SOURCE: Tonogold Resources, Inc.

March 23, 2007 16:01 ET

Tonogold Resources, Inc. Announces Change to Warrant Pricing

LA JOLLA, CA -- (MARKET WIRE) -- March 23, 2007 -- Tonogold Resources, Inc. (PINKSHEETS: TNGL) announces a change in the exercise price for warrants set to expire on May 31, 2007.

Warrants that were issued in conjunction with the Private Placement Memorandum dated January 15, 2006 will now be exercisable at $0.20 per share until May 31, 2007.

Warrants expiring on December 31, 2007 may be exercised at $.20 per share provided they are exercised prior to May 31, 2007. After May 31, 2007, the $.35 per share exercise price will apply to those unexpired warrants.

Warrant holders wishing to exercise their warrants are encouraged to contact Tonogold Resources at (877) 866-6465 well in advance of the May 31, 2007 deadline.

Tonogold Resources, Inc. is a minerals exploration company based in La Jolla, California with properties in Alaska and Nevada. The company also has a project office in Carson City, Nevada. For more information on the Company visit their website

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," "goal" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc., that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our right through leases and the Mining Law, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold and silver are commodities which have substantial price fluctuations, a drop in gold and/or silver prices could adversely affect future profitability and/or capital raising efforts, and mining can be dangerous and present operation hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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