TLC Ventures Appoints New President and CEO

December 15, 2004

Dr. Richard W. Henley, FAICD, Chairman of the Board of TLC Ventures Corp. (TLV.TSX Venture Exchange) is very pleased to announce the appointment of Dr. Sally Eyre as President, Chief Executive Officer and Director of the Company. Dr. Eyre holds a B.Sc. (Hons.) degree in Geology from Kingston University, England and a PhD. (Economic Geology) from the Royal School of Mines, Imperial College, London. Dr. Eyre has extensive experience in mineral exploration, corporate development and corporate communications. She has held executive positions with a number of mineral exploration and development companies including Manhattan Minerals and most recently with platinum producer Southernera Resources where she was Vice President Corporate Affairs. Dr. Eyre will be responsible for TLC Ventures strategic growth and overall management of the Company.

Dr. Henley stated: "We are very pleased to welcome Dr. Eyre to TLC Ventures as President, CEO and Director. Sally has a wealth of exploration experience and an extensive knowledge of the North American Mining Investment community that will ensure the Company's continued success."

Mr. Edward Farrauto has resigned as President and CEO of the Company and Mr. Nizar Bhamal has resigned as a Director to allow for Dr. Eyre's appointment. Mr. Farrauto will continue in his capacity as Director and CFO of the Company. The Board of Directors of TLC Ventures Corp. would like to thank Mr. Bhamal for his contributions to the Company. TLC Ventures has 13.7 million shares issued and outstanding with shareholders in Canada, the USA and Europe. The Company is currently completing a $6.25 million private placement financing with Haywood Securities acting as agent (see news release dated February 18th, 2004).

The Company has granted 300,000 stock options to Dr. Eyre at an exercise price of $2.10 valid for a period of five years from the date of grant, subject to regulatory approval.

TLC Ventures Corp. is a well funded, Vancouver, Canada, based mineral exploration company that is focused on the acquisition, advancement and development of gold and base metal assets around the world. The Company controls a 100% interest in the Point Leamington gold-rich massive sulphide deposit in Newfoundland, Canada. Gold Fields (through a wholly owned subsidiary) is also a significant equity owner in TLC Ventures controlling an approximate 9.5% equity interest in the Company.


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