Tournigan Gold Corporation

Tournigan Gold Corporation

October 26, 2005 08:39 ET

Tournigan to Continue Drilling at Kremnica, Begin Pre-Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2005) - Tournigan Gold Corporation (TSX VENTURE:TVC)(FWB:TGP) is pleased to announce that an in-fill drilling program has been successfully completed on the Sturec open pit gold deposit at the Kremnica Gold Project in Slovakia. A Pre-feasibility Study on Sturec has now begun. Step-out exploration drilling is scheduled to commence shortly at the nearby Vratislav target.

Vratislav Exploration drilling

Tournigan will test the Vratislav mineralized zone with a series of step-out Reverse Circulation (RC) drill holes, upon receipt of the requisite drilling permits in 3 to 4 weeks. Initial test drilling at Vratislav conducted in 2004 returned 22.6 metres grading 7.78 grams per tonne gold (see press release dated December 9, 2004). The Vratislav target encompasses an area of historic mine workings focused on sets of quartz veins located roughly 300 metres north of and along strike with the Sturec deposit vein system. The RC drilling at Vratislav will attempt to expand the known historical resource at Vratislav, which management believes could add additional tonnes of higher-grade feed to the proposed Sturec open-pit operation.

Sturec In-fill Drilling

Tournigan recently completed 26 RC drill holes during phase 1 and 12 RC drill holes as part of phase 2 of the Sturec infill drilling program, designed to provide 50-metre by 50-metre drill spacing. In-fill drilling at the Sturec deposit was conducted to provide the detailed data required to convert the existing Sturec resources to the Measured and Indicated categories (see press release dated June 21, 2005).

In addition to the infill drilling program approximately 40-metre to 60-metre long channel cross-cuts were excavated and sampled across the faces of 5 benches in the historic Sturec pit. These benches are located within the core of the Sturec resource block. The update to the Kremnica resource estimate is expected by late November to mid-December.

Sturec Pre-Feasibility Study

With the necessary data for an updated, NI 43-101 compliant resource estimate, Tournigan has commissioned Beacon Hill Consultants (1988) Ltd. to begin a formal Pre-Feasibility Study at Kremnica, upgrading Beacon Hill's Preliminary Assessment completed in March, 2004. The 2004 Assessment estimated that Kremnica could provide an after-tax, 26.1% Internal Rate of Return with gold priced at US$385/oz and 32.8% IRR at US$425/oz, based on a capital investment of US$48.9 million.

The Pre-Feasibility Study will include input from Golder Associates, who were commissioned to begin environmental baseline work on June 21, 2005. Golder will now begin a formal socio-economic study as part of the Environmental Impact Statement. A bilingual Slovak/English informational website will be available during the course of this study. Beacon Hill Consultants have completed several successful bankable feasibility studies, including Myra Falls, Greens Creek and Canatuan. Beacon Hill Consultants are targeting March 2006 for the completion of the Kremnica Pre-Feasibility Study.

Cautionary Note: The March 2004 Preliminary Assessment was based on mining and processing 4,500 tonnes per day, utilized a silver price of US$5.50, and included Slovak taxes of 19% and a Net Profits Interest of 5% payable to Slovakia. Gold recoveries were estimated at 92%, silver recoveries at 72%. The Assessment is preliminary in nature and includes inferred mineral resources too speculative geologically to have economic considerations applied to be categorized as mineral reserves. There is no certainty that these results will be realized.

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.


"James Walchuck"

James Walchuck, President and CEO

The Qualified Person for Kremnica, Dr. Kent Ausburn, has reviewed all technical disclosure in this release.

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.

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