TNR Gold Corp.
TSX VENTURE : TNR

TNR Gold Corp.

May 04, 2009 18:27 ET

TNR Gold Corp. Renegotiates El Tapau Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR) is pleased to provide an update to the El Tapau property, a copper-gold prospect located in the province of San Juan, Argentina.

Petra Gold Servicio Mineros and Gustavo Pezzani ("property optionors") have agreed to amend the terms of the option agreement dated August 29, 2007 which granted the Company a right to earn a 70% interest in the property by expending US$3,000,000 in exploration over four years and making option payments of US$1,000,000 over 5 years. The amended agreement postpones the US$100,000 payment due on December 10, 2008 to US$15,000 upon signing the amended agreement, four additional payments of US$15,000 on or before the 10th day of May, July, September and November 2009 and a final payment of US$25,000 on December 10, 2009.

TNR believes the El Tapau project is a key Argentinean asset with considerable potential based on encouraging results of high grade gold and silver in addition to wide lengths of copper encountered in the 2008 exploration program.

THE EL TAPAU PROJECT

The El Tapau Project, consisting of 3,400 hectares and is believed to host both intrusive-related copper-gold and epithermal gold system in the Frontal cordillera of the eastern Andes. Numerous historical underground copper mines are located on the claim, and quartz stockwork zones are common throughout the project area. Located within the famous "Yellow Belt" district of San Juan province, Argentina, El Tapau is strategically located just 50 km from TNR's El Salto project and 130 km from San Juan city. Drilling programs in 2008 yielded gold, silver, and copper intercepts including 0.49% Cu over 82.25 metres and 9.15 g/t Au and 78.98 g/t Ag over 0.75 metres.

Ike Osmani, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.

ABOUT TNR

TNR is a diversified metals exploration company focused on identifying new prospective projects globally with 22 properties currently in its portfolio, of which 5 properties will be subject to the proposed spin-off of International Lithium Corp. (www.internationallithium.com) as announced in TNR's news release dated April 27th, 2009.

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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