ASX Share Application pursuant to Takeover Offer

24 January 2014 TANGIERS PETROLEUM LIMITED ASX Share Application pursuant to Takeover Offer by Tangiers for Jacka Tangiers Petroleum Limited ("Tangiers" or the "Company") advises that inrelation to the announced Recommended Takeover Offer by Tangiers for JackaResources Limited ("Jacka")(see announcement on 5 December 2013), the Companyhas applied to ASX for the quotation of the shares and listed options that willbe issued as consideration to the relevant Jacka securityholders. The ultimate number and timing of the issue is not currently known, however,the maximum number of securities that will be issued under the Takeover Offeris expected to be 156,455,990 shares and 23,400,000 listed options exercisableat A$0.75 with an expiry of 1 February 2015. Application for the quotation ofthe Tangiers shares on AIM will be made as soon as possible after allotment. ROBERT DALTONJoint Company Secretary Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990www.tangierspetroleum.com Contacts RFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+61 8 9480 2506 Peel Hunt LLP (Joint AIM Broker)Mr Richard CrichtonMr Andy Crossley+ 44 20 7418 8900 Mr Ed Portman (Media and Investor Relations - United Kingdom)Tavistock Communications+44 20 7920 3150