SOURCE: Tara Gold Resources Corp.

October 30, 2006 08:00 ET

Tara Gold Acquires 100% of the La Millonaria Gold / Silver Property

CHICAGO, IL -- (MARKET WIRE) -- October 30, 2006 -- Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to announce that it has renegotiated the terms which established a 60/40 Joint Venture (announced June 28, 2005) with Minas Topago for the La Millonaria properties. New terms allow for the purchase of 100% of the La Millonaria Groupings from Minas Topago over a 5-year period.

The La Millonaria property consists of four mining concessions that total 875 hectares, including formerly producing gold mines. The property is located in SW Chihuahua in the Sierra Madre Occidental gold-silver belt where other gold/silver exploration projects are ongoing. The area has numerous mines and recent substantial discoveries. La Millonaria is a 20-30 meter wide, intensely silicified and stockwork veined, east-west trending structure that can be traced on surface for a minimum distance of 600 meters, with additional workings present up to 2 kilometers along strike.

Mr. Francis Biscan Jr., President of Tara Gold Resources, stated, "We now have an interest level in La Millonaria that allows us to advance this exciting project aggressively. We look forward to initiating a systematic exploration program on this property over the coming week and months."

About Tara Gold Resources Corp.

Tara Gold Resources Corp. is a growth-oriented precious metals exploration and development company with existing production plants. It is management's objective to become a significant gold and precious metals producer by re-initiating and increasing production levels at La Currita, Lluvia de Oro and Picacho, and developing the San Miguel, La Millionaria, Pilar De Mocoribo and Las Minitas projects in Mexico. We continue to acquire other advanced-stage projects and/or producing mines in one of the most prolific precious metal districts in the world. For more information, please visit the Company's web site at: http://www.TaraGoldResources.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

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