Tamerlane Announces Project Update For Pine Point



    - Company updates status of financing and Mackenzie Valley Land and Water
    Board work plan for water licensing and land use permits -

    BLAINE, WA, June 16 /CNW/ - Tamerlane Ventures Inc. (TAM: TSX-V)
announces today that the Company has received from the Mackenzie Valley Land
and Water Board (MVLWB) a detailed work plan and schedule for the issue of
land and water use permits for the Company's Pine Point zinc-lead project,
located in the Northwest Territories, Canada. Tamerlane also provided an
update on the status of project financing for Pine Point.

    Project Financing
    -----------------
    As previously announced, Tamerlane has signed an agreement with MRI
Trading AG for a mezzanine debt financing facility of US$40 million, which
will be used for construction and development of the Pine Point Project. The
mezzanine facility with MRI is a major component of the project financing for
Pine Point. The facility will be linked to a smelter off take contract and
payment for concentrates at the railhead; eliminating the need for a large
working capital facility. MRI is a top-tier trader of concentrates and other
non-ferrous raw materials. It is part of the MRI Group of companies, a leading
investment and commodities trading group, with a global presence through its
offices in Beijing and Shanghai, Santiago de Chile, Lubumbashi, Johannesburg,
New Delhi and Brisbane.
    Tamerlane will be announcing the senior secured portion of the financing
package as soon as the Pincock, Allen and Holt overwrite of the Company's
updated feasibility study is complete.

    Permitting Process
    ------------------
    According to the work plan published by the MVLWB, a Board decision
regarding the Land Use Permit, which is required to begin construction and
development at Pine Point, may be issued on July 31, 2008. This is a
significant development in the overall project because once the Land Use
Permit is issued construction and development can commence immediately.
    Regarding the Water License necessary to begin mining operations, the
MVLWB schedule indicates a final Board decision in November 2008, followed by
a 30 - 60 day Federal Minister approval process.
    Upon receipt of the MVLWB work schedule, Tamerlane expressed appreciation
to the MVLWB Board Members for the timely order of events outlined in the
schedule, and reiterated the Company's eagerness to cooperate fully with the
Board and all other stakeholders to ensure a complete and thorough licensing
process.

    "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.

    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.





For further information:

For further information: Brent Jones, Manager of Investor Relations,
E-mail: bjones@tamerlaneventures.com, Phone: (360) 332-4653, Fax: (360)
332-4652, Website: www.tamerlaneventures.com

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TAMERLANE VENTURES INC.

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