TNR Gold Corp.

TNR Gold Corp.

May 01, 2009 12:41 ET

TNR Gold Corp. Arranges Debenture Debt Settlement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2009) - TNR Gold Corp. (TSX VENTURE:TNR) ("TNR" or the "Company") announces that, subject to regulatory approval, it has arranged a settlement of $420,000 of debt through the issuance of a Convertible Secured Debenture (the "Settlement"). The debenture has a term of one year and bears interest, payable quarterly, at 9% per annum, compounded semi-annually (9.2% p/a). The debenture is convertible by its holder at any time during the term into units (the "Units") at $0.105 per Unit. Each Unit is comprised of one common share. Quarterly interest payments may also be made in Units, at the election of the holder. The debenture will be secured by a general security agreement, and its holder has the right to roll its debenture into any other debt or equity financing carried out by the Company during the term.

Completion of the Settlement is subject to the receipt of all required regulatory approvals.


TNR is a diversified metals exploration company focused on identifying new prospective projects globally with 22 properties currently in its portfolio.

In anticipation of the surging international lithium demand in various high tech and efficient energy applications, TNR has actively pursued an aggressive global acquisition strategy for Lithium and Rare Metals projects of merit. This further confirms the company's commitment to project generation, market diversity, and building shareholder value.

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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

CUSIP: #87260X 109

SEC 12g3-2(b): Exemption #82-4434

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

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