======================================================================
Re: News Releases - Thursday, March 27, 2008
Prospect Uranium, Inc. Acquires Connors Uranium Project, North
Dakota
======================================================================
La Jolla, California, March 27, 2008. Prospect Uranium, Inc., a
subsidiary of Tonogold Resources Inc. (Pink Sheets: TNGL), announces
the acquisition of the Connors Uranium Project in Slope County, North
Dakota.
The Connors Uranium Project is leased from private land owners by the
Secure Energy, LLC. joint venture. Prospect Uranium is the managing
member of Secure Energy.
The Connors properties consist of three uranium leases on 1,026 acres
of private property. The terms of the leases are ten years or
perpetual upon production and each has a $10 per acre per year rental
fee of which $90,492 has been pre-paid. The leases carry a production
royalty which varies from $.75 per pound of contained uranium to 5% of
the net proceeds from uranium bearing ore or leach solutions.
Prospect is evaluating historic drill data on adjoining land and may
increase the size and scope of the project.
Prospect Uranium is in possession of 242 historic drill hole logs,
including gamma and resistivity logs. The logs indicate uranium
mineralized roll fronts in the sandstones with mudstone and lignite
layers encapsulating the sandstone. Additional layers of sandstone
exist at deeper intervals, but have not been cored or logged. Prospect
has analyzed an additional 1,400 drill logs in the region.
Prospect Uranium, Inc. is a uranium exploration company based in La
Jolla, California. Prospect Uranium is a subsidiary of Tonogold
Resources, Inc. For more information on the Company visit their
websites at www.tonogold.com and www.prospecturanium.com.
Safe Harbor Statement Under the
Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking information about
Prospect Uranium, Inc. ("Prospect") and Tonogold Resources, Inc.
("Tonogold") which is intended to be covered by the safe harbor for
"forward-looking statements" provided by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
statements that are not historical facts. Words such as "expect(s)",
"feel(s)", "believe(s)", "will", "may", "anticipate(s)" "potential",
"goal", and similar expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to, financial projections and estimates and their underlying
assumptions; statements regarding plans, objectives and expectations
with respect to future operations, products and services; and
statements regarding future performance. Such statements are subject
to certain risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Tonogold Resources, Inc.,
that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include:
our lack of operating revenue and earnings history, our need for
additional capital to pursue our business strategy, the grade and
quantity of minerals in our projects may not be economic, we do not
have fee title to our properties, but derive our rights through leases
and the Mining Law, we are a non-reporting company and as such do not
make periodic filings with the Securities and Exchange Commission, we
trade on the Pink Sheets and there can be no assurances that a liquid
market will develop in our securities, mining is subject to extensive
environmental regulations and can create substantial environmental
liabilities, gold and silver are commodities which have substantial
price fluctuations, a drop in gold and/or silver prices could adversely
affect future profitability and/or capital raising efforts, and mining
can be dangerous and present operational hazards for employees and
contractors. Readers are cautioned not to place undue reliance on
these forward-looking statements. Tonogold does not undertake any
obligation to republish revised forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
Contact:
Phillip Winter
858-456-1273
ir@tonogold.com
======================================================================
Copyright (c) 2008 TONOGOLD RESOURCES, INC. (TNGL) All rights
reserved. For more information visit our website at
http://www.tonogold.com/ or send mailto:ir@tonogold.com
Message sent on Thu Mar 27, 2008 at 6:22:20 AM Pacific Time
======================================================================
.
![]()