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Re: News Release - Thursday, February 28, 2008
Tournigan Confirms High-Grade Gold Veins at Curraghinalt with
Additional Deep Drill Hole
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Vancouver, February 28, 2008 -- Tournigan Gold Corporation (TVC:TSX-V;
TGP: Frankfurt) today provided the results of a deep drill hole, CT-53,
at its Curraghinalt gold deposit in Northern Ireland. The hole was not
previously disclosed in the resource estimate announced December 5,
2007, as it was completed post deadline for resource evaluation.
CT-53 was drilled to a depth of 501 metres and located to the north of
the main resource zone. It was drilled as part of an ongoing program of
testing the down dip extension of the main resource. The hole
intersected 16 mineralized veins including seven of particularly high
grade. CT-53 returned similar vein grades and widths to those recorded
in hole CT-26; the last deep hole in the deposit that was included in
the December resource estimate.
Highlights include:
+--------+-------+----------+----------+
| | |*Width (m)| |
|*From * |*To * |* |*g/t Au * |
+--------+-------+----------+----------+
|57.25 |58.25 |1.00 |9.0 |
+--------+-------+----------+----------+
|78.37 |79.37 |1.00 |9.7 |
+--------+-------+----------+----------+
|165.64 |166.64 |1.00 |18.1 |
+--------+-------+----------+----------+
|175.58 |176.58 |1.00 |10.6 |
+--------+-------+----------+----------+
|370.04 |371.04 |1.00 |15.7 |
+--------+-------+----------+----------+
|430.07 |431.12 |1.05 |66.9 |
+--------+-------+----------+----------+
|444.79 |445.79 |1.00 |22.8 |
+--------+-------+----------+----------+
More details of the significant intercepts are listed below.
"Hole CT-53 elevates our confidence in the structure and down dip
extension of these high-grade gold veins at Curraghinalt," said
Tournigan president and CEO, James Walchuck. "We will continue to drill
at depth and along strike to extend this resource with plans for a
further 4,000 metres of infill and step out drilling in 2008."
The December 5, 2007 Curraghinalt resource estimate was prepared by
independent consultant Micon International Limited of Toronto. It
reported an indicated resource of 250,000 ounces of gold contained in
570,000 tonnes of material with an average grade of 13.95 grams of gold
per tonne, and an inferred resource of 350,000 ounces of gold contained
in 640,000 tonnes of material with an average grade of 17.15 grams of
gold per tonne based on a cut-off of 6 grams of gold per tonne and a
minimum vein width of 1 metre.
Vaughan Williams, P. Geo., Eur. Geol., of Aurum Exploration Services,
Tournigan's consulting geologist and a Qualified Person as defined by
National Instrument 43-101, has reviewed and approved the technical
disclosure contained herein.
Significant intercepts in drill hole CT-53 are as follows:
+--------+-------+----------+----------+
| | |*Width (m)| |
|*From * |*To * |* |*g/t Au * |
+--------+-------+----------+----------+
|57.25 |58.25 |1.00 |9.0 |
+--------+-------+----------+----------+
|78.37 |79.37 |1.00 |9.7 |
+--------+-------+----------+----------+
|107.78 |108.03 |0.25 |3.4 |
+--------+-------+----------+----------+
|116.98 |117.98 |1.00 |5.5 |
+--------+-------+----------+----------+
|141.71 |142.74 |1.03 |3.7 |
+--------+-------+----------+----------+
|165.64 |166.64 |1.00 |18.1 |
+--------+-------+----------+----------+
|168.35 |169.45 |1.10 |5.6 |
+--------+-------+----------+----------+
|175.58 |176.58 |1.00 |10.6 |
+--------+-------+----------+----------+
|276.24 |278.24 |1.00 |2.8 |
+--------+-------+----------+----------+
|370.04 |371.04 |1.00 |15.7 |
+--------+-------+----------+----------+
|375.85 |376.85 |1.00 |5.0 |
+--------+-------+----------+----------+
|395.94 |396.19 |0.25 |8.2 |
+--------+-------+----------+----------+
|430.07 |431.12 |1.05 |66.9 |
+--------+-------+----------+----------+
|444.79 |445.79 |1.00 |22.8 |
+--------+-------+----------+----------+
|465.57 |466.57 |1.00 |2.9 |
+--------+-------+----------+----------+
|495.13 |495.38 |0.25 |5.7 |
+--------+-------+----------+----------+
The following images are available from Tournigan's web site:
www.tournigan.com
A plan map showing drill locations: Appendix I
A section map of highlighting CT-53: Appendix II
A table showing intercepts of CT-53 and CT-26: Appendix III
Grant of Stock Options
The Corporation also announces the grant of 1,812,500 incentive stock
options to directors, officers, employees and consultants of the
Corporation at an exercise price of $1.16 being the closing price of
the Corporation's common shares on the TSX Venture Exchange on February
27, 2008. The stock options are subject to vesting provisions and the
terms and conditions of the Corporation's Stock Option Plan. The stock
options will expire after a period of five years from the date of
issuance and are subject to regulatory approval.
About Tournigan
Tournigan is a mineral resource company that has built a portfolio of
highly prospective uranium and gold properties in both Europe and North
America. The company has obtained licenses in countries that are
economically and politically stable, have good infrastructure, and a
highly educated population.
On behalf of the Board of Directors of
TOURNIGAN GOLD CORPORATION
"James Walchuck"
James Walchuck, President and CEO
Forward-looking statements: Certain of the statements made herein,
including any information as to the Corporation's future financial or
operating performance, may be forward-looking and subject to important
risk factors and uncertainties, many of which are beyond the
Corporation's ability to control or predict. Forward-looking statements
are necessarily based on a number of estimates and assumptions that are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could cause
actual results to differ materially from those projected in the
forward-looking statements. Such factors include, among others: gold
and uranium price volatility; impact of any hedging activities,
including margin limits and margin calls; discrepancies between actual
and estimated production, between actual and estimated reserves and
resources and between actual and estimated metallurgical recoveries;
changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in Canada,
the United States, Ireland or other countries in which the Corporation
does or may carry on business in the future; risks of sovereign
investment; the speculative nature of gold and uranium exploration and
development, including the risks of obtaining necessary licenses and
permits; dilution; competition; loss of key employees; additional
funding requirements; and defective title to mineral claims or
property. In addition, there are risks and hazards associated with the
business of gold and uranium exploration, development and mining,
including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance or inability to obtain
insurance, to cover these risks), as well as the factors described or
referred to in reports filed by the Corporation with the Canadian
securities administrators. Accordingly, readers should not place undue
reliance on forward-looking statements. The Corporation undertakes no
obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated
events.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information please contact:
Knox Henderson, Tournigan Investor Relations, at +(604) 637-3563, or
visit www.tournigan.com
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Copyright (c) 2008 TOURNIGAN GOLD CORPORATION (TSXV-TVC) All rights
reserved. For more information visit our website at
http://www.tournigan.com/ or send mailto:info@tournigan.com
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