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Abonner Tan Range Exploration Corporation

Tan Range Exploration Corporation

Tan Range Chairman and CEO Agrees to new Private Placement Subscription Agreement

Vancouver, Canada (ots/PRNewswire)

The Company reports that,
following the completion of the recently  announced 23rd tranche of
the current Private Placement Subscription  Agreement dated March 5,
2003 (the "Current Agreement"), James E. Sinclair,  Chairman and CEO
of the Company, will have subscribed thereunder for common  shares
aggregating CDN$2,825,000. In addition, in February 2004, Mr.
Sinclair concluded a further CDN$1,000,000 private placement,
bringing the  aggregate total to CDN$3,825,000, to fund exploration
work on the Company's  gold properties in the Lake Victoria
Greenstone Belt of Tanzania.
Mr. Sinclair has now confirmed his intention to enter into a new
Private Placement Subscription Agreement with the Company (the "New
Agreement") whereunder he will subscribe for a placement of common
shares  of the Company for an aggregate CDN$3,000,000. Under the New
Agreement, Mr.  Sinclair has agreed to subscribe to eight (8)
quarterly tranches of CDN$375 ,000 each, commencing February 1, 2005.
The pricing of each quarterly tranche will be based on the
weighted  average trading price of the Company's common shares for
the last five  consecutive trading days of each quarterly period.
Consistent with the  Current Agreement, no warrants, options or other
rights are to be issued or  granted and the placement common shares
will be subject to certain mandated  hold periods and resale
restrictions and the certificates representing such  shares will be
legended accordingly.
Each of these quarterly tranches will be subject to regulatory
approval.
On Behalf of the Board of Directors
"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: Investor Relations at 1-800-811-3855; 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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