Tanqueray Resources Ltd. - Press Release

CALGARY, May 26 /CNW/ - Tanqueray Resources Ltd. is pleased to announce that the cease trade orders issued against our the Company by the Alberta and British Columbia Securities Commissions on May 6th, 2010 and May 11th, 2010 respectively for failure to file our audited financial statement, management discussion and analysis and certification of annual filings for the year ended December 31, 2009 were revoked on May 19th, and May 13th, 2010 respectively and the Company has been advised by the TSX Venture Exchange that the shares of the Company are scheduled for reinstatement effective the opening Thursday, May 27, 2010.

Tanqueray also wishes to advise that the Letter of Intent entered into between Valero Resources Incorporated and the Company (as more fully detailed in our Press Release dated December 7, 2009), has now expired. The Company is continuing discussions with Valero, and upon successful completion of the necessary financing, will commence negotiations with Valero to enter into a new agreement.

"Statements in this Press Release may constitute forward-looking statements. Such forward-looking statements include risks, uncertainties and other factors which may cause actual results, performance or achievements of Tanqueray to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Tanqueray does not undertake to update any of such forward-looking statements."

"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."


For further information: For further information: TANQUERAY RESOURCES LTD., Alan Farmer, President, Tel: (403) 263-9055, Fax (403) 263-9061, Email: info@tanquerayresources.com

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