TNR Gold Corp.(�TNR�) has filed a Canadian National Instrument
43-101-compliant report on SEDAR on its Shotgun project, a gold prospect,
located in the state of Alaska in the USA.
This report was written by John Harrop, P.Geo, and summarizes recent work
and historic data available on the project and makes recommendations for further
exploration.
The detailed technical report is available on SEDAR (
www.sedar.com) and TNR encourages the public to
review this report.
SHOTGUN PROJECT
Since 2003, TNR has followed a strategy on the Shotgun Project aimed at
identifying new mineralized zones in addition to Shotgun Ridge. All known
prospects in the area were systematically examined and focus was drawn to the
most promising targets. The successful discovery of a mineralized zone at
Winchester is due to the execution of this strategy. In total, 1,653
metres of drilling in 17 holes has been completed at the Winchester zone.
Seven of these holes form a section through Winchester Ridge and results include
23.6 metres grading 1.90 g/t Au (drill width).
Drilling during 2006 at Shotgun Ridge intercepted 210.5 metres grading 1.29
g/t Au. Results from this drill hole were key in enabling TNR staff to
identify two steeply dipping feeder zones and structurally reinterpret the
Shotgun Ridge zone. Based on this new interpretation the zone appears to
be open at depth where previous work had suggested otherwise.
A $3.1M programme has been recommended which includes drilling at both
Winchester and Shotgun Ridge in addition to further surface work on the Shot and
King prospects.
The Shotgun project is located 175 kilometres south of Donlin Creek
within the Kuskokwim Gold Belt in Southwestern Alaska, an area emerging as a
world-class gold district hosting more than 40 million ounces of aggregated gold
resources. The Shotgun project includes a number of prospects, including Shotgun
Ridge and nearby Winchester. Donlin is an intrusion-associated system and
represents one of the largest undeveloped gold deposits in the world. (See
www.novagold.net) The Company believes that
there are several key similarities between prospects in the Shotgun area and
that of the Donlin Creek gold deposit as well as other intrusion-associated
deposits.
TNR has earned a 50% interest from NovaGold Resources Inc. in the
Shotgun project.
Previous work at Shotgun Ridge by NovaGold Resources Inc. has estimated a historical resource of 980,000 ounces grading 0.93 gram per tonne
(g/t) at a cut-off of 0.5 g/t (National Instrument 43-101non-compliant
resources).The geology and style of mineralization at Shotgun is very similar to
the Dome area of the Donlin deposit.
EUREKA PROJECT UPDATE:
On March 31, 2007, TNR entered into an option agreement with Dr. Fabio
Montanari (�Montanari�), the option vendor, to acquire a 75% interest in the
property. On March 7 2008, Soltera Mining Corp. (�Soltera�) announced that
Montanari assigned the underlining option agreement on the property to Soltera.
TNR consented to the assignment of the agreement and still maintains its option
to acquire a 75% interest in the property, now from Soltera. TNR has agreed to
expend a total of US$3,000,000 in exploration and option payments before April
20, 2010, with a minimum expenditure of US$500,000 per year.
Exploration work currently being done on the property includes detailed
geological mapping, trenching, geochemical sampling and a 3D IP survey. The
property contains over 5 km of historic underground workings which are currently
being cleaned out, sampled and analyzed for copper, gold and other elements. A
3,000 metre drill program is planned to commence in early May and be completed
by late June 2008.
The 10,192.34 hectare Eureka project is located in the northwest corner
of Jujuy Province in northern
Argentina, near the border with Bolivia. The
property is accessible from the provincial capital of San Salvador de Jujuy,
approximately 4 hours to the south, and easy access within the property by a
series of gravel roads. For further information on the Eureka project please
visit our website at
www.tnrgoldcorp.com.
ABOUT TNR GOLD CORP.
TNR is a base and precious metals exploration company focused on
aggressively identifying new prospective projects as well as fostering work on
its large portfolio of 16 properties in
Argentina and Alaska. The company's
focus over the next 12 months is the exploration and development of its Eureka,
El Salto and El Tapau properties in
Argentina and Shotgun project in
Alaska.
This news release has been prepared under the supervision of John
Harrop, P.Geo, TNR�s qualified person on this news release.
On behalf of the board,
Gary Schellenberg
President
604-687-7551
1-800-667-4470
The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this news release. Statements in this press
release other than purely historical information, historical estimates should
not be relied upon, including statements relating to the Company�s future plans
and objectives or expected results, are forward-looking statements. News release
contains certain "Forward-Looking Statements" within the meaning of Section 21E
of the United States Securities Exchange Act of 1934, as amended.
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 resource exploration and development. As a result, actual
results may vary materially from those described in the forward-looking
statements.