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Tournigan Energy Limited

Publié le 02 mars 2009

Completes Sale of U.S. Uranium Properties

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Mots clés associés :   Euro | Europe | Knox | Uranium |

Re:        News Releases - Monday, March 02, 2009
Title:     Tournigan Completes Sale of U.S. Uranium Properties

Vancouver, March 2, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has closed the transaction announced on October 2, 2008 with Fischer-Watt Gold Company, Inc. ("Fischer-Watt") whereby Fischer-Watt acquired Tournigan USA Inc. ("TUSA") for certain deferred cash payments.

"The sale of TUSA was a key step in renewing Tournigan's focus on our European properties," said Dorian L. (Dusty) Nicol, Tournigan's president and CEO. "This transaction allows us to dedicate our resources to advancing the Kuriskova uranium deposit and our other Slovakia properties but still preserves upside in the U.S. uranium properties for Tournigan shareholders."

Under the terms of the agreement, Tournigan will keep a 30% carried interest in each TUSA property up to the completion of a feasibility study for any project encompassing any such property (a "Project"). Upon completion of a feasibility study, the Company's carried interest in respect of such property will convert into a 30% working interest in the Project or the Company will have the option to dilute down to a 5% net profits interest. Fischer-Watt delivered to the Company a promissory note in the amount of US$325,327, including the closing date working capital adjustment (the "Promissory Note"). Fischer-Watt will secure the release of TUSA's reclamation bonds and reimburse the Company the amount of US$930,000 less any applicable reclamation costs (the "Reclamation Receivable"). The Reclamation Receivable is expected to be in the amount of approximately US$875,000. Both the Promissory Note and the Reclamation Receivable are unsecured, non-interest-bearing and due August 31, 2009. Fischer-Watt is a Nevada-incorporated mineral exploration and development company with an existing gold property in Arizona. The Chairman, President and CEO of Fischer-Watt is Mr. Peter Bojtos, who is a director of the Company. The TSX-V has approved this related party transaction.

About Tournigan Energy Ltd.

Tournigan Energy is a uranium and gold exploration and development company that has built a portfolio of highly prospective assets in Europe. The company has focused its development and obtained licences in Slovakia, a member of the European Union since 2004. Slovakia is economically and politically stable, has excellent infrastructure, an educated population and, as of January 1, 2009, has adopted the Euro currency. Tournigan Energy is committed to safe and sustainable exploration and mine development in Slovakia and its other operational jurisdictions.

TOURNIGAN ENERGY LTD.

"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO

Forward-looking statements: Certain of the statements made herein, including any information as to the Company'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. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 Energy Investor Relations, at (604) 683-8320 or visit www.tournigan.com.

Copyright � 2009 TOURNIGAN ENERGY LTD. (TSXV-TVC) All rights reserved. For more information visit our website at http://www.tournigan.com/ or send email to info@tournigan.com ..
Message sent on Mon Mar 2, 2009 at 6:06:48 AM Pacific Time
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Tournigan Energy Limited

EXPLORATEUR
CODE : TVC.V
ISIN : CA8915651035
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Tournigan Energy Ltd. est une société d’exploration minière d'or et d'argent basée au Canada.

Tournigan Energy Ltd. détient divers projets d'exploration en Slovaquie.

Ses principaux projets en exploration sont NOVOVESKA HUTA et KURISKOVA en Slovaquie et CURRAGHINALT en Irlande.

Tournigan Energy Ltd. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 6,2 millions CA$ (5,0 millions US$, 4,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 4,50 CA$, et son plus bas niveau récent le 28 juin 2022 à 0,03 CA$.

Tournigan Energy Ltd. possède 208 018 000 actions en circulation.

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Rapports annuels de Tournigan Energy Limited
2008 Annual Report
2007 Annual Report
Financements de Tournigan Energy Limited
05/01/2012Closes Private Placement With Areva, And Welcomes Andreas M...
14/07/2010Closes Private Placement
29/06/2010Plans Private Placement
Nominations de Tournigan Energy Limited
30/01/2009Cuts Costs, Opens Denver Office, Appoints CFO, Corporate Sec...
03/11/2008Appoints VP Engineering / Environmental and VP Exploration
08/08/2007Appoints New Chairman
Projets de Tournigan Energy Limited
01/03/2012To Open March 1, 2012 As European Uranium Resources Ltd.
22/02/2012Takes Final Steps To Become European Uranium Resources Ltd.
30/11/2011(Novoveska Huta)Files Technical Report For Novoveska Huta Resource
26/04/2011(Kuriskova)Increases Indicated Resource at Kuriskova by 39% to 28.5 Mil...
07/03/2011(Kuriskova)Continues to Improve Grade in Kuriskova's Main Zone South
03/08/2010(Kuriskova)Metallurgical Testing For Prefeasibility Study Indicates Ura...
24/03/2010(Kuriskova)Increases Indicated Resource, Adds High Grade, at Kuriskova ...
23/11/2009(Kuriskova)Discovers New Zone of High Grade Mineralization at Kuriskova
09/11/2009(Kuriskova)Drills More High Grade Uranium at Kuriskova
03/11/2009(Kuriskova)Initial Metallurgical Testing at Tournigan's Kuriskova Proje...
19/10/2009(Kuriskova)Awards Prefeasibility Study of Kuriskova Uranium Deposit
01/10/2009(Kuriskova)Resumes Drilling at Kuriskova Uranium Deposit
30/09/2009(Curraghinalt)Sells Curraghinalt Gold Project
27/07/2009Files Technical Report
26/06/2009(Kuriskova)Positive Preliminary Assessment for Tournigan's Kuriskova Ur...
08/06/2009(Kremnica Mine)Signs Option Agreement on Kremnica Gold Property
24/02/2009(Kuriskova)Doubles Contained Uranium and Increases Grade of Indicated R...
19/01/2009(Kuriskova)Provides Update on Kuriskova Uranium Deposit in Slovakia
10/09/2008(Kuriskova)Adds Uranium Mineralization at Kuriskova and Novoveska Huta
29/08/2008(Kuriskova)Files Kuriskova Technical Report
16/07/2008(Kuriskova)Upgrades Portion of Kuriskova Resource to Indicated Category...
23/04/2008(Kuriskova) Continues Reporting High Grade Uranium Assays at Kuriskova,...
08/04/2008(Kuriskova)Reports High Grade Chemical Assay Results at Kuriskova
28/02/2008(Curraghinalt)Confirms High-Grade Gold Veins at Curraghinalt with Addition...
21/02/2008(Kuriskova)Kuriskova Infill Drilling Returns More High Grade Uranium
05/12/2007(Curraghinalt) Announces Significant Increase in Curraghinalt Gold Resourc...
Communiqués de Presse de Tournigan Energy Limited
13/03/2012(Kuriskova)European Uranium Files Technical Report For Kuriskova Prelim...
01/03/20122012 Outlook
02/02/2012in Northern Miner
30/01/2012(Kuriskova)Prefeasibility Study Indicates Kuriskova Could be Among Worl...
28/12/2011News Release
07/12/2011Forges Alliance With Areva, Acquires Scandinavian Uranium As...
23/08/2011(Kuriskova)Geotechnical Drilling Hits Uranium Mineralization at Much Hi...
09/08/2011(Kuriskova)s Progress on Prefeasibility Study for Kuriskova
08/04/2011Elects New Board Member
20/07/2010Mobilizes Zone 45 Drill Program
30/04/2010files Voluntary U.S. Deregistration
15/04/2010completes sale of Kremnica to Ortac
14/01/2010Cuts 4.5 Metres of 0.977 Percent eU3O8 at Kuriskova
05/01/2010Sale of Irish Property Brings Year-End Cash Up to $5.6 Milli...
10/12/2009Members of Parliament Did Not Agree with Uranium Mining Ban
02/11/2009Closes $5.5 Million Dalradian Sale
02/03/2009Completes Sale of U.S. Uranium Properties
23/12/2008Finalizes Dalradian Gold Agreement in Northern Ireland
02/10/2008Arranges Sale of Non-Core Assets in Northern Ireland and the...
04/09/2008A Letter to Shareholders from Dorian L. (Dusty) Nicol, Presi...
09/07/2008Information Now Available Through S&P Market Access Program
15/05/2008Provides Clarification
05/05/2008Name Change to Tournigan Energy Ltd. Focus on Kuriskova Uran...
19/03/2008's Uranium Targets Continue to Expand
04/03/2008 Completes Acquisition of US Uranium Interests
08/02/2008Extends Uranium Roll-front in Wyoming
31/01/2008Adopts Shareholder Rights Plan
15/01/2008Hits Uranium in Wyoming
24/10/2007 Announces Exploration Property Resource Changes, Restatemen...
12/10/2007Tournigan U.S. Uranium Acquisition Agreement and Reorganizat...
19/07/2007 Project Updates
29/05/2007Receives Positive Pre-feasibility on Kremnica Gold
28/05/2007Seeks to Unlock Shareholder Value by Separating
07/05/2007Tournigan's Resource at Kuriskova (Jahodna) Almost Triples t...
19/04/20072007 Operational Update - Uranium Properties
29/03/2007Adds Claims in Wyoming
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