SOURCE: Tara Gold Resources Corp.

July 16, 2008 09:56 ET

Tara Gold Reports Expansion of San Antonio Zone to More Than 300 Meters of Depth at Its San Miguel Project

CHICAGO, IL--(Marketwire - July 16, 2008) - Tara Gold Resources Corp. (PINKSHEETS: TRGD) (FRANKFURT: T8N) is pleased to report assay results from 2 holes (SA-54 and SA-55) in the San Antonio zone.

Drill hole SA-55 intercepted three, well mineralized intervals: one near the surface, a second at 110 meters down the hole, and a third at 450 meters down the hole (300 meters vertical depth). The deepest intercept contained 2.55 meters true thickness, grading 3.36 g/t Au and 585 g/t Ag or 15.05 g/t Au equivalent. This hole indicates that the gold to silver ratio is increasing with depth.

The San Miguel project is a joint venture between Tara Gold Resources Corp. (30%) and Paramount Gold and Silver Corp. (70%). Paramount is the operator of the exploration program and provided this update in their news release of July 16, 2008.

The near-surface drilling program at San Antonio completed in the fall of 2007 included 53 core holes which tested the target from the surface to a depth of approximately 100 meters. That program produced an estimated resource of 10,018,600 tons grading 106 g/t Ag equivalent, or a total of 34,304,000 ounces of Ag equivalent, according to the recent NI 43-101 report. The goal of the current drill program is to increase the resource to greater depths.

Highlights of these assay results are seen in the table below. Please visit http://www.TaraGoldResources.com for additional information.

                             True   Gold    Silver  Gold Equiv. Gold Equiv.
Hole    From    To  Interval Width (grams/ (grams/    (grams/     (grams x
Number   (m)    (m)   (m)     (m)   ton)     ton)       ton)       meters)
SA-55    3.2    7.0   3.8     2.69  0.00      73       1.47         3.95
         7.0   10.0   3.0     2.12  0.01     439       8.79        18.63
       110.3  112.9   2.6     1.84  0.00     212       4.23         7.78
       447.4  451.0   3.6     2.55  3.36     585      15.05        38.31

Paramount has commented that, "The results of these first two deeper holes at San Antonio are very encouraging. They confirm that the San Antonio veins persist to a depth of at least 360 meters. Most important is the increase of gold grades with depth. This suggests that with more drilling we may be able to develop a high grade vein system at San Antonio in which gold provides the majority of the value, perhaps similar to the San Miguel vein."

Quality Control

Paramount takes detailed digital photos of the entire core before it is cut by saw to half core which is assayed at ALS Chemex's Vancouver laboratory. As part of quality assurance, quality control (QA/QC), Paramount has put into place a detailed program of periodically introducing certified standards, blanks and duplicates into the sample stream. Half-core samples are being retained on site for verification and reference purposes.

About Tara Gold Resources Corp.

The principal business of Tara Gold Resources Corp. is the acquisition, exploration and development of high-quality precious metals projects with potential for economic commercial value. Tara provides investors growth exposure with a diversified exploration portfolio, multiple multi-million ounce targets and several near term production scenarios. Tara Gold is currently focused on the advancement of the significant silver discovery at San Miguel (30% interest) and generating revenue from the Don Ramon and Lourdes project owned 100% by the subsidiary Tara Minerals Corp. Tara Gold is also positioned to benefit from production start-up at Lluvia de Oro and La Currita, the material exploration and production potential of Picacho, and from the future advancement of La Millonaria, Las Minitas and the Curcurpe projects in Mexico. 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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