SOURCE: Tonogold Resources, Inc.

March 19, 2008 09:15 ET

Tonogold Resources, Inc. Announces Exploration Agreement With Centerra (U.S.), Inc. for Tonopah Divide Gold Project

LA JOLLA, CA--(Marketwire - March 19, 2008) - Tonogold Resources, Inc. (PINKSHEETS: TNGL) ("Tonogold") is pleased to announce that it has completed a formal Exploration and Option Agreement effective January 1, 2008 (the "Exploration Agreement"), with Centerra (U.S.), Inc. ("Centerra"), a subsidiary of Centerra Gold Inc. (TSX: CG), regarding Tonogold's Tonopah Divide project located five miles south of the town of Tonopah, Esmeralda County, Nevada. The Exploration Agreement replaces a Letter of Intent completed on September 10, 2007.

Centerra has the right to earn a 60% interest in the Tonopah Divide project by spending $2.7 million over five years, at which time Centerra and Tonogold will form a joint venture. The first year's minimum expenditure is $300,000. After formation of the joint venture, Centerra can earn an additional 15% interest by spending a further $5.0 million over four years. Centerra has agreed to provide quarterly exploration updates to Tonogold.

Tonogold leases the Tonopah Divide property from an underlying owner. The property consists of 37 patented mining claims and 124 unpatented lode mining claims. During the term of the Letter of Intent, Centerra performed due diligence on title to the claims. Completion of the Exploration Agreement was contingent on amending the underlying lease with Tonopah Divide Mining Company, which has been amended effective March 1, 2008.

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 www.tonogold.com.

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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