Statement re Suspension

17 September 2014 TANGIERS PETROLEUM LIMITED Ongoing Suspension of Securities Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or the "Company")advises that the Company's securities continue to be suspended on both ASX andAIM pending the release of an announcement to the market in relation toTangiers' funding obligation for the TAO-1 exploration well, and release of thehalf yearly report. The Company expects the securities to re-commence trading on Wednesday 24September 2014. About Tangiers Petroleum: Tangiers Petroleum is an Australian-based oilexplorer with assets offshore Morocco in shallow water. Tangiers has a 25 percent participating interest in the Tarfaya Offshore Block, which is beingoperated by Galp Energia with a 50 per cent interest. The remaining 25 percentinterest is held by ONHYM (Morocco's National Office of Hydrocarbons andMines), which is carried through the exploration phase. SARAH SMITHJoint Company Secretary 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