual Mee...
2/24/2011Appoints Gregg Sloate as Director of Investor Relations and ...
Financials of Tamerlane Ventures Inc.
5/30/2013Files Financial Results for the First Quarter of 2013
5/1/2013Files Financial Results for Year 2012
6/21/2011Reports First Quarter 2011 Financial Results and Conversion ...
4/29/2011Reports Financial Results for Year 2010
Project news of Tamerlane Ventures Inc.
4/5/2013(Los Pinos)s Los Pinos Peruvian Property Legal Developments
3/7/2011(Pine Point)Signs Contracts to Advance Its Pine Point Lead-Zinc Project ...
5/6/2010(Pine Point)Tamerlane Confirms Historical Resources
Corporate news of Tamerlane Ventures Inc.
8/22/2013Files for CCAA Protection
7/30/2013Misses Interest Payment and Receives Demand Notice from Lend...
7/30/2013Misses Interest Payment and Receives Demand Notice from Lend...
6/28/2013Announces Results of Annual General Meeting
6/28/2013Announces Results of Annual General Meeting
6/13/2013Announces Amendment to Forbearance Agreement in Respect of S...
4/23/2013(Pine Point)Engages Jennings Capital as Investment Banker for Pine Point...
3/28/2013(Pine Point)Interviewing Investment Banking Firms for Pine Point Project...
2/1/2013Amends Agreement to Acquire Indian Mountain Lake Property
1/24/2013Announces Closing of $1.7 Million Initial Tranche of Equity ...
1/7/2013Announces $2 Million Equity Financing
12/20/2012Announces up to $1.5 Million Flow-Through Private Placement
11/29/2012Announces Extension of Global Resource Fund Loans and Files ...
10/17/2012Provides Loan Update
9/26/2012Provides Update
7/6/2011(Pine Point)Completes Site Work at Pine Point With Goal of Commencing Co...
4/13/2011(Pine Point)Continues to Advance Its Pine Point Lead-Zinc Project into P...
3/17/2011(Pine Point)Plans to Expand Resources at Pine Point Lead-Zinc Project
2/17/2011Announces Signed Term Sheet for US$60 Million Senior Secured...
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