Share Purchase Plan

3 Oct 2012 07:00

3 October 2012 TANGIERS PETROLEUM LIMITED Share Purchase Plan

Tangiers Petroleum Limited is pleased to advise that the Share Purchase Plan ("SPP") previously announced on 21 and 24 September 2012 will open on 8 October 2012 to eligible shareholders. A letter to shareholders and detailed terms and conditions will be available from the Company's website at www.tangierspetroleum.com. SPP documents should be received by eligible shareholders in the next week.

The SPP is open to shareholders who were registered holders of fully paid ordinary shares in the Company at the record date of 20 September 2012 and eligible shareholders will be able to apply for shares worth up to $15,000 under the SPP. Shares issued under the SPP will be priced at A$0.28, which is the same price as the recent capital raisings undertaken by the Company. The SPP will close at 5pm AEDT on 2 November 2012.

Tangiers Petroleum LimitedLevel 6, 5 Mill StreetPerth WA 6000, AustraliaPh: +61 8 9485 0990

www.tangierspetroleum.com

For more information, please contact:

Nominated AdvisorRFC Ambrian LimitedMr Stuart Laing+ 61 8 9480 2506Joint AIM BrokerOld Park Lane Capital PLCMr Michael ParnesMr Luca Tenuta+ 44 20 7493 8188Joint AIM BrokerShore Capital Stockbrokers LtdMr Jerry KeenMr Bidhi Bhoma+ 44 20 7408 4090

Media and Investor Relations:

Australia Mr Paul Armstrong Read Corporate + 61 8 9388 1474 0421 619 084 United Kingdom Mr Ed Portman Tavistock Communications + 44 20 7920 3150