Tamerlane Announces $2 Million Equity Financing

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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) today
announced that, subject to approval of the TSX Venture Exchange, it will
complete a non-brokered private placement of 32,375,000 units at a subscription
price of C$0.0618 per unit for gross proceeds of C$2 million. Each unit will
comprise one common share and one-half of one common share purchase warrant.
Each whole common share purchase warrant will entitle the holder to purchase an
additional common share at an exercise price of C$0.11 per share for a period of
24 months. All of the securities issued under this private placement will be
subject to a four-month hold period. The private placement is expected to close
as soon as possible.


The private placement announced today will be made by a single private investor,
R. Christopher Charlwood of Vancouver, Canada, who has followed Tamerlane for
over 8 years. It is anticipated that, upon closings of the private placement,
the previously announced flow-through financing and the issuance of shares to
Global Resource Fund for the loan extension, the investor will hold
approximately 19.9% of the total issued and outstanding shares of Tamerlane. All
transactions are expected to close on or before January 31, 2013. 


The proceeds from this private placement, in addition to the 12-month extension
of the bridge loan, will provide the Company with sufficient liquidity and
operating capital to carry on with various initiatives currently under way aimed
at growing the Company and enhancing shareholder value. Specifically, these
initiatives include securing a significant project financing for Tamerlane's
Pine Point Project and the monetization of other Company assets, in particular
the Los Pinos Copper Project in Peru. In addition, the flow-through financing
announced on December 20, 2012 will fund exploration programs at the Company's
various projects located in Canada's Northwest Territories.


The Company is pleased to announce the partial closing of the flow-through
private placement announced on December 20, 2012, consisting of the issuance of
3,200,000 flow-through shares at a price of $0.05 per flow-through share for
proceeds of $160,000. No warrants were issued, and no finder's fees were paid,
in connection with this placement. The balance of the flow-through private
placement remains open and is expected to close in January 2013 as indicated
above.


Mr. Mike Willett, Tamerlane's CEO, commented on the prospects for 2013, "The
last two years have been extremely challenging for the entire industry, with
weak spot metals prices for zinc and lead, unprecedented negativity toward the
junior mining sector among equity market participants, and extremely tight
capital investment in new mining projects. Despite such conditions, beginning
next year, several large zinc mines will be closing or decreasing production as
they near the end of their reserves. This fact, combined with insufficient
replacement supply scheduled to come on line in the near term and steadily
increasing demand, is expected to push zinc and lead prices to much higher
levels." 


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 is
also reviewing strategic alternatives for 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
(TSXV:TAM)
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