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Re: News Releases - Tuesday, August 07, 2007
Tonogold Resources, Inc. Updates Nyac Information with Coarse
Gold Report
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LA JOLLA, CA - August 7, 2007 -- Tonogold Resources, Inc. (Pink
Sheets:TNGL) has issued a report on the implications of coarse gold in
the 2006 drill samples at the Nyac, Alaska Gold Project.
Comparison of Nyac's coarse and fine drill core assays revealed gold in
most of Bonanza Ridge's numerous shear veins cutting the Bonanza
Pluton. Values in the coarse fraction increase with depth. These two
insights were not readily apparent when only total gold results were
considered.
Five of the eleven holes drilled in 2006 encountered anomalous coarse
gold in 85 assay intervals. Gold content in the coarse fraction of
these intervals ranged from 0.3 to 137 ppm Au, while total gold content
in the anomalous intervals ranged from 0.3 to 8.2 ppm Au. Gold content
in the fine fraction assayed up to 5.5 ppm Au in these same intervals.
The coarse sample fraction ranged from 1% to 9% by weight in all 85
intervals. Coarse fractions of 16 of these intervals, from four holes
at Bonanza Ridge and one at Shamrock Ridge, averaged less than 3% by
weight, yet they contributed an average of 35% of total gold content.
Coarse gold occurs over at least 250 vertical meters within the
southeastern half of the very large Bonanza soil anomaly. The
northwest half of the Bonanza soil anomaly, apparently the most
structurally complex, has not been drilled. Coarse gold values in the
four holes drilled into the Bonanza Pluton increase with depth.
Donald G. Strachan, Vice President of Exploration for Tonogold, said:
"Our first opportunity to plot and compare coarse gold values within
the Bonanza Pluton validates our dedication to the Nyac project."
To view the entire report, "Implications of Coarse Gold in 2006 Drill
Samples" visit Tonogold's website at www.tonogold.com/s/Nyac.asp, or
contact the corporate office to request a copy.
Tonogold Resources, Inc. is a minerals exploration company based in La
Jolla, California with properties in Alaska and Nevada. The company
also has a project office in Carson City, Nevada. For more information
on the Company visit their website www.tonogold.com.
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995
This press release contains certain forward-looking information about
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),"
"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 right 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
operation 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:
Contact:
Phillip Winter
858-456-1273
ir@tonogold.com
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Copyright (c) 2007 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 Tue Aug 7, 2007 at 9:14:37 AM Pacific Time
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