Tournigan Gold Corporation
FRANKFURT : TGP
TSX VENTURE : TVC

Tournigan Gold Corporation

October 13, 2005 18:17 ET

Tournigan Finalises Wyoming Agreement; Stakes More Uranium Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Tournigan Gold Corporation (TSX VENTURE:TVC)(FRANKFURT:TGP) is pleased to announce that the agreement to acquire a portfolio of Wyoming uranium claims from Sweetwater River Resources LLC has been signed (see press release dated June 16, 2004). Since the June 16, 2005 announcement, Sweetwater has also doubled the number of claims staked as part of this agreement. The Wyoming portfolio now consists of 601 claims covering approximately 48.0 square kilometres within three prospective uranium districts.

The claim groups are located in the Shirley Basin, Great Divide Basin, and Green River Basin Uranium Districts in Wyoming, USA, where mines have historically produced 193 million lbs of uranium oxide (U(3)O(8)). Tournigan has focused its efforts on staking US Federal Mining claims where major resource companies had previously identified uranium mineralization and/or resources, in areas close to former producing uranium mines or ISL (in-situ leach) operations. Tournigan's US team is continuing property investigations in order to stake additional prospective ground.

Shirley Basin

Tournigan has staked two areas, the MSB block of 132 claims and the NSB block of 45 claims. At MSB, company maps and USGS reports indicate approximately 2.0 square miles of known uranium mineralization. The NSB block is on trend with former Homestake, Utah Construction and Petronomics mines, both open-pit and underground, with historic production reported to be in excess of 60 million lbs of U(3)O(8).

Great Divide Basin

Tournigan has staked two areas in the Great Divide Basin - the UT block of 170 claims and two blocks totaling 81 claims in the Alkali Creek area. The UT block covers areas of close-spaced drilling by Utopia Mining and Rocky Mountain Energy. The Alkali Creek area claims are adjacent to claims held by Energy Metals Corporation, with a small mothballed ISL operation also in the immediate vicinity. The Alkali Creek claims encompass historic close-spaced drillhole patterns of Teton Energy and Newmont.

Green River Basin

Tournigan has now staked an 8-kilometre trend in the South Pass block with 173 claims. The trend includes the historical Brett Resource and the historical East Sage Resource reported by Wold Nuclear in 1979. The claims also encompass adjacent areas of close-spaced drilling conducted by Federal American Partners and Gulf Resources.

For each claim block, Tournigan is compiling data and assessing the potential to stake additional claims along identifiable trends. Other uranium-prospective areas in the western United States are also being investigated. Once acquisition activity begins to moderate, Tournigan will begin confirmation drilling and exploration programs, initially targeting areas with reported resources, with particular focus on areas with ISL potential.

In order to earn an 85% interest in the properties from Sweetwater, Tournigan is to issue 200,000 shares to Sweetwater, pay an initial $140,000 and make additional option payments totalling $125,000 until September 15, 2008. Tournigan would then have the right to purchase Sweetwater's remaining 15% for shares in Tournigan, based on an independent valuation.

Corporate Matters

Tournigan is also pleased to announce that the non-brokered private placement announced September 20, 2005, has closed, raising gross proceeds of $1.75 million. On closing, 3.5 million Units at $0.50 per Unit were issued to Passport Capital, Sprott Asset Management Inc. and Pinetree Capital Ltd. Each Unit consists of one common share and one-half of a warrant, with each whole warrant entitling the holder to purchase an additional common share at an exercise price of $0.65 per share until March 31, 2007. The Company may require the warrants to be exercised any time after the trading price of Tournigan's shares exceeds $1.00 per share for 30 consecutive trading days. Finder's fees of $37,500 and 75,000 Units were paid on closing. Any shares issued pursuant to this placement are subject to a four-month hold period expiring on January 31, 2006.

This financing will provide funds for work programs on Tournigan's most advanced projects, including the validation drilling and 43-101 resource estimate on the Jahodna uranium project and pre-feasibility work on the Kremnica gold project.

Tournigan Gold is focused on developing advanced projects in Europe - Kremnica (gold) in Slovakia, Curraghinalt (gold) in Northern Ireland, and Jahodna (uranium/molybdenum) in Slovakia. Tournigan's asset mix also includes a portfolio of uranium properties in Wyoming, as well as VMS projects in Slovakia and Northern Ireland.

TOURNIGAN GOLD CORPORATION

"James Walchuck"

James Walchuck, President and CEO

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. 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 mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information