Statement re Share Price

29 October 2014 TANGIERS PETROLEUM LIMITED SHARE PRICE The Company notes the rise in its share price today and confirms it knows of noreason for such movement. As stated on 19 September 2014 the Company has raised funds to be used forworking capital and the assessment of new ventures. Further updates will bemade as and when appropriate. For Further information, please contact: David WallManaging Director Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990www.tangierspetroleum.com Contacts RFC Ambrian Limited As Nominated AdviserMr Oliver Morse / Ms Trinity McIntyre+61 8 9480 2500 As Corporate BrokerMr Charlie Cryer+44 20 3440 6800 Mr Ed Portman (Media and Investor Relations - United Kingdom)Tavistock Communications+44 20 7920 3150