TNR Gold Corp

Published : August 13th, 2014

TNR Gold Corp. Comments on Recent News by McEwen Mining on the Los Azules Copper Project, Argentina

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Keywords :   Argentina | China | Copper | Gold | Lead | Lithium | Peru |

TNR Gold Corp. Comments on Recent News by McEwen Mining on the Los Azules Copper Project, Argentina

Vancouver, B.C. / ACCESSWIRE / August 13 2014 / TNR Gold Corp. (the "Company" or "TNR") (TSX VENTURE:TNR.V ) advises that McEwen Mining Inc. (NYSE:MUX, TSX:MUX) ("McEwen Mining") has issued news releases dated 17 July, 2014 and 07 August, 2014 in relation to the Los Azules Copper Project in San Juan Province, Argentina. TNR holds a 25% back-in right, exercisable upon the completion of a feasibility study, on the northern part of the Los Azules property.

The news releases issued by McEwen Mining summarize the results of an impairment test conducted on Los Azules as a result of the recently announced acquisition of Lumina Copper Corp. by First Quantum Minerals Ltd. to gain ownership of the Taca Taca copper project in Salta, Argentina. McEwen Mining recognized that the similarities between Los Azules and Taca Taca in terms of project scale and location within Argentina gave sufficient cause for the impairment analysis that resulted in McEwen Mining recording an impairment charge for Los Azules in its second quarter.

The Company is of the view that the impairment recorded by McEwen Mining on Los Azules does not have an adverse affect on the Company's valuation of its back-in right in the Los Azules deposit and the ongoing evaluation of the sale of its rights to the deposit (see TNR news release May 8, 2013).

In their press release dated 17 July 2014 Rob McEwen states, "With First Quantum acquiring Lumina Copper and their Taca Taca project, Los Azules moves to the forefront in terms of world-class, undeveloped, high-grade copper assets not owned by a major mining company. As we have said in the past, Taca Taca serves as a good proxy for the value of Los Azules and we believe this transaction demonstrates value in projects located in Argentina." The news release is available at SEDAR http://www.sedar.com and on the McEwen Mining website http://www.mcewenmining.com. TNR encourages its shareholders to read the press releases issued by McEwen Mining to gain a better understanding of the work performed and the potential impacts this will have on the project.

McEwen Mining's press releases appear to be prepared by Qualified Persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR Gold Corp. has done sufficient work to analyze, interpret, classify or verify McEwen Mining's information to determine the current mineral reserve or resource or other information referred to in the press release. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

"Los Azules is a unique, long-life, copper mining opportunity in Argentina. Recent acquisitions that include the Las Bambas copper mining project in Peru acquired by Minmetals Group from China and the Taca Taca copper deposit in Argentina acquired by First Quantum Minerals confirm there is significant value to be realized for projects in this region. We are pleased that large-scale, capital intensive projects like Los Azules are attracting attention from global mining companies, increasing our ability to monetize our portion of the asset. In our opinion, McEwen Mining's latest analysis provides a solid base value for the asset," commented Mr. Kirill Klip, Non-Executive Chairman of TNR.

ABOUT LOS AZULES

The Company has a 25% back-in right in the Northern Portion of the Los Azules property which is exercisable following the completion of a feasibility study. If the Company elects to back-in for 5% or less or has its interest diluted to 5% or less, TNR will receive a net smelter royalty of 0.6% from the Northern Portion.

The Los Azules copper deposit is located in the San Juan province of Argentina. McEwen Mining Inc. is the current operator on the Los Azules copper deposit and the Company has previously advised that on May 15, March 28, and March 13, 2013, McEwen Mining Inc. issued press releases in relation to the deposit, which are accessible on Sedar at http://www.sedar.com and on McEwen Mining Inc's website at http://mcewenmining.com.

ABOUT TNR GOLD Corp. (www.tnrgoldcorp.com)

Over the past twenty-one years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.

TNR Gold recently reported an inferred mineral resource at the Shotgun Gold project in Alaska containing 20,734,313 tonnes at 1.06 grams per tonne ("g/t") gold for a total of 705,960 ounces gold ("Au") using a 0.5 g/t Au cut-off (see news release dated 22 April 2013).

TNR is also a major shareholder of International Lithium Corp. (TSX:ILC.V) ("ILC"), a company created by TNR to advance its internationally acquired lithium prospects. TNR currently holds about 25.5% of the outstanding shares of ILC.

At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.

John Harrop, PGeo, FGS, is a "Qualified Person" as defined under NI 43-101 and has reviewed and approved the technical content of this news release.

For further details please see our website at http://www.tnrgoldcorp.com/s/NewsReleases.asp

On behalf of the board,

Gary Schellenberg

President


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Q&A. Statements in this Q&A 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. Q&A may contain 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.

SOURCE: TNR Gold Corp.

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TNR Gold Corp

EXPLORATION STAGE
CODE : TNR.V
ISIN : CA87262G1046
CUSIP : 87260X 109
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TNR is a gold development stage company based in Canada.

TNR holds various exploration projects in Argentina.

Its main exploration properties are MOOSE 2, FISH LAKE VALLEY, MUD LAKE BASIN, FORGAN LAKE, NIEMI LAKE, ILLIAMNA - BRISTOL and MAVIS LAKE in Canada, BLACKSTAIRS in Ireland and NORTHERN PROPERTIES, MARIANA (TNR), BATIDERO GOLD, LA CAROLINA, LAS CARACHAS, LA ORTIGA, EL TAPAU, EL SALTO ARGENTINA, EUREKA ARGENTINA, SHOTGUN and LOS AZULES ARGENTINA in Argentina.

TNR is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.0 millions as of today (US$ 4.8 millions, € 4.2 millions).

Its stock quote reached its highest recent level on June 15, 2001 at CA$ 0.85, and its lowest recent point on November 06, 2015 at CA$ 0.01.

TNR has 149 820 000 shares outstanding.

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Financings of TNR Gold Corp
4/18/2008Closes Brokered Private Placement of 9,500,000 Units
Nominations of TNR Gold Corp
10/2/2012. Appoints Greg Johnson To The Board
Project news of TNR Gold Corp
9/13/2012(Shotgun)Intersects 242 Metres of 1.25 g/t Gold on New Geophysical Ta...
7/18/2008(El Tapau)Commences 3,000 Metre Drill Program at El Tapau
6/3/2008(El Salto Argentina)Argentina Exploration Updates
4/18/2008(Los Azules Argentina) Minera Andes Drill 132M or 1.11% Copper at Los Azules
4/15/2008(La Carolina)LATIN AMERICA MINERALS EXERCISES OPTIONS TO ACQUIRE A 75% IN...
3/13/2008(Los Azules Argentina)PROJECT DRILL RESULTS
3/12/2008(Shotgun)REPORT ON ITS SHOTGUN PROJECT ON SEDAR/EUREKA PROJECT UPDATE
2/28/2008(El Salto Argentina)EL SALTO DRILL PROGRAM INCREASED FROM 3,000 METRES TO 10,500...
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7/14/2016TNR Gold Holds 2016 Annual General Meeting
1/5/2016TNR Gold Corp. Announces Restructure of Loan
10/17/2014TNR Gold Corp. and McEwen Mining Inc. Agree to Convert TNR’s...
8/13/2014TNR Gold Corp. Comments on Recent News by McEwen Mining on t...
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6/13/2014TNR Gold Corp. Incentive Stock Options Granted
5/9/2014TNR Gold Holds 2014 Annual General Meeting /Overwhelming Sha...
3/27/2014TNR Gold, Cayden Resources and Garibaldi Resources Featured ...
2/5/2013Finalizes Los Azules Settlement with McEwen Mining
11/12/2012Los Azules Copper Property Lawsuit Against McEwen Mining Set...
11/12/2012Los Azules Copper Property Lawsuit Against McEwen Mining Set...
6/28/2011Advises of Minera Andes Drill Results and Development Update...
6/23/2011Notes Minera Andes Inc.-US Gold Corp. Merger Litigation Upda...
6/16/2011orate Update Post Lithium Spinoff
5/20/2011.: International Lithium Corp. Listing Date
5/12/2011.: International Lithium Corp. Spin-Out Record Date Set
4/8/2011. La Ortiguita Drill Program Expanded By 60%
3/1/2011.: Seabrook Ree Carbonatite Acquired; Sault Ste. Marie, Onta...
7/2/2008Commences Legal Action to confirm Escorpio IV Ownership
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