SOURCE: Tonogold Resources, Inc.

August 07, 2008 09:25 ET

Tonogold Resources Announces 2nd Quarter Exploration Update for Tonopah Divide

LA JOLLA, CA--(Marketwire - August 7, 2008) - Tonogold Resources, Inc. (PINKSHEETS: TNGL) announces an exploration update for the Tonopah Divide Gold Project located five miles south of the town of Tonopah, Esmeralda County, Nevada.

On March 19, 2008, Tonogold announced an Exploration and Option Agreement for the Tonopah Divide Project with Centerra (U.S.), Inc., a subsidiary of Centerra Gold, Inc. whereby Centerra may earn a 60% interest in the Project for expenditures totaling $2.7 million over a five year period. Centerra is to provide quarterly progress reports to Tonogold about the ongoing Tonopah Divide exploration program.

Tonogold has received Centerra's report for the quarter ending June 30, 2008. Key points of interest are as follows:

1) Data Compilation. Centerra continues to compile and digitize historical data including drill hole and surface sample data. A detailed topographic map and series of orthophotos were constructed from Echo Bay air photos and new ground control. Digitizing of historic sample locations and geology onto the new topographic base is underway. Aster satellite images of the area were purchased.

2) Geophysics. The aeromagnetic survey by Edcon-PRJ was completed. A strong magnetic low that corresponds approximately with the district-scale alteration event dominates the property. Zonge Geosciences was contracted to perform an IP-resistivity survey over the central portion of the project area which is 40% complete.

3) Geochemistry. 225 additional rock samples were collected in the second quarter 2008 for a total through June 18 of 353 samples. Analytical results confirm that gold and silver anomalous rock is widespread over much of the property with the better values focused in specific structures.

4) Geology. Geologic mapping was carried out in conjunction with sampling throughout the second quarter and more comprehensive sampling began in June. Four principal target areas have been identified.

Centerra's plans for the third quarter 2008 include: completing the IP survey, completing critical geologic mapping, planning the initial drilling program, filing the drilling permit, and engaging the drilling contractor subject to availability.

Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California with properties in Alaska and Nevada. For more information on the Company visit their website www.tonogold.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our rights through leases and the Mining Law, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold and silver are commodities which have substantial price fluctuations, a drop in gold and/or silver prices could adversely affect future profitability and/or capital raising efforts, and mining can be dangerous and present operational hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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