TNR Gold Corp.

TNR Gold Corp.

July 20, 2009 18:34 ET

TNR Gold Oversubscribes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2009) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") is pleased to announce that due to the high level of interest in its recent financing, the Company has increased the size of the private placement originally announced on July 6th, 2009.

TNR is now in receipt of subscriptions totaling 5,900,000 units at a price of $0.20 per unit for gross proceeds of $1,180,000 (the "Offering"). Each Unit consists of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.30 for a period of twelve months from the date of closing.

A large portion of the Offering is a welcomed strategic investment from Canada Zinc Metals -- a mineral exploration company focused on unlocking the potential of a world class zinc-lead-silver district in British Columbia, Canada. It is the dominant land holder in an extensive mineral belt known as the Kechika Trough which hosts in excess of 80 million tonnes of base metal resources. Significant shareholders of Canada Zinc Metals include Lundin Mining Corp. (TSX:LUN) and Tongling Nonferrous Metals Group Holdings Co. Ltd. Tongling, which currently holds a 13 per-cent equity position in Canada Zinc Metals, is one of China's largest copper smelting companies and ranked in the top 100 large-scale industry enterprises in China. Tongling's principal activities are exploration, mining, ore processing, smelting and refining and products processing of copper, lead, zinc, gold, silver and other non-ferrous and rare metals. TNR's portfolio of lithium and rare metal properties is attracting interest from investors around the world.

TNR's Non-Executive chairman, Mr. Kirill Klip, will be taking a significant portion of the financing along with other insiders and management.

All securities issued pursuant to this Offering are subject to a 4-month hold period from the date of closing. The Offering is subject to TSX Venture Exchange approval and any regulatory approvals, which the company expects within the next few days.

Proceeds of the Offering will be used to fund the evaluation of TNR's Lithium and Rare Metal properties, implement the proposed spin-off of International Lithium Corp. and for general corporate purposes.


TNR is a diversified metals exploration company focused on identifying and exploring existing properties in Argentina and Alaska and new prospective projects globally. Upon approval of pending licences in Ireland, TNR will have a total portfolio of 32 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.

It is anticipated that TNR shareholders of record will receive one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit

The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the Company's commitment to project generation, market diversity and building shareholder value.

On behalf of the board,

Gary Schellenberg, Chairman and CEO

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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