SOURCE: Tournigan Gold Corporation

August 21, 2006 08:00 ET

Tournigan Finds Additional Mineralization Near Tailings Location, Extends Pre-Feasibility Study

VANCOUVER, BC -- (MARKET WIRE) -- August 21, 2006 -- Tournigan Gold Corporation (TSX-V: TVC) announced today that the development schedule for the Kremnica gold project in Slovakia has been extended due to the discovery of a second mineralized silicified breccia-vein system. The new system was encountered during drilling in the immediate vicinity of the proposed tailings facility location in the Kremnica South prospect area. Tournigan management believes the epithermal alteration system at Kremnica South represents the continuation of the Sturec deposit epithermal vein system.

Should the new system be found to host ore-grade mineralization, an alternative tailings facility from the one proposed would have to be used. The process required to determine the necessity of an alternate tailings site will likely prolong the Pre-feasibility Study by a minimum of 12 weeks.

Drill results indicate a tectonized epithermal silicified breccia-vein system with sulfide mineralization and limonite-clay alteration, discovered during the tailings condemnation drilling, that is approximately 20 metres wide (approximate true width), steeply east-dipping and associated with a structure located along the west side of the Kremnica South prospect area. In the area of current drilling, the west vein system is 300-500 metres west of the steeply-dipping mineralized silicified breccia-vein system at Bartasova Lehotka ridge, located along the east side of the prospect area. Exploration drilling by Tournigan in 2005 produced results of 31.2 metres grading 0.85 g/t gold in diamond drill hole BL-1 across the breccia-vein system at Bartasova Lehotka ridge (see press release dated March 1, 2005). Both of these structures are interpreted to be part of a complex hydrothermal conduit system responsible for the epithermal hydrothermal alteration (over 20 sq km) at the Kremnica South prospect area.

To view an image showing the location of the vein systems described above, click here: www.usetdas.com/maps/TourniganGold/TourniganKremnicaAug21-06.pdf

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

Dr. Kent Ausburn P.G., VP Exploration, Tournigan Gold and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

TOURNIGAN GOLD CORPORATION
"James Walchuck"
James Walchuck, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission ("SEC") permits mining companies in filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms in this news release, such as "inferred resource," that the SEC guidelines strictly prohibit from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure contained in the Company's Form 20-F Registration Statement, File No. 000-50486. The Company's filings are available on the SEC's website at http://www.sec.gov/edgar.shtml.

Contact Information

  • Contact:
    Garry Stock
    Executive VP
    (604) 683-8320
    visit www.tournigan.com

    Suite 2400, 1111 West Georgia Street,
    Vancouver BC Canada V6E 4M3
    Tel: (604) 683 8320
    Fax: (604) 683 8340
    Email: Email Contact