TAM

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAW.


Tamerlane Ventures Inc. ("Tamerlane" or the "Company") (TSX VENTURE:TAM) is
pleased to announce that it has reached an agreement in principle for the
extension to October 16, 2013 of the Company's US$10 million senior secured
bridge loans with its lender and shareholder, Global Resource Fund ("Global")
which is managed by Renvest Mercantile Bancorp Inc. The loans had been scheduled
for repayment on October 16, 2012. In addition to the extension of the maturity,
Global has also agreed that the interest of approximately US$105,000 per month
due for September 2012 through December 2012 will be capitalized and added to
the face value of the loan. As consideration for the extension, the Company has
agreed to pay Global a fee of US$1,000,000 which will be capitalized and added
to the face value of the loan. The Company will also issue Global 16,172,673
Tamerlane common shares, in addition to the 5,096,154 common shares Global now
holds. Global will then hold 21,268,827 shares, or 19.9% of Tamerlane's
outstanding shares. Beginning in January 2013, interest must be paid monthly in
cash, and interim principal repayments will be required equal to 50% of new
equity in excess of $1,000,000 raised by the Company subject to minimum
repayments of $1,500,000 on or before each of March 31, 2013 and June 30, 2013.
Interest on the loans will remain at 12.5% per annum. Global will also have the
right to nominate one member to the Company's board of directors.


Mike Willett, CEO of Tamerlane, commented, "We are pleased that the Company and
Global have reached agreement on an extension of the Company's senior secured
loans. The one-year extension will give Tamerlane time to secure financing for
our Pine Point project. We are excited that Global will become a significant
shareholder and supports our vision moving forward."


The Company also announces the filing of its unaudited interim condensed
consolidated financial statements and management's discussion & analysis
("MD&A") for the three months and nine months ended September 30, 2012, as
required by National Instrument 51-102 - Continuous Disclosure Obligations.


Tamerlane's financial statements and MD&A for the three and six months ended
September 30, 2012 are available for viewing on the Company's website at
www.tamerlaneventures.com and on SEDAR at www.sedar.com.


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's
immediate focus is bringing the 100%-owned Pine Point Project to production. The
Company is currently in the financing phase and expects to commence construction
following financing. Tamerlane plans to sell the well-known, Pine Point
Concentrates to various smelting facilities around the world. The Company also
plans to develop its Los Pinos heap leach copper project in Peru.


Michael A. Willett, Chief Executive Officer

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 PLEASE CONTACT: 
Tamerlane Ventures Inc.
Brent Jones
Director of Corporate Communications and Investor Relations
(360) 332-4636
(360) 332-5025 (FAX)
bjones@tamerlaneventures.com
www.tamerlaneventures.com

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