TintinaGold Resources Inc.

TintinaGold Resources Inc.

March 15, 2011 14:40 ET

TintinaGold Announces Results of Annual General and Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2011) -


TintinaGold Resources Inc. (TSX VENTURE:TAU) ("TintinaGold" or the "Company") announces the results of the Annual General and Special Meeting of the Company held today (the "Meeting").

The shareholders of the Company approved the creation of Quantum Partners LP as a new control person of the Company. The Company sought this approval pursuant to the policies of the TSX Venture Exchange as a condition to the closing of a private placement of 47,244,094 common shares to Quantum Partners LP ("Quantum"), a private investment fund managed by Soros Fund Management LLC, for proceeds of $30 million, as previously announced on February 10, 2011.

The private placement to Quantum is part of a non-brokered private placement of up to 56,299,213 common shares at a price of $0.635 per share for gross proceeds to the Company of up to $35,750,000 (the "Offering"). As announced by the Company on March 2, 2011, the Company closed a first tranche of the Offering for gross proceeds of approximately $16.3 million. The shareholder approval received at the Meeting allows the Company to proceed with the second and final tranche of the private placement.

The Company also sought shareholder approval of the proposed spin-out of the Company's Colorado Creek mineral exploration property to a new company under a statutory plan of arrangement (the "Arrangement"). Although a majority of the shares voted on the special resolution to approve the Arrangement were voted in favour of approving the Arrangement, the requisite two-thirds majority was not reached. As shareholder approval was a condition to the completion of the proposed Arrangement, the Company will not proceed with the Arrangement at this time. The proposed Arrangement was first announced by the Company on September 22, 2010 and was described in detail in the information circular for the Meeting.

All of the routine annual matters considered at the Meeting, including the election of management's nominees to the board of directors, were approved.

About TintinaGold

TintinaGold is a growth company focused on the exploration and development of precious and base metal properties around the world. The Company's experienced Board of Directors and Management Team, having completed the verification drilling on the Sheep Creek copper-cobalt massive sulfide property in Montana, U.S.A., are focused on additional exploration drilling and advancing the project towards production. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project.

The growth and success of the Company comes from TintinaGold's experienced exploration team and its ability to forge collaborative relationships and partnerships with Native Alaskan and First Nations groups, local communities, major mining companies and regulators.

About Sheep Creek

The Sheep Creek deposit is located about 27 km north of White Sulphur Springs along a well maintained gravel road and within two miles of U.S. Highway 89. The Sheep Creek property consists of approximately 5,775 acres of fee simple lands and mining claims in central Montana. The property contains sediment-hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. Historical drilling encountered significant zones of strata-bound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Supergroup; this same stratigraphic unit hosts the Sullivan zinc-lead-silver deposit in southeastern B.C. The Company, in a remarkably short period of time, has been able to produce an Inferred Resource on the Upper Copper Zone (please see the Company's Press Release dated January 6, 2011).

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Website: www.tintinagold.com


Raj Chowdhry, C.A., Executive Vice-Chairman

Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the closing of the second and final tranche of the Offering, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain regulatory approval of the Offering and is otherwise able to complete the remainder of the Offering. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to the Offering that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, financing risks, regulatory risk, including delays in obtaining or inability to obtain required government or other regulatory approvals, and inability to complete the remainder of the Offering. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. TintinaGold does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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