Tamerlane to Speak at the Global Mining Finance Forum in London, England on the Advancement of the Pine Point Lead Zinc Project
BLAINE, WASHINGTON, Sep. 16, 2010 (Marketwire) -- Tamerlane Ventures Inc. (TSX VENTURE:TAM) ("Tamerlane" or the "Company") is pleased to announce that Margaret M. Kent, the Executive Chairman of the Company will be speaking at the prestigious Global Mining Finance Forum on September 23, 2010 in London, England. Other speakers at the event include Eric Finlayson, Head of Exploration Rio Tinto, Giles Byford, Vice President Barclays Capital, various international fund managers and investment banking representatives. The venue attracts both a strong representation from the investment banking sector from Europe, and specific targeted mining investment professionals and managers interested in resource projects requiring capital.
"I am extremely pleased to be able to speak at such a distinguished event and have the opportunity to discuss the advancement of the Pine Point Lead Zinc Project. Michael Willett, our new CEO, and myself will be highlighting the project, the financing requirements and strategy of the Company going forward. The economics of the project continue to improve as we update the feasibility study with 2010 information, and after we obtain the required financing, we will be able to deliver concentrate from the project within 24 months. The Pine Point project has a completed bankable feasibility study with robust economics, significant resources, excellent infrastructure including power and a paved highway to site and railway proximal to the site. With a new energized team, Tamerlane is now at a turning point with the Pine Point project, and the recent rise in commodity prices, specifically in lead and zinc," commented Margaret M. Kent, Executive Chairman of Tamerlane.
Tamerlane will be commencing a Canadian brokerage tour on September 27th, 2010 and visiting Toronto, Montreal, Calgary and Vancouver to ensure the Tamerlane's project becomes visible to the investment community, and also attending the Cambridge House Investment Conference in Toronto on September 25th and 26th, 2010 (www.cambridgehouse.ca). Tamerlane invites all investors, shareholders and members of the brokerage industry to drop by the investment conference to discuss the advanced Pine Point Project and also to review Tamerlane's strategy going forward.
About the Pine Point Project
The Pine Point project is an advanced and permitted Pb/Zn project that hosts extensive infrastructure and significant Pb/Zn resources. The project is situated adjacent to a paved road, close to existing hydro facilities, the existing rail head at Hay River connects directly to the south. A bankable feasibility study was completed in 2008 that identified robust economics and a long mine life. The Company is currently building additional resources through a targeted confirmation surface diamond drill program and reviewing options for potential mine financing alternatives and mine development. Historically, the Pine Point Mine was the largest and most profitable zinc-lead mine in Canadian history. Located on the south side of the Great Slave Lake 129 kilometers (80 miles) south of Yellowknife and 80 kilometers (50 miles) east of Hay River, the historic Pine Point Mine extracted over 64,259,570 tonnes of ore at a grade of 7.0% zinc and 3.1% lead between 1964 and 1987.
The Pine Point Project current mineral inventory contains a NI 43-101 compliant proven & probable reserves of 7.8 million tonnes grading 3.01% Pb and 6.16% Zn, measured & indicated resources of 8.0 million tonnes grading 1.13% Pb and 2.26% Zn. In addition the property hosts non 43-101 compliant historical resources(i) totaling approximately 50.9 million tonnes at a grade of 1.24% Pb and 3.84% Zn.
The information in this press release was prepared by Mr. Wolfgang A. Schleiss, P.Geo., under the guidance of Mr. Ross F. Burns, P.Geo., LG. Mr. Schleiss is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.
(i) The historical estimates contained in this news release are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, the Company is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves.
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 is working towards bringing the world-class Pb/Zn Pine Point Property back into production in Northwest Territories, Canada, and developing its Los Pinos heap leach copper project in Peru. The Company's primary focus is the Pine Point Project, which consists of the Pine Point Mine, which was the largest and most profitable base metal mine in Canadian history. Tamerlane controls the Pine Point Project, along with a large contiguous property to the west.
On behalf of Tamerlane Ventures Inc.
Michael Willett, CEO