TNR Gold Corp.
TSX VENTURE : TNR

TNR Gold Corp.

August 30, 2007 17:54 ET

TNR Gold Corp.: Acquisition and Exploration of the El Tapau Gold Project, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2007) - TNR Gold Corp. (TSX VENTURE:TNR) has signed an option agreement to acquire a 70% interest in the El Tapau property, located 130 kilometres west of the city of San Juan, in San Juan province. El Tapau is strategically located in proximity to the Company's El Salto property, which will allow for work programs to be carried out simultaneously. Both the El Tapau and El Salto properties are accessible year-round by paved and dirt roads.

The El Tapau property is believed to host an intrusive related gold system in the Frontal cordillera of the eastern Andes, at an altitude of about 2,300 meters.

TNR personnel recently completed a reconnaissance trip to the property in order to evaluate its mineral potential and design a program for further exploration. The Tapau claim contains veins and porphyry style stockwork that are mineralized with gold and copper. Initial investigations indicate a large mineralized system situated below the auriferous veins found in the northeast part of the claims. Systematic rock chip (157 samples) along this zone, over an area of 600m long by 400m wide, has yielded gold values ranging from trace to 19 g/tonne with the average value being 2.2 g/tonne. Sample analysis was done by Alex Stewart Assayers, Argentina S.A. Numerous historical underground copper mines are located on the claim, and quartz stockwork zones are common throughout the project area. Historical IP done by Quantec indicates a strong large chargeability high, approximately 1.5 km by 2.0 km (east-west) in extent, underling this area, and is open to the west.

Additional work has been recommended by geologists for the remainder of 2007. In order to improve geological understanding of the origin and structural extent of mineralization, TNR has planned a work program to begin immediately. Work will include:

- Detailed geological mapping

- Systematic rock sampling on the claim

- Geophysical IP to test the full extent of the previously identified chargeability anomaly

- Trenching

The acquisition of the El Tapau project continues TNR's strategy of identifying prospective projects and fostering work on its large portfolio of base and precious metal projects in the Americas, with special emphasis on Argentina.

TNR has agreed to make payments totaling $1,000,000 to PetraGold over a five-year period and commit to work expenditures totaling $3,000,000 over a four-year period. PetraGold maintains a 2% NSR purchasable by TNR for $2,000,000.

This is a non arms length transaction and is subject to regulatory approval.

John Fraser, P.Geo. (BC), is a qualified person under National Instrument 43-101, and has reviewed the content of this news release.

ON BEHALF OF THE BOARD

Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Standard & Poors Listed

SEC12g3-2(b) Exemption #82-4434

CUSIP #872950-10-0

The TSX Venture Exchange does accept responsibility for the adequacy or accuracy this news release.

Contact Information

  • TNR Gold Corp.
    Gary Schellenberg
    President
    (604) 687-7551 or Toll Free: 1-800-667-4470
    (604) 687-4670 (FAX)
    Website: www.tnrgoldcorp.com