Lapse of Takeover Bid

18 March 2014 TANGIERS PETROLEUM LIMITED Lapse of Takeover Offer for Jacka Resources Tangiers Petroleum Limited ("Tangiers" or the "Company") confirms that theoffer period for its off-market takeover bid for all the shares and listedoptions in Jacka Resources Limited (ASX:JKA) (Jacka) closed at 7.00pm (Sydneytime) on 18 March 2014. The minimum acceptance conditions to the offers under Tangiers' takeover bidwere not met at that time. Accordingly, the offers have now lapsed. Holders who accepted the offers have had their holdings released by Tangiers'bid agent, Computershare, and are now free to manage their securities as theysee fit, subject to the ongoing suspension of Jacka securities on the ASX. A Notice of Ceasing to be a Substantial Holder (Form 605) has been lodged withASIC and the ASX and is available from the Company's website. This notice setsout that as of 18 March 2014, Tangiers (on behalf of itself and each of itscontrolled entities) released 51,622,514 shares in Jacka, due to the lapsing ofthe offers. 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