TNR Gold Corp.
TSX VENTURE : TNR

TNR Gold Corp.
International Lithium Corp.

International Lithium Corp.

January 19, 2011 11:48 ET

TNR Gold Corp. and International Lithium Corp.: Forgan Lake Program Confirms Historical Results and Identifies New Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2011) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR) and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") are pleased to announce that Cricket Resources Inc. ("Cricket") has received final results of the 2010 exploration program on the Forgan Lake rare metals property in Northwestern Ontario.

Cricket is the operator of the Forgan Lake joint venture on which it has an option to acquire an undivided 60-per-cent interest in the property from TNR Gold Corp. An exploration program implementing phase I recommendations of the 2010 Forgan Lake property NI 43-101 technical report was conducted during September, 2010.

President of TNR, Gary Schellenberg adds, "We are encouraged by the confirmation of the historical results and the successful delineation of priority lithium and rare metals' drill targets at a time when these commodities are at a heightened demand. In addition, the 2010 field program revealed markedly anomalous results in areas not associated with any previously identified pegmatites adding to the prospectivity of the project. True to the TNR business model we have continued to create value through identification of projects and bringing in capable joint venture partners to develop them."

Key Highlights:

  • 106 channel and grab samples collected from pegmatites;
  • Significant values were found in five of the six known pegmatite bodies;
  • 754 soil samples collected on 23.3 kilometres of grid;
  • Anomalous patterns of beryllium, cesium, lithium, tantalum and tin were identified in soils;
  • Some of the soil anomalies appear to derive from previously unknown targets.

Analytical results of rock samples were considered significant when Li2O was greater than 0.5 per cent, Ta2O5 was greater than 100 parts per million or Rb2O was greater than 500 parts per million. Values lower than these may be geochemically anomalous. The attached table lists significant composite channel samples (62 channel samples were collected from pegmatites 1, 3, 5 and 6).

ROCK SAMPLE RESULTS

  Width Li2O Ta2O5 Rb2O  
Samples (m) (wt%) (ppm) (ppm) Region
E462563, 64 2 0.01 11.7 995.2 Pegmatite 5
E462590 to 93 3.8 0.81 40.2 743.1 Pegmatite 1
E462594 to 97 2.8 0.92 311.9 852.6 Pegmatite 1
E462598 to 00 3.3 1.36 50 615.1 Pegmatite 1
E462601 to 03 1.7 1.01 65.6 524.9 Pegmatite 1
E462605 to 08 3.6 1.27 61.2 669.3 Pegmatite 1
E462609 to 11 2.2 1.54 59.6 583 Pegmatite 1
E462613, 14 2.3 1.46 87.5 1252.2 Pegmatite 1
E462616 to 18 3.25 1.39 57.6 644.6 Pegmatite 3

GRAB SAMPLE RESULTS

  Li2O Ta2O5 Rb2O  
Sample No. (wt%) (ppm) (ppm) Region
E462509 0 110.5 262.66 Pegmatite 5
E462518 0.01 0.45 1241.87 Pegmatite 6
E462524 0.01 167.89 505.54 Pegmatite 5
E462526 0 136.14 11.32 Pegmatite 5
E462540 0.95 24.54 429.71 Pegmatite 1
E462541 1.49 15.93 343.99 Pegmatite 1
E462548 2.05 31.5 284.64 Pegmatite 1
E462549 0.91 32.97 438.5 Pegmatite 1
E462624 0.31 15.02 1307.81 Pegmatite 4
E462625 1.64 14.96 397.84 Pegmatite 4

ABOUT FORGAN LAKE

The Forgan Lake property, which comprised one 256-hectare claim block (16 units), is located 125 kilometres northeast of Thunder Bay, Ont. The property, host to six known rare metal pegmatites, is part of the Georgia Lake pegmatite field (GPF), an area of considerable lithium and other rare metals exploration since its discovery in the mid-1950s. Of the six previously identified pegmatites, four known as the No. 1, No. 2, No. 3 and No. 4 pegmatites, were explored on surface and subsequently drilled in 1955 by Lun-Echo. Channel sample results reported by Lun-Echo include 2.57 per cent Li2O over 6.4 metres, 4.23 per cent Li2O over 7.5 metres and 1.98 per cent Li2O over 7.6 metres from the No. 1 pegmatite. Channel samples collected during the TNR's 2009 exploration work on the property confirmed grades and widths comparable with the ones reported by Lun Echo (see TNR's news release in Stockwatch dated Oct. 5, 2009) and delineated several areas of interest in terms of pegmatite potential.

John Harrop, PGeo, FGS, is TNR's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this news release.

THE FORGAN LAKE OPTION

Pursuant to the Forgan Lake option, Cricket can earn a 60-per-cent undivided interest in the Forgan Lake property from TNR by incurring $1-million in exploration expenditures, making cash payments to TNR of $300,000 and issuing 600,000 shares to TNR over a four-year period. For further details please refer to the company's news release in Stockwatch on March 15, 2010.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP.

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp. upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, 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.

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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