Monday, August 9, 2010

Peggy Appointed Executive Chairman of TAM

BLAINE, WASHINGTON--(Marketwire - Aug. 9, 2010) - Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX VENTURE:TAM) is pleased to announce the appointment of Margaret M. Kent as Executive Chairman of Company. The Company and the new executive management team of Tamerlane is 100% focused on raising the financing required to put the Pine Point Lead Zinc permitted project into production.


"On behalf of the Board of Directors, I am pleased that Margaret "Peggy" Kent has chosen to take the lead executive role to advance the Pine Point lead-zinc project. Peggy is taking an active management role from her previous non-Executive Chairman role to focus a majority of her time to ensure the Pine Point project advances to production from the permitted stage. Peggy is known in the industry for her ability to arrange creative financing packages, raise capital, and advance mining projects to production. Tamerlane is now at a turning point with the current robust economics of the Pine Point project, and the recent rise in commodity prices specifically in lead and zinc. With the newly appointed CEO Michael Willett, newly appointed members of the Board, an experienced management team including VP Exploration Wolf Schleiss, I look forward to what looks to be a promising year ahead," commented Ross F. Burns, President of Tamerlane.


"CEO Michael Willett brings a wealth of hands-on base metals mine engineering and project management experience to our team, most recently from Hudson Bay Mining & Smelting Co. Ltd. Mr. Willett will be working closely with the executive management team to update the feasibility study and subsequently work closely with our financing team. 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. I look forward to becoming involved on a daily basis to ensure the Pine Point project moves towards production," commented Margaret M. Kent, Executive Chairman of Tamerlane.


Subject to the approval of the TSX Venture Exchange, the Company approved the issue of 1,100,000 stock options to the Executive Chairman and an employee of Tamerlane. The stock options are exercisable into common shares of Tamerlane at an exercise price of C$0.18 per share for a period of five years. Tamerlane's common shares closed at C$0.18 on the TSX Venture Exchange on August 6, 2010. Included in this grant are 1,000,000 options to Margaret M. Kent, the newly appointed Executive Chairman of the Company. Options granted to Ms. Kent, over the five year period, will vest upon the successful completion of raising the required capital to put the Pine Point project into production.


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.


Ross F. Burns, President

9 comments:

bigjohn37 said...

Isn't it amazing, Peggy appointed Executuve Chairman, and TAM shares jump 33%; while CMM is drifting down & down. So much for the "PK Factor" theory at CMM!

blevit said...

Hi everyone
A so called freind told me to invest everything i have in CMM.
Since I did,I'm losing everything.
The stock is going down & down.
What do all you experts think is going to happen to this stock?
Thx

chillby said...

Well, I think its going to become what I like best about miners- boring. A nice boring slog as we build production and get into the money by Q1/Q2 next year. Don't blame your friend - he's right. Century is a great company. It might help to pick out any 20 juniors you want, and look at their 2 or 3 year charts. The big news hits ("we have a deposit!" or "we have a permit!" or something to that effect). The price jumps, and then slowly heads south through production...the trick is timing when you buy. Besides, you can't be losing everything- the share price is still above where it was in March. The next three months will likely be the last of the really cheap CMM shares.
Patience makes a hunter.

blevit said...

Thx Chillby
My migrane is slowly going away
I bought a couple of weeks ago at 50c.
I'm not a gambler,as you can see.

moich said...

Does Tam even have thier water license from the Mackezie land and water Board. I am sure that Mrs. Kent might be on thier radar.These guys play hard ball up here,Especially after the huge mine clean ups (Royal Oak- Giant).Blevit ,looks like investors need some time to adjust CMM without PK, keyword "TIME"

moich said...

sorry they do have a Bulk sampleing mining and milling permit issued in 2006 andexpires 2013 for 1,000,000 tons of ore. Century definatly looks alot better

chillby said...

We're likely seeing a lot of reallocation of funds at present-investors gearing up for the seasonal run. I don't like making price predictions, but I'd say you'll be fairly satisfied with your investment if you can hold through January-let alone next year, when we really start showing the ounces.
It may be worth your time to go through this blog's posts - we have some very knowledgeable posters with a great deal of insight on the company. We also have a company in recovery, and doing really well at coming out of the void. Just takes time, money, and high explosives...

Wingfong said...

Hi Chillby
Very nicely put. Going by all the known knowns and known unknowns, it seems that:-
1)the season is turning favourably
2)the macro economical environment
is right for gold and hence gold
stocks
3)the company's works are
progressing well on most fronts

What I like to see is the sp breaks its recent $0.85 high by the end of the year. Have a strong feeling it will happen.

blevit said...

Thx Chillby