TNR Gold Corp.
TSX VENTURE : TNR

TNR Gold Corp.

September 06, 2007 13:36 ET

TNR Gold Corp.: Xstrata Plc Vests Its Interest in the Los Azules Property, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2007) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR) is pleased to announce that Xstrata PLC ("Xstrata") has exercised its option to acquire a 100% interest in the Los Azules Property.

TNR's Los Azules property consists of approximately 20,000 acres located in El Indio gold belt. To earn the 100% option, Xstrata agreed to cash payments totaling US$560,000 and incur exploration expenditures totaling US$1,000,000 by May 15, 2008. In 2005 Xstrata optioned its 100% interest to Minera Andes Inc. ("Minera Andes") in which Minera Andes would make all the cash payments required and incur $3,000,000 in exploration expenditures by May 15, 2008. All cash payments due by May 15, 2008 have now been received. All exploration expenditures have also been incurred.

In 2006 drill results from Minera Andes confirmed significant high-grade copper on the property. An 11-hole drill program returned intervals up to 1.62 per cent copper over 221 metres and 1 per cent copper over 173 metres in separate holes. The new core drilling focused on the previously defined enriched copper target in an area approximately 2,500 metres by as much as 1,500 metres, defined by prior drilling. Drilling tested mineralization on both TNR's property as well as Minera Andes adjacent lands.

TNR has an option to repurchase a 25% interest upon completion of a feasibility study.

This agreement with Xstrata continues TNR's strategy of identifying new prospective projects as well as fostering work on its large portfolio of base and precious metal properties in the Americas, with special emphasis on Argentina.

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