Tamerlane Ventures Inc. announced that the company has terminated its Option Agreement with Panarc Resources Ltd., covering eleven claims in the Northwest Territories, known as Indian Mountain Lake. The Indian Mountain Lake Option Agreement was originally announced on January 9, 2012. Tamerlane terminated the option as part of initiatives designed to focus all management resources on the development of the Pine Point project, where the finding costs are considerably less, and in view of the current financing environment, where exploration funds are tight.