Tri-Gold Resources Corp.
TSX VENTURE : TAL

Tri-Gold Resources Corp.

January 23, 2007 19:40 ET

Tri-Gold and Benton to Explore Nipigon Basin for Uranium

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 23, 2007) - Tri-Gold Resources Corp. (the "Company") (TSX VENTURE:TAL) is pleased to announce that it has entered into an option and joint venture agreement with Benton Resources Corp. of Thunder Bay, Ontario, whereby the Company has the exclusive rights and option to earn up to 60% interest in the Nipigon Uranium Project by fulfilling the following conditions.

The Specific terms of the Agreement are as follows:

Initial Option to earn 50%; the Company must;

a) Pay Benton Resources for the completion of staking additional claims with Block "A".

b) Pay for the cost of staking claims within Block "A".

c) Conduct, by September 1, 2007, exploration work on the Property in an amount equal to $500,000 less the costs incurred pursuant to (a), (b) and (c) above.

d) Conduct, by September 1, 2007, exploration work on the Property in an amount equal to $500,000 less the costs incurred pursuant to (a), (b) and (c) above.

Second Option, provided the initial Option is exercised, the Company may exercise a second option to earn a further 10% by;

a) Giving notice to Benton, within 30 days of exercising the Initial Option, that Tri-Gold wished to exercise the Second Option; and

b) By spending an additional $500,000 on exploration within 12 months of giving such notice.

If Tri-Gold elects not to exercise the Second Option the parties will form a 50/50 joint venture for the further development of the property.

If Tri-Gold exercises the Second Option the parties will form a joint venture for the further development of the property with Tri-Gold having a 60% interest and Benton having a 40% interest.

The Nipigon Basin is considered to have a very similar geological setting to that of Saskatchewan's Athabasca Basin, which hosts most of the world's highest grade uranium deposits. Excellent geological potential combined with significant historical uranium occurrences have led geologists to view the Nipigon Basin as highly prospective for new uranium deposits. Recent ongoing exploration by adjacent companies had lead to the discovery of very high grade uranium (up to 12%U308). Tri-Gold's and Benton's highly prospective combined ground covers radiometric anomalies associated with Sibley Group Proterozoic-aged sediments that coincide with underlying structures in the Archean-aged basement granites, a setting similar to the uranium-rich Athabascan Basin. Historical exploration in the area has uncovered numerous showings of uranium, copper, and iron oxide (hematite) suggesting the potential exists for Olympic Dam-type deposits. Several of the individual claim blocks specifically cover smaller 1-3km sized anomalies within a 10-15km larger anomaly. These may represent third and second order basins respectively associated with the Lake Superior mid-continental rift system. In the last six months, more than 7,500 claim units have been staked for uranium in the Nipigon basin.

On behalf of the board of Directors of Tri-Gold Resources Corp.

T. Barry Coughlan, Executive Chairman

Certain matters discussed in this press release may contain forward-looking statements. Investors are cautioned that all statements, other than statement of historical fact, involve risks and uncertainties, including but not limited to: exploration and mining risks and financing risks. There can be no assurance that such statement will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are encouraged to review Tri-Gold's filings on SEDAR at www.sedar.com.

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

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