Issue of Equity

14 Nov 2012 07:00

14 November 2012 TANGIERS PETROLEUM LIMITED ISSUE OF SHARES

Tangiers Petroleum Limited (the Company) announces that it has issued 7,137,216 fully paid ordinary shares under the Share Purchase Plan ("SPP") as previously announced on 3 October 2012. The Company has applied for the new shares to be admitted to trading on both the ASX and AIM markets. Trading in the new shares on AIM is expected to commence on or around 16 November 2012.

Following the placement, the Company has the following securities on issue:

Number Class 122,554,576 Fully paid ordinary shares 44,149,645 ASX-listed Options (TPTOA) exercisable at A$0.16 on or before 31 October 2013 1,000,000 Unlisted options exercisable at A$0.22 on or before 19 July 2014 6,000,000 Unlisted options exercisable at A$0.60 on or before 16 December 2014 1,000,000 Unlisted options exercisable at A$0.22 on or before 16 December 2014 500,000 Unlisted options exercisable at A$0.50 on or before 2 April 2015 3,274,124 Unlisted options exercisable at A$0.60 on or before 2 April 2015 3,500,000 Unlisted options exercisable at A$0.70 on or before 2 April 2015 300,000 Unlisted options exercisable at A$0.70 on or before 10 April 2016 KRYSTEL KIROUJoint Company SecretaryTangiers Petroleum LimitedLevel 6, 5 Mill StreetPerth WA 6000, AustraliaPh: + 61 8 9485 0990 www.tangierspetroleum.comContactsRFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+ 61 8 9480 2506Old Park Lane Capital PLC (Joint AIM Broker)Mr Michael ParnesMr Luca Tenuta+ 44 20 7493 8188Shore Capital Stockbrokers Ltd (Joint AIM Broker)Mr Jerry KeenMr Bidhi Bhoma+ 44 20 7408 4090

Mr Ed Portman (Media and Investor Relations - United Kingdom) Tavistock Communications + 44 20 7920 3150