Financial Report Update

31 March 2014

Tangiers Petroleum Limited (ASX : TPT; AIM : TPET) (Tangiers) advises that it has been granted relief by the Australian Securities and Investments Commission (“ASIC”) from lodging its financial report for the year ended 31 December 2013 (“Financial Report”) in accordance with  s319 (1)  of the Corporations Act 2001 and sending the Annual Report to Members in accordance with s315 (1) of the Corporations Act 2001.   ASIC has granted this relief until 30 April 2014 and 31 May 2014 respectively, therefore giving Tangiers an additional month to finalise the Financial Report and Annual Report.

Relief was sought as Tangiers is unable to achieve a Board quorum at present to be able to issue or sign the Financial Report.

In addition, ASIC has granted relief to Tangiers from holding its Annual General Meeting (“AGM”) in accordance with s250N of the Corporations Act 2001, giving Tangiers until 30 June 2014 to hold its AGM for the reason stated above and to accommodate the extensions of time referred to above.

Tangiers advises that it is well advanced in the selection process to appoint new directors to the board.  The Company’s first and foremost priority is to finalise the appointment of the directors and resume trading as soon as possible on the ASX and the AIM markets.

Robert Dalton

Joint Company Secretary

Tangiers Petroleum Limited