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 received and will file on SEDAR later this week
a National Instrument ("NI") 43-101 Summary Technical Report for development of
its Pine Point Project in the Northwest Territories, Canada. This positive
Technical Report was prepared by Albert Siega, P.Eng., MBA, an independent
engineering and project consultant.


Tamerlane has taken the positive feasibility reports for the Pine Point Project
prepared in 2012 for the R-190 and N-204 deposits, and combined these results
with the upgraded Measured and Indicated Resources of seven Main Trend deposits
and two North Trend deposits referred to as the Cluster Pits. This Technical
Report encompasses an operating scenario that begins operations with mining of
the high grade, fully permitted R-190 underground deposit after a two-year
construction window. The Cluster Pits are mined in series in years 2 through 7,
followed by five years of mining from the reserves at N-204. In total the
Technical Report covers a 12-year mine plan. The plan for the Cluster Pits calls
for a centralized dense media separation plant to produce a pre-concentrate that
will be trucked for final processing at the R-190 facility. 


HIGHLIGHTS FROM THE SUMMARY TECHNICAL REPORT

The Summary Technical Report Reserves and Resources are presented below in Table
1. Table 2 provides the Highlights from the Summary Technical Report. Table 3
provides a summary of cash costs for the Base Case ($.95 zinc and $1.00 lead).




Table 1: Reserves and Resources                                
                                                               
---------------------------------------------------------------
          Classification                                       
Deposit   (Diluted and Recovered)        Tonnes     %Zn     %Pb
---------------------------------------------------------------
R-190     Reserve                     1,050,000   10.08    4.85
---------------------------------------------------------------
J-68      Resource                      268,296    5.76    2.66
---------------------------------------------------------------
HZ        Resource                    1,685,396    3.67    2.69
---------------------------------------------------------------
W-85      Resource                    3,452,112    4.11    2.38
---------------------------------------------------------------
X-65      Resource                    2,510,470    3.65    1.45
---------------------------------------------------------------
M-67      Resource                      683,884    4.76    1.21
---------------------------------------------------------------
K-68      Resource                    1,031,926    2.78    0.84
---------------------------------------------------------------
M-62/63   Resource                      974,040    2.29    0.93
---------------------------------------------------------------
O-53      Resource                      274,812    2.71    0.83
---------------------------------------------------------------
N-204     Reserve                    12,800,000    2.60    0.70
---------------------------------------------------------------
                                                                        
Table 2: Summary of Cash Flow Showing Sensitivities to Discount Rate    
                                                                        
------------------------------------------------------------------------
                                                     Base Case          
------------------------------------------------------------------------
                                                After Tax        Pre Tax
                                                (US$'000)      (US$'000)
------------------------------------------------------------------------
Cumulative Net Cash Flow (Undiscounted)           221,559        374,249
------------------------------------------------------------------------
Discounted at 5%                                  144,653        220,185
------------------------------------------------------------------------
Discounted at 8%                                  111,681        175,919
------------------------------------------------------------------------
Discounted at 10%                                  93,837        151,808
------------------------------------------------------------------------
Internal Rate of Return                               35%            48%
------------------------------------------------------------------------
Payback Period (years)                                2.2            1.7
------------------------------------------------------------------------
Total Start-up Capital                            118,000        118,000
------------------------------------------------------------------------
Total Life of Mine Capital                        167,000        167,000
------------------------------------------------------------------------
Projected Life of Mine                                 12             12
------------------------------------------------------------------------



Please see Assumptions below Table 3.



Table 3: Summary of Cash Costs - Base Case                                  
                                                                            
----------------------------------------------------------------------------
                                                                    Cost per
                                                                       Pound
                                                     Cost per    Zinc & Lead
                                     LOM Total    Tonne Mined        Payable
                                      (US'000)  (US$/t Mined)       (US$/lb)
----------------------------------------------------------------------------
Payable Metal Cash Cost                                                     
----------------------------------------------------------------------------
Mining                                 373,390          15.31           0.19
----------------------------------------------------------------------------
Processing                             270,674          11.47           0.15
----------------------------------------------------------------------------
G&A                                     68,160           2.79           0.03
----------------------------------------------------------------------------
Treatment Charges and                                                       
 Transportation                        558,870          22.92           0.28
----------------------------------------------------------------------------
Royalties (NWT + Karst)                 88,870           3.64           0.05
----------------------------------------------------------------------------
Total                                1,368,864          56.13           0.70
----------------------------------------------------------------------------



Please see Assumptions below.

Assumptions



--  Zinc price of US$0.95/lb and lead price of US$1.00/lb Base Case over
    life of mine. 
--  Metal prices are based on a three-year trailing average price. Many
    studies show zinc prices peaking to over $1.25 from 2017 to 2022. Delays
    in financing and in production may increase the risk of not realizing
    the benefits of forecasted high metal prices. 
--  NPV is as of 2014. A 20% contingency has been applied to the capital
    expenditure direct estimates for the Cluster Pits and N-204; and a 10%
    contingency has been applied to the capital expenditure direct estimates
    for R-190. Corporate income tax rate of 26.5% (combined federal and
    territorial). 
--  No contaminant penalties were charged for the lead and zinc
    concentrates. 
--  Cash cost/pound of zinc and zinc equivalent represents a finished metal
    basis covering all operating costs, taxes, royalties, transportation,
    smelting and selling costs. 
--  A 10% contingency has been applied to all direct mining and processing
    costs of the project. 
--  R-190 will be mined by an independent mining contractor. 
--  All mining equipment for the open pit deposits will be leased.



Pine Point Project

The Pine Point Project is designed to start with the fully permitted and high
grade underground R-190 deposit. R-190 will be accessed by ramp to the bottom of
the deposit at the 170 meter level. The orebody will be extracted using an open
stope long hole cut and fill mining method. Ore will be trucked to surface,
crushed and run through a dense media separation plant. The pre-concentrate will
be processed through a conventional lead-zinc concentrator to produce a 62% zinc
concentrate and a 72% lead concentrate. Mine tonnage will be 2,800 tonnes per
day, producing a mill feed of 1,800 tonnes per day. Due to water conditions in
the R-190 area, the mine will be developed inside a freeze ring. Tamerlane
anticipates mining the R-190 deposit using a contract mining service.


Upon commencement of underground production, the first Cluster Pit open pit
deposit is scheduled to be permitted and pre-stripped, providing a second feed
source for the R-190 concentrator. The Cluster Pit deposits will be
pre-concentrated through a centrally placed dense media separation plant to be
located 37 km from the R-190 concentrator. Upon completion of R-190 underground
mine, the Cluster Pits will provide six years of mill feed through the 6,000 ton
per day crushing and dense media separation facility. 


In year 8 Tamerlane will move the dense media separation facility from the
Cluster Pit location to N-204. The dense media separation facility will be
upgraded to process 7,000 tonnes per day. The N-204 reserves will support five
years of additional operations, bringing the total mine life to 12 years.
Additional underground reserves and historic open pit resources are available
for supplementing production or extending the mine life.


Zinc and lead concentrates produced at the R-190 concentrator will be trucked to
the Hay River, NWT rail loadout facility. Concentrates can be moved from Hay
River to the West Coast of Canada or East Coast of Canada for ocean transport to
any smelting location in Asia or Europe. The railroad also provides access to
other smelting locations in North America.


Pine Point is also a premier exploration location. The zinc and lead mineralized
trends run for over 65 km through the Pine Point Project. Many areas of the
mineralized trends are under-explored due to their excessive haulage distance
from the previous Pine Point concentrator which was located at the former town
of Pine Point. In 2006 Tamerlane conducted geophysical studies that identified
an additional 34 geophysical anomalies that will be explored once the operation
is producing. In the main trend and to the northwest of the underground reserve
deposit at G-03, there is a 15 km stretch of ground that is virtually
unexplored. As Pine Point hosts a deposit on average every 1.5 km throughout the
Main Trend, additional deposits are anticipated through this stretch of land
which is within reasonable haulage distance to R-190.


The Pine Point Project is a brownfield project. After operating for more than 20
years, Pine Point Mines Ltd. (Cominco) closed its operation in 1987 due to low
metal prices, long haul distances and the cost of supporting the town of Pine
Point. Tamerlane has no plans for a new town due to the close proximity of Hay
River to the R-190 mine and concentrator. Long haul distances are no longer an
issue because of pre-concentration at the mine site using the dense media
separation plant, resulting in the haulage of a significantly higher grade
material to the centralized milling facility.


Sensitivity and Treatment Charges

The author has included the Base Case NPV Sensitivity to Metal Prices,
calculated using an 8% Discount Rate, in Table 4. Base Case prices were obtained
using three year trailing prices for both zinc and lead. Treatment charges in
the Base Case are the benchmark treatment charges for 2013 as established in the
first quarter of 2013 at $204 per tonne for zinc concentrate and $160 per tonne
for lead concentrate. Hence, when zinc and lead prices drop, mines will shut
down, making the availability of concentrate tight. Due to lack of concentrate,
smelters will lower their treatment charges in an attempt to secure smelter
feed. Additionally, as metal prices go down the price participation by the
smelter is reduced and smelting refining costs to the miner are reduced.




Table 4: NPV Sensitivity, Base Case                                         
                                                                            
                      NPV Sensitivity to Metal Prices - 8% Discount         
             Base Case: Treatment Charges of $204 for Zinc and $160 for Lead
                                  Zinc Price (US$/ lb)                      
            ----------------------------------------------------------------
                                 $0.75              $0.85              $0.95
            ----------------------------------------------------------------
Lead Price  $0.75        ($41,528,076)        $13,782,626        $61,526,918
(US$/lb)                                                                    
            $0.85        ($18,341,192)        $34,739,413        $81,581,021
            $0.95           $4,354,825        $55,076,552       $101,651,822
                                                         -------------------
            $1.00          $15,524,508        $65,105,332       $111,680,545
                                                         -------------------
            $1.15          $47,935,507        $95,203,619       $141,779,593
            ----------------------------------------------------------------
                   At $0.95 Zinc and $1.00 Lead:                            
                   IRR                                                   35%
                   Breakeven Cash Cost (Zn Equiv)                      $0.70
                   NPV @ 8% (millions)                                  $112

Table 4: NPV Sensitivity, Base Case                                         
                                                                            
                      NPV Sensitivity to Metal Prices - 8% Discount         
             Base Case: Treatment Charges of $204 for Zinc and $160 for Lead
                                  Zinc Price (US$/ lb)                      
            ----------------------------------------------------------------
                                 $1.05              $1.15              $1.25
            ----------------------------------------------------------------
Lead Price  $0.75         $108,090,765       $154,341,305       $200,198,829
(US$/lb)                                                                    
            $0.85         $128,147,005       $174,198,010       $220,058,220
            $0.95         $148,203,042       $194,070,726       $239,931,643
                                                                            
            $1.00         $158,135,060       $204,002,436       $249,861,159
                                                                            
            $1.15         $187,939,077       $233,804,004       $279,665,734
            ----------------------------------------------------------------
                                                                            
                                                                            
                                                                            



Table 5 shows the effects of reduced metal prices on NPV8 when the zinc and lead
markets are taken into consideration and the effect they will have on treatment
charges. Less available metal from the mines, in the form of concentrates, will
come under a true "supply and demand" scenario resulting in the smelters' need
to compete for their feedstock resulting in falling treatment charges. Table 2
uses realistic numbers for a shortage situation with treatment charges at $120
for zinc and $90 for lead. The pricing at $.75 zinc and $.85 lead yields a NPV8
of $31M and an IRR of 17%.




Table 5: NPV Sensitivity, Low Metal Price                                   
                                                                            
                      NPV Sensitivity to Metal Prices - 8% Discount         
            Low Metal Price Case: Treatment Charges of $120 for Zinc and $90
                                         for Lead                           
                                  Zinc Price (US$/ lb)                      
            ----------------------------------------------------------------
                                 $0.75              $0.85              $0.95
            ----------------------------------------------------------------
Lead        $0.75           $9,460,035        $58,019,663       $104,592,597
 Price(US$/                                                                 
 lb)                                                                        
                   -------------------                                      
            $0.85          $30,856,351        $78,074,432       $124,648,867
                   -------------------                                      
            $0.95          $51,590,676        $98,141,921       $144,718,389
            $1.00          $61,621,740       $108,170,712       $154,738,977
            $1.15          $91,719,129       $138,271,779       $184,540,645
            ----------------------------------------------------------------
                   At $0.75 Zinc and $0.85 Lead:                            
                   IRR                                                   17%
                   Breakeven Cash Cost (Zn Equiv)                      $0.61
                   NPV @ 8% (millions)                                   $31

Table 5: NPV Sensitivity, Low Metal Price                                   
                                                                            
                      NPV Sensitivity to Metal Prices - 8% Discount         
            Low Metal Price Case: Treatment Charges of $120 for Zinc and $90
                                         for Lead                           
                                  Zinc Price (US$/ lb)                      
            ----------------------------------------------------------------
                                 $1.05              $1.15              $1.25
            ----------------------------------------------------------------
Lead        $0.75         $150,934,048       $196,803,850       $242,660,664
 Price(US$/                                                                 
 lb)                                                                        
                                                                            
            $0.85         $170,793,629       $216,661,953       $262,518,956
                                                                            
            $0.95         $190,663,135       $236,531,151       $282,392,610
            $1.00         $200,593,889       $246,464,673       $292,320,526
            $1.15         $230,396,858       $276,267,332       $322,124,856
            ----------------------------------------------------------------
                                                                            
                                                                            
                                                                            



Table 6 shows the reverse scenario where metal prices are elevated and
additional mine production comes back into the market. With additional
concentrate production entering the market because of higher prices, the
smelters once again will have greater control over the market and will increase
treatment charges and become more selective in attempting to acquire
concentrates that maximize smelter revenues, such as poorer grade concentrates
with higher levels of precious metals. Penalties will elevate as the smelters
have additional control in negotiations. Pine Point has no issues with impurity
penalties or precious metals content. Based on past production, Pine Point
concentrates were among the cleanest concentrates in the world and were required
by smelters to blend with poorer grade materials to optimize smelter throughput.
As the cleanest concentrates in the world, penalties have not been charged to
Pine Point concentrates in more than 20 years of past operation. 


Table 6 illustrates a high metal price scenario where treatment charges are
elevated to reflect the market and are set at $250 for zinc and $180 for lead.
The pricing at $1.25 zinc and $1.15 lead yields a NPV8 of $259M.




Table 6: NPV Sensitivity, High Metal Price               
                                                         
            NPV Sensitivity to Metal Prices - 8% Discount
             High Metal Price Case: Treatment Charges of 
                    $250 for Zinc and $180 for Lead      
                         Zinc Price (US$/ lb)            
            ---------------------------------------------
                                 $0.75              $0.85
            ---------------------------------------------
Lead Price  $0.75        ($70,181,191)      ($10,437,851)
(US$/lb)                                                 
            $0.85        ($44,909,655)        $11,806,787
            $0.95        ($20,846,267)        $33,242,296
            $1.00         ($9,293,548)        $43,661,618
                                                         
            $1.15          $24,441,186        $74,068,646
                                                         
            $1.25          $46,358,510        $94,135,745
            ---------------------------------------------
                   At $1.25 Zinc and $1.15 Lead:         
                   IRR                                   
                   Breakeven Cash Cost (Zn Equiv)        
                   NPV @ 8% (millions)                   
                                                         

Table 6: NPV Sensitivity, High Metal Price                                  
                                                                            
                      NPV Sensitivity to Metal Prices - 8% Discount         
              High Metal Price Case: Treatment Charges of $250 for Zinc and 
                                      $180 for Lead                         
                                  Zinc Price (US$/ lb)                      
            ----------------------------------------------------------------
                                 $0.95              $1.05              $1.15
            ----------------------------------------------------------------
Lead Price  $0.75          $40,387,415        $86,953,109       $133,509,874
(US$/lb)                                                                    
            $0.85          $60,444,532       $107,008,811       $153,369,847
            $0.95          $80,513,288       $127,079,227       $173,241,493
            $1.00          $90,544,311       $137,108,481       $183,173,156
                                                                            
            $1.15         $120,642,019       $167,108,023       $212,973,588
                                                                            
            $1.25         $140,712,003       $186,979,149       $232,847,110
            ----------------------------------------------------------------
                                                                            
                                   59%                                      
                                 $0.76                                      
                                  $259                                      
                                                                            

Table 6: NPV Sensitivity, High Metal Price               
                                                         
            NPV Sensitivity to Metal Prices - 8% Discount
             High Metal Price Case: Treatment Charges of 
                    $250 for Zinc and $180 for Lead      
                         Zinc Price (US$/ lb)            
            ---------------------------------------------
                                 $1.25              $1.50
            ---------------------------------------------
Lead Price  $0.75         $179,368,799       $294,023,584
(US$/lb)                                                 
            $0.85         $199,226,775       $313,883,118
            $0.95         $219,098,200       $333,754,922
            $1.00         $229,029,237       $343,685,231
                   -------------------                   
            $1.15         $258,834,011       $373,490,183
                   -------------------                   
            $1.25         $278,706,068       $393,359,551
            ---------------------------------------------
                                                         
                                                         
                                                         
                                                         



All three pricing scenarios ignore the reality that a portion of the
concentrates will be sold at spot treatment charges which are currently in the
$120 - $130 range for zinc and in the $90 - $100 range for lead.


ADDITIONAL RESERVES NOT INCLUDED FOR MINING IN THIS STUDY

Six underground deposits were classified as Reserves in a Technical Report in
2008 (PAH, 2008). Of the six deposits only R-190 has been included in this
Summary Technical Report. The remaining underground Reserves are included in
Table 7.




Table 7: Underground Reserves not       
 included for mining in this study      
                                        
----------------------------------------
DEPOSIT           TONNES     %Zn     %Pb
----------------------------------------
X-25           2,108,000    6.73    2.32
----------------------------------------
P-499            892,000    5.87    2.68
----------------------------------------
O-556          1,030,000    3.67    2.68
----------------------------------------
Z-155            775,000    5.02    2.73
----------------------------------------
G-03           1,980,000    4.97    3.03
----------------------------------------
    TOTAL      6,785,000    5.44    2.68
----------------------------------------
                                                                           
ADDITIONAL HISTORIC RESOURCES(i) NOT INCLUDED FOR MINING IN THIS STUDY     
                                                                           
                                                                           
Table 8: Historical Resources(i) not included for mining in this study     
                                                                           
---------------------------------------------------------------------------
HISTORICAL RESOURCES NOT IN TAMERLANE RESERVES AND RESOURCES               
---------------------------------------------------------------------------
               RESOURCE TYPE                           TONNES    Zn%    Pb%
---------------------------------------------------------------------------
INDICATED(i) -- Prismatic Open Pit                  1,446,010   6.25   2.39
INDICATED(i) -- Tabular Open Pit                    7,686,980   4.13   1.29
INDICATED(i) -- Underground                         2,050,660   8.02   3.71
INFERRED(i) -- Prismatic, Open Pit                  5,379,700   3.20    1.1
INFERRED(i) -- Tabular Open, Pit                    5,310,000   4.01   1.30
INFERRED(i) -- Underground                          6,883,900   2.82   0.88
---------------------------------------------------------------------------
(i) This is historical nomenclature and is not 43-101                      
 qualified                                                                 
                                     TOTAL         28,757,250   4.00   1.39
---------------------------------------------------------------------------



(i) The historical estimates presented above 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.


The NI 43-101 Summary Technical Report will be filed on SEDAR by Friday,
September 6, 2013. The NI 43-101 Summary Technical Report was authored by Albert
Siega, P.Eng., MBA. Mr. Siega has verified the data in the news release that
pertains to the Summary Technical Report.


Readers are cautioned that the conclusions, projections and estimates set out in
this press release are subject to important qualifications, assumptions and
exclusions, all of which are detailed in the Summary Technical Report. To fully
understand the summary information set out above, the Summary Technical Report
that is filed on SEDAR at www.sedar.com should be read in its entirety.


Ross Burns, P.Geo., Director of Tamerlane has reviewed the information contained
in this news release and is a Qualified Person as defined under National
Instrument 43-101.


John Key, President and CEO of Tamerlane, commented, "I am pleased with the
results of the NI 43-101 study and technical report. The restart of the Pine
Point mining operation is extremely low risk. The capital costs for the project
are well defined and with 23 years of past production to rely upon, there is
very little operational risk. Many studies by reputable research firms are
showing future zinc prices at $1.25 per pound and lead over $1.00 per pound.
Lead is already trading at this target price. We are hopeful that with
PricewaterhouseCoopers, our financial advisor in our restructuring process, a
partner/investor and/or purchaser will be identified that will assist the
Company in executing on the opportunities reflected in the NI 43-101 report."


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. PricewaterhouseCoopers Corporate Finance Inc. ("PwC") has
been engaged as the Company's financial advisor for the CCAA sale and investment
solicitation process. Contact information for Stephen Mullowney of PwC is
provided below. The CCAA restructuring process is subject to timelines, and
interested parties are encouraged to contact PwC to obtain more information.


John L. Key, Chief Executive Officer

Tamerlane Ventures Inc.

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.


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. 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 in this press release, including: (i)
that Tamerlane will be able to restructure its financial affairs; (ii) that
Tamerlane and the Court-appointed Monitor will formulate a plan of compromise or
arrangement under the CCAA Proceeding acceptable to the Company's creditors;
(iii) that the Court will approve of any proposed restructuring plan, (iv) that
the Company and the Monitor will be able to implement any restructuring plan
that has been approved; (v) that a transaction that restructures the affairs of
the Company in such a way that maximizes value to all stakeholders will be
completed; and (vi) 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. Additional 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.
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