Tamerlane announces up to C$1.5 million financing

BLAINE, WA, Sept. 15 /CNW/ - Tamerlane Ventures Inc. (TAM: TSX-V) announces today that, subject to regulatory approval, the Company intends to complete a private placement of up to C$1.5 million through the sale of units of the Company priced at $0.22 per unit. Each unit will consist of one common share of the Company and one-half common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of $0.32 per common share for a period of 18 months. The proceeds from the offering will be used for general corporate purposes.

Kingsdale Capital Markets Inc. will act as agent for the private placement. As consideration for Kingsdale's services under the private placement, Kingsdale will receive a cash commission of 6%, and warrants equal to 8% of the number of Units sold. The warrants are exercisable into a unit for a period of 18 months at $0.22 per unit.

Kingsdale will also have the option to purchase up to an additional 15% of the units offered during the period 30 days following the closing date to cover over-allotments.

All of the securities issued in this private placement will be subject to a four-month hold period. The offering is expected to close by the end of September.

    "Ross F. Burns"
    President & CEO

    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.

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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