SOURCE: Tara Gold Resources Corp.

March 19, 2008 09:00 ET

Tara Gold Announces Las Minitas Settlement and Reaffirms 100% Control of the Expanded Gold-Silver Property

CHICAGO, IL--(Marketwire - March 19, 2008) - Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) and its subsidiary Corporación Amermin S.A. is pleased to announce that the Company has reached a settlement with Pershimco Resources Inc. and its subsidiary Minero Metalurgica San Miguel, S. de R.L. de C.V. on the Las Minitas Gold-Silver Property holdings.

Tara Gold has accepted the full return of the expanded Las Minitas Property holdings from Pershimco. Additional concessions, acquired during 2007 by Pershimco's subsidiary Minero Metalurgica San Miguel, will be registered under Tara Gold. Pershimco will retain a 1% Net Smelter Returns Royalty (NSR) on the Las Minitas Property subject to a buy-back option of CDN $0.5 million. Pershimco will forward all Las Minitas Property project data to Tara Gold. All past payments will remain the property of Tara Gold.

The potential of the Las Minitas Property was gauged based on the available historical information, including historical and independent technical reports. Tara Gold has learned from Pershimco, the operator, that they were unable to validate if the historic database was complete and if it contained all the relevant historic drilling and assays done on the project. Pershimco also learned of and confirmed that a statement at that time was issued retracting a resource estimate at the Las Minitas project, otherwise known in the 1990s as the La Fortuna project. The retraction was based on a discrepancy in silver assays. Tara Gold continues to caution that historical results should not be relied upon. Tara Gold did not make any misrepresentations.

The work carried out by Pershimco indicates that the Las Minitas Property has the potential to be a gold dominant mineralized system, and not necessarily the predominantly silver system outlined by the historical and current technical reports. The La Minitas Property continues to have considerable merit. Both Pershimco and Tara Gold continue to believe that the complementary strengths of each have the potential to add considerable value through future partnerships.

Neither Pershimco nor Tara Gold Resources Corp. will hold any claim of gain or liability, now or in the future, regarding the option agreement and its dissolution.

In November 2007, following airborne geophysics, surface geochemical sampling, trenching and sampling, 4 new regional targets were discovered. The Las Minitas holdings were expanded to 79.52 square kilometres, in 30 contiguous properties, to encompass these additional targets. Tara Gold is assessing its option to build on the success of the initial results which contained gold and silver mineralization. Drill hole 07-MN-10 at the El Negro target intersected 3.12 g/t gold and 43.80 g/t silver over 24.5 m, including a 1 m section grading 26.07 g/t gold, 273.50 g/t silver.

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, Las Minitas and Curcurpe 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:

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.

Contact Information