Tournigan Gold Corporation

Tournigan Gold Corporation

January 25, 2006 10:48 ET

Tournigan Gold Corporation Announces Increase to Bought Deal

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 25, 2006) -


Tournigan Gold Corporation (TSX VENTURE:TVC)(FWB:TGP) is pleased to announce that it has reached an agreement with the underwriters for its bought deal announced early today to increase the total size of the offering to $40 million. The underwriters, Sprott Securities Inc., Dundee Securities Corporation and Canaccord Capital Corporation, pursuant to which the Underwriters have now agreed to purchase on an underwritten private placement basis 27,586,310 Special Warrants at a price of $1.45 per Special Warrant for aggregate proceeds to the Company of $40 million. The Underwriters have been granted the option to sell up to 3,620,690 additional Special Warrants at the issue price at any time prior to the closing date for additional gross proceeds of up to $5.25 million. Each Special Warrant will entitle the holder to acquire one common share, subject to adjustment in certain instances, at any time before that date which is four months and a day after the closing of the offering.

The net proceeds of the offering shall be used for capital expenditures at the Kremnica gold deposit and to fund development work and a scoping study at the Jahodna uranium project. The offering is scheduled to close on or about February 15, 2006 and is subject to certain conditions including, but not limited to, satisfactory due diligence and the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the Frankfurt Stock Exchange.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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 and South Dakota, as well as VMS projects in Slovakia and Northern Ireland.


"James Walchuck"
James Walchuck, President and CEO

This press release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 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.

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