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)
announces that, further to a press release issued August 22, 2013, the Initial
Order under the Companies' Creditors' Arrangement Act (Canada) ("CCAA") sought
by the Company and its wholly owned subsidiary Pine Point Holding Corp. ("Pine
Point") was made by the Ontario Superior Court of Justice (the "Court") on
Friday, August 23, 2013. The Company's senior secured lender, Global Resource
Fund ("Global"), consented to the granting of the Initial Order to allow the
Company further time to explore any and all avenues of restructuring the Company
which would result in the Company's indebtedness to Global being fully repaid. A
fee of US$770,000 to Global has been capitalized and added to the amount of
Global's secured debt in exchange for its agreement of forbearance since the
Company's last default.


The Order and related Court documents are filed on SEDAR (www.sedar.com) under
the Company's profile. While under CCAA protection, Tamerlane will continue
working to restructure its financial affairs. The Court has appointed Duff &
Phelps as the CCAA monitor (the "Monitor"). Among other things, CCAA protection
stays creditors and others from enforcing rights against Tamerlane and affords
Tamerlane the opportunity to continue attempting to restructure its financial
affairs. The Court has granted CCAA protection for an initial period to
September 22, 2013, which is expected to be extended thereafter for an
additional period ending January 7, 2014. If the indebtedness owing to Global is
not satisfied by that date, or if there is an earlier default as set out in the
relevant documents, subject to the discretion of the Court, it is expected that
a receiver will be appointed, and the Company has irrevocably consented to the
appointment of a receiver. While under CCAA protection, Tamerlane will attempt
to restructure its financial affairs under the supervision of the Monitor. The
Monitor will also be responsible for liaising with creditors and other
stakeholders of the Company and reporting to the Court.


DIP Loan Facility

The Company has also entered into a DIP (Debtor-in-Possession) Loan term sheet
for proceeds of up to US$978,571 to be provided by Global. A US$30,000
structuring fee and 12% interest will be paid to Global. 


Under the terms of the DIP, the obligations of the Company in connection with
the DIP Loan have been secured by a court-ordered charge (the "DIP Lender's
Charge") over all present and after-acquired property, assets and undertakings
of the Company and Pine Point, and by guarantees of the Company's subsidiaries
Pine Point and Tamerlane Ventures USA Inc. in favour of Global. The DIP Lender's
Charge ranks in priority to all other creditors, interest holders, lien holders
and claimants of any kind whatsoever, subject only to an administrative charge
in favour of the Monitor, counsel to the Monitor and counsel to the Company in
an amount up to $300,000 and a financial advisor's charge in an amount up to
$300,000. A directors' charge in an amount up to $45,000 will rank after the DIP
Lender's Charge but prior to Global's security under its pre-existing loans. The
Company also agreed to certain covenants and negative covenants as set out in
the term sheet. The term sheet contains a number of events of default, including
without limitation, the failure to repay all amounts owing to Global on or
before January 7, 2014, the breach of, or failure to perform or observe any
covenant, certain events happening in the CCAA proceeding and a number of other
enumerated events. Regulatory approval will also be sought from the TSX Venture
Exchange.


Appointment of PricewaterhouseCoopers Corporate Finance Inc. ("PwC") as
Financial Advisor


At the request of the Company and Global, the Court ordered that the Company,
its financial advisor and the Monitor enter into a Sale and Investment
Solicitation Process Agreement ("SISP") to identify one or more financiers,
purchasers or investors in Tamerlane's business with completion of a transaction
no later than January 7, 2014. PwC has been selected as the financial advisor.
PwC, with oversight by the Monitor, will conduct a financing, sale and
investment solicitation process on all of Tamerlane's properties or to make an
investment in Tamerlane. The Company will pay PwC a work fee and a success fee
dependent upon the outcome of the services.


John Key, President and CEO of Tamerlane, commented, "Over the past several
months while I have been CEO, several parties have expressed interest in
investing in Tamerlane or its assets or in purchasing Tamerlane's assets. We are
pleased that a formal process has been implemented that will be transparent and
overseen by the Monitor and the Court. We are also pleased that Global is
providing a DIP financing package that will allow the Company over four months
to execute this plan." 


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 currently working to restructure its financial affairs while
under CCAA protection.


John L. Key, CEO

Caution Concerning Forward-Looking Information

This press release contains projections and forward-looking information within
the meaning of applicable securities laws that involve various risks and
uncertainties regarding future events including: (i) that Tamerlane will be able
to restructure its financial affairs, (ii) that Global will provide advances
under the DIP Loan, (iii) that Tamerlane and the Monitor will formulate a plan
of compromise or arrangement under the CCAA Proceeding acceptable to Global and
the other creditors, (iv) that the Court will approve of any proposed
restructuring plan, (v) that the Company and the Monitor will be able to
implement any restructuring plan that has been approved, (vi) that a transaction
that restructures the affairs of the Company in such a way that maximizes value
to all stakeholders will be completed, (vii) that the Company and
PricewaterhouseCoopers Corporate Finance ("PwC") will receive all regulatory
approvals for the Advisory Agreement, and (viii) the timing and duration of CCAA
protection. 


No assurance can be given that any of the events anticipated by the
forward-looking statements will occur as planned or at all, or, if they do
occur, what benefits the Company will obtain from them. These forward-looking
statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect. A
number of risks and uncertainties could cause the Company's actual results to
differ materially from those expressed or implied by the forward-looking
statements, including: (1) that Tamerlane is unable to secure additional
financing or make arrangements with its creditors, (2) that Global does not
provide any additional advances under the DIP Loan, (3) that one or more of the
conditions precedent to any advance under the DIP Loan is not satisfied, (4)
that there may be competing uses for the proceeds of the DIP Loan, (5) that
Tamerlane and the Monitor will not be able to agree upon a plan of compromise or
arrangement or that such a plan, if agreed to by Tamerlane and the Monitor, is
not acceptable to Global and/or other creditors for any reason whatsoever, (6)
that Tamerlane may not have the funds required to reimburse Global for certain
expenditures, (7) that any such plan of compromise or arrangement may not be
approved by the Court, (8) that any plan of compromise or arrangement that is
approved by the creditors and the Court may not be successfully implemented for
whatever reason or may not maximize value for all stakeholders, (9) that the
duration of CCAA protection may not be extended beyond September 22, 2013, (10)
that other parties may challenge the Order or any other order in the CCAA
proceeding, (11) that other parties may challenge the Charge given to Global,
(12) a downturn in general economic conditions in North America and
internationally, (13) volatility and fluctuation in the prices of lead, zinc and
copper, (14) volatility and fluctuation in the price of the Company's stock and
stock of resource issuers generally, (15) the uncertainty involved in Court
proceedings and the implementation of a plan of restructuring under the CCAA,
and (16) other factors beyond the Company's control. Readers are cautioned that
the foregoing list of factors is not exhaustive. These and all subsequent
written and oral forward-looking information are based on estimates and opinions
of management on the dates they are made and expressly qualified in their
entirety by this notice. Except as required by law, the Company assumes no
obligation to update forward-looking information should circumstances or
management's estimates or opinions change. 


Neither the 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 PLEASE CONTACT: 
Tamerlane Ventures Inc.
Richard Meschke
Director Corporate Development and Legal
(360) 332-4636
rmeschke@tamerlaneventures.com
www.tamerlaneventures.com


PricewaterhouseCoopers Corporate Finance Inc.
Stephen Mullowney, CA, CFA
Director - Corporate Finance, Consulting & Deals
(416) 687-8511
stephen.r.mullowney@ca.pwc.com


Duff & Phelps Canada Restructuring Inc.
Bobby Kofman
Managing Director, Restructuring
(416) 932-6228
bobby.kofman@duffandphelps.com
www.duffandphelps.com

(TSXV:TAM)
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から 6 2023 まで 6 2024