Tamerlane Ventures, Inc. (TSXV:TAM) is in negotiation with an interested party for sale in Los Pinos copper project. Tamerlane Ventures will use the proceeds to pay down the company's senior secured loan. "In addition, a sale of Los Pinos could provide a milestone to dramatically reduce Tamerlane's debt, restore its financial health and ease the way for Tamerlane," said John Key, Tamerlane's Chief Executive Officer.

Tamerlane Ventures, Inc. is seeking financing. Tamerlane hopes to secure the $140 million financing package for the Pine Point project via a combination of debt, off-take financing, and equity or project arranged by one of these four potential partners.

Tamerlane Ventures, Inc. announced that the Board of Directors, effective February 22, 2013, has appointed Mr. John L. Key as Chief Executive Officer of the company. Mr. Key brings 40 years of deep industry knowledge in both operations and senior management, including 28 years of experience at Cominco Ltd. and its successor Teck Cominco. Prior to joining Tamerlane, Mr. Key held several senior management and executive positions, including President and CEO of Gryphon Gold Corporation. The company also announced that, effective immediately, Mike Willett has resigned as Tamerlane's CEO, citing personal reasons.