SOURCE: Tonogold Resources, Inc.

February 01, 2007 09:00 ET

Tonogold Resources, Inc. Issues Summary Report on the Rainbow Gold Project, Goodpaster Mining District, Alaska

LA JOLLA, CA -- (MARKET WIRE) -- February 1, 2007 -- Tonogold Resources, Inc. (PINKSHEETS: TNGL) has issued a summary report on the 2,560-acre Rainbow-Aurora-Indian (Rainbow) gold properties in the Goodpaster Mining District, Alaska.

The report was originally prepared in February 2006 by Northern Associates, Inc. of Fairbanks, Alaska on behalf of the underlying claim owners. The report has been modified to reflect the Exploration Agreement between Tonogold and the underlying claim owners.

The report covers the history, geology, geochemistry, geophysics and conclusions on the property. The conclusion states: The Rainbow property controls mineral rights in a highly favorable location, with prospective geology and geophysical signatures similar to the 3.6 million ounce Pogo deposit located only 2.5 miles to the east.

Tonogold holds the mineral rights to the Rainbow Gold Project via two Exploration Agreements signed in November 2006 and intends to conduct detailed geophysics and geochemical surveys at Rainbow in 2007. Environmental baseline studies will be initiated in 2007 and drilling is planned for 2008.

Don Strachan, Vice President of Exploration for Tonogold, said: "The summary report provides a strong basis from which to begin our exploration program in 2007. We expect to develop Pogo-style drill targets this year and commence drilling in 2008 assuming available funding."

To view the entire Rainbow Summary Report visit Tonogold's website at www.tonogold.com/s/Rainbow.asp, or contact the corporate office to request a copy.

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 "intends", "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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