SOURCE: Tournigan Energy Ltd.

February 24, 2009 12:17 ET

Tournigan Doubles Contained Uranium and Increases Grade of Indicated Resource at Kuriskova Uranium Deposit, Slovakia

VANCOUVER, BC--(Marketwire - February 24, 2009) - Tournigan Energy Ltd. (TSX-V: TVC) (FRANKFURT: TGP) has completed an updated resource estimate for the company's Kuriskova uranium deposit in Slovakia which more than doubles the amount of uranium contained in the indicated resource and significantly increases the grade of the indicated resource. SRK Consulting (U.S.), Inc. has reviewed and audited the updated resource estimate.

Highlights:

--  Tournigan's 2008 infill drilling moved 8,084,000 pounds of U308 from
    the inferred resource category to the better defined and more confident
    indicated category
--  The grade of indicated resource increased by 28% from 0.435% U308 to
    0.558% U308
--  The infill drilling demonstrated the presence of an exceptionally high-
    grade zone of uranium mineralization, which remains open along both strike
    and dip
--  The estimate includes 3,261,000 pounds of molybdenum as a potential by-
    product (see table below)
    

The tight geological constraints that were used to model the indicated high-grade resource provide a high level of confidence in this zone while leading to a modest reduction in the number of pounds of uranium remaining in the inferred category. Exploration in or near this zone could replace or increase these pounds at a higher grade. There is also potential for further exploration drilling to increase the overall size of the deposit and for additional infill drilling to upgrade a significant additional portion of the current inferred resource to the indicated category.

"We are very excited by the results of our recent infill drilling program which led to such a dramatic increase in both size and grade of the indicated uranium resource," said Dorian L. (Dusty) Nicol, Tournigan's president and CEO. "This bodes well for the possibility of further increasing the size and quality of the deposit. This recent program was restricted to infill drilling in order to upgrade the quality of the resource as we advance Kuriskova toward feasibility.

"We emphasize that there remains great exploration upside both immediately adjacent to the Kuriskova resource and in the surrounding ground controlled by Tournigan. Our current estimated grade of 0.558% U308 compares extremely favorably with most other uranium projects currently under development with grades in the order of 0.1% to 0.2% U308. This estimate also demonstrates the presence of a significant amount of molybdenum which could represent a by-product credit. The resource estimate includes only molybdenum contained within the uranium resource."

The following tables summarize the current resource estimate:

Current Resource:

-***-

    KURISKOVA RESOURCE ESTIMATE FEBRUARY 2009 (SRK) * CUT-OFF 0.05%U *
-------------------------------------------------------------------------
                          TONNES            U3O8 LBS      TONNES   MO LBS
                     U%   (000)    %U3O8     (000)    MO%   (000)   (000)
-------------------------------------------------------------------------
Total Indicated     0.473  1,191    0.558   14,654
 (Main zone )
-------------------------------------------------------------------------
Total Inferred      0.182  3,780    0.215   17,901   0.030  4,897   3,261
(Main and HW zones)
-------------------------------------------------------------------------

-****-

* Mo resource numbers represent Mo associated with Uranium resource blocks
above a 0.05%U cutoff

Previous Resource:

-***-

KURISKOVA RESOURCE ESTIMATE JULY 2008 (SRK) * CUT-OFF 0.05%U
------------------------------------------------------------
                            TONNES                 U3O8 LBS
CLASSIFICATION       U%     (000)       U3O8%         (000)
------------------------------------------------------------
Indicated          0.369      685       0.435          6,570
------------------------------------------------------------
Inferred           0.254    4,568       0.299         30,131
------------------------------------------------------------

-****-

A complete table of the new resource estimate prepared by Tournigan and reviewed, audited and approved by SRK, can be found in Appendix A or by visiting Tournigan's web site from this link: http://www.tournigan.com/i/pdf/KuriskovaResourceFeb09AppendixA.pdf.

A longitudinal projection showing drill hole locations and interval grades is available from Appendix B or can be viewed from this link: http://www.tournigan.com/i/pdf/KuriskovaVLP.pdf.

The updated estimate incorporates the results of 23 diamond drill holes totaling 9,267 metres that were drilled since the last resource estimate previously disclosed in a news release dated July 16, 2008. The estimate was prepared by Ravi Sharma, Tournigan's manager of resources and reserves, under the supervision of SRK, who are preparing an NI 43-101 Technical Report to be filed on SEDAR within 45 days of the date of this news release. Allan V. Moran, principal geologist and Frank Daviess, principal resource geologist, who reviewed, audited and approved the current resource estimate, are both with SRK and are independent Qualified Persons as defined by NI 43-101.

Interpretation and outlining of mineralization was conducted section-by-section by incorporating geological, structural and assay information for each geological domain and by snapping points for hanging wall and footwall contact while performing section interpretation. Triangulations of outlines between sections were done to create 3D wireframe solids for each geological domain using Datamine Studio 3 software. Interpolation of grade to populate the block model within domain wireframes was carried out using inverse distance cubed methods and a dynamic anisotropy search option. The 3D wireframe solids of the previous resource estimate dated July 16, 2008 were updated with infill holes for the Main Zone and were reviewed by SRK. Interpolation and NI 43-101 compliant resource classification parameters were developed by SRK.

Tournigan is beginning a preliminary assessment (scoping study), including metallurgical testing, on the Kuriskova deposit expected to be completed before the end of the second quarter of 2009. Pre-feasibility and feasibility studies are expected to follow the preliminary assessment.

Ravi Sharma, MAusIMM, Tournigan's manager of resources and reserves, and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. SRK has reviewed and approved the technical content of this news release.

About Tournigan Energy Ltd.

Tournigan Energy is a uranium and gold exploration and development company that has built a portfolio of highly prospective assets in Europe. The company has focused its development and obtained licenses in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure, an educated population and, as of January 1, 2009, has adopted the Euro currency. Tournigan Energy is committed to safe and sustainable exploration and mine development in Slovakia and its other operational jurisdictions.

TOURNIGAN ENERGY LTD.

"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO

Forward-looking statements: Certain of the statements made herein, including any information as to the Company's future financial or operating performance, may be forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Corporation's ability to control or predict. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information please contact:
    Knox Henderson
    Tournigan Energy Investor Relations
    (604) 683-8320
    visit www.tournigan.com