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Tan Range Exploration Corporation

Tan Range Announces Return of Itetemia and Katente Mineral Licenses From Barrick Gold

Vancouver, Canada, November 23 (ots/PRNewswire)

James E.
Sinclair, Chairman of Tan Range Exploration Corporation, is  pleased
to announce that Barrick Gold has returned the Itetemia and Katente
mineral licenses to the Company. Both projects are situated in the
prospective Lake Victoria gold district of Tanzania.
Barrick informed Tan Range that gold resources from Itetemia were
incompatible with Barrick's milling process at its nearby Bulyanhulu
mill,  and therefore would require development on a stand-alone
basis.
"We are pleased by the return of Itetemia and Katente and the
elimination of their percentage arrangements," said Mr. Sinclair. He
noted  that percentage joint venture arrangements often have gold
derivatives  imbedded in senior project financing that contain
potential risks the  junior partner must accept.
Tan Range plans to continue exploring both properties using our
own  drilling equipment and in-house biogeochemical techniques, which
provide  the ability to identify targets under the deep mbuga soils
common to  Tanzanian projects. The Company will seek a royalty
transaction for future  development of these properties, assuming
ongoing success in expanding  resources.
Barrick returned the Katente license, part of the company's larger
Ushirombo project, as it also requires development on a stand-alone
basis.  Barrick identified a modest resource at Katente, but found it
was not  amenable for processing at the Bulyanhulu mill, which
primarily treats  copper-gold ores.
Tan Range will continue exploring Katente using its own
biogeochemical  methods and drilling equipment. The Company will also
seek an arrangement  with claim-holders within the license.
Barrick has expressed interest in the multiple-license Lunguya
Project  Area, and discussions with them are continuing.
"I take special pleasure in proceeding with exploration of both
properties," Mr. Sinclair said. "We remain positive of their
potential and  welcome their return."
Tan Range is one of the largest landholders in Tanzania, with more
than  120 prospecting licenses covering 8,100 square miles.
On Behalf of the Board of Directors
"James E. Sinclair"
James E. Sinclair
Chairman and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Cautionary Note to U.S. Investors - The United States Securities
and  Exchange Commission permits U.S. mining companies, in their
filings with  the SEC, to disclose only those mineral deposits that a
company can  economically and legally extract or produce. We use
certain terms on this  news release, such as "measured", "indicated",
and "inferred" "resources"  that the SEC guidelines strictly prohibit
U.S. registered companies from  including in their filings with the
SEC. U.S. Investors are urged to  consider closely the disclosure in
our Form 20-F, File No. 0-50634, which  may be secured from us, or
from the SEC's website at  http://www.sec.gov/edgar.shtml.

Contact:

For further information: please contact Investor Relations at
+1-604-669-5598; Visit the Tan Range website: www.tanrange.com; To
request a free copy of this organization's annual report, please go
to http://www.newswire.ca and click on reports@cnw.

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Plus de actualités: Tan Range Exploration Corporation