TNR Gold Corp.

TNR Gold Corp.

June 12, 2007 17:22 ET

TNR Gold Corp.: Commences Drilling on La Carolina Gold Project, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2007) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR) is pleased to announce that partner Latin American Minerals Inc. ("LAT") (TSX VENTURE:LAT) has commenced a diamond drilling program on the La Carolina gold Project in San Luis Province, Argentina.

TNR's partner Latin American Minerals has expanded an originally-planned 2,000 meter program to 6,000 meters, based on expansion of existing gold zones and new target areas developed by additional geochemistry and geophysical programs. The drill program now consists of twenty core holes up to 350 meters in depth.

Previous work done by Anglo in 1989 and Geocom Resources Inc. ("Geocom") (OTCBB:GOCM) in 2004 identified gold mineralization at La Carolina in silicified breccias with disseminated and vein hosted pyrite, galena and sphalerite in breccia pipes and the rims of a 2km by 4km volcanic complex that pierce through the Paleozoic basement. The volcanic complex is interpreted by LAT to be a diatreme. Almost all previous work including a total of 55 shallow holes drilled by Anglo and 14 holes drilled by Geocom were targeted at the volcanic rocks. However, LAT's Phase I exploration results demonstrate that the larger geochemical and geophysical anomalies are located outside the volcanic complex in the brecciated basement rocks located within 300m of the contact.

The historic drilling completed by Anglo focused on volcanic breccias near the contact of the diatreme and the basement rocks. Most of their holes were terminated on intersecting the basement rocks and did not intersect the geophysically anomalous zone within the basement. Some of the holes that intersected basement rocks in proximity to the anomalous trend reported no significant gold values. A number of holes reported anomalous gold assays up to 60 gpt Au over 3m, however this intersection reported only 50% core recovery. The project operator has not independently confirmed these historic assays, but the assay results suggests that the anomalous zone is potentially variably mineralized and contains encouraging gold values. Each zone extends for over 3km according to geophysical data.

The drilling will be carried out by Patagonia Drill of Mendoza and will take approximately four (4) months to complete. Dr. Waldo Perez, P.Geo., and Sr. Vice-President of LAT, is the designated Qualified Person for the project.

Latin American Minerals Inc. can earn an undivided 75% interest in the project by making cash payments totaling US$125,000 and issuing a total of 225,000 common shares to TNR and Geocom (each divided 50/50 between Geocom and TNR) and carrying out staged exploration programs over five years, which must aggregate US$1,000,000 to earn its interest.


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.

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Contact Information

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