Response to ASX Price Query

25 October 2013 TANGIERS PETROLEUM LIMITED Response to ASX Price Query The Directors of Tangiers Petroleum Limited (the "Company")(AIM:TPET, ASX:TPT)wishes to advise that it received a price query today from the AustralianSecurities Exchange ("ASX") in relation to the rise in the Company's shareprice in recent days. In response, the Company noted: * That it is not aware of any additional information which, if known, could be an explanation for recent trading in the Company's securities; and * Interest in offshore Morocco by oil companies and the impending drilling program in the neighbouring blocks to the Company's Tarfaya Offshore Block in Morocco, which is due to commence shortly, have contributed to the increase in activity and price movement in the Company's fully paid ordinary shares on AIM and ASX. In addition, the Company's $0.16 listed options (ASX: TPTOA) ceased trading as at the close of business on 24 October 2013 and this may have also increased trading in the fully paid ordinary shares. 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 Shore 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