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Tournigan Energy Limited

Publié le 26 juin 2009

Positive Preliminary Assessment for Tournigan's Kuriskova Uranium Deposit

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Mots clés associés :   Canada | Euro | France | Knox | Uranium |
=======================================================================
Re:   News Release - Thursday, June 25, 2009
      Positive Preliminary Assessment for Tournigan's Kuriskova Uranium
      Deposit
=======================================================================

Vancouver, June 25, 2009 - Tournigan Energy Ltd. (TVC: TSX-V; TGP:
Frankfurt) has received a positive Preliminary Assessment on its
Slovakian Kuriskova uranium deposit from its independent consultant,
Pincock, Allen & Holt (PAH).

Highlights of the Preliminary Assessment:

..  PAH has reviewed the SRK 2009 resource estimate and believes that it
was prepared in accordance with accepted industry standards, sufficient
for purposes of the Preliminary Assessment.

..  The currently estimated mineral resources provide for underground
mining at a rate of 276,000 tonnes of material per year for
approximately 15 years. The Preliminary Assessment mine plan was based
on an underhand drift and fill mining method and assumed an external
dilution (over break) of 22% and an internal dilution of 13% both at
zero grade.

..  Initial metallurgical test work is ongoing. Results to date suggest
that uranium recoveries of 90% and molybdenum recoveries of 65% can be
achieved using conventional flotation and alkaline leaching circuits
that would produce separate uranium (yellowcake) and molybdenum
concentrates.  The average annual production of concentrates would be
approximately 627 tonnes of uranium oxide (U3O8) and 42 tonnes of
molybdenum in molybdenite.  Project economics in the base case analysis
are based on these figures.

..  The base case internal rate of return (IRR) is estimated at 32.8% on
a pre-tax basis with a 5.3 year payback on an estimated initial capital
cost of US$156 million.

..  At a 12% discount rate, the pre-tax net present value (NPV) is
estimated at US$117 million.

..  Total operating costs are estimated to be US$31 per pound of U3O8
over the mine life and during the first 5 years of production US$17 per
pound of U3O8. These costs include a byproduct credit for molybdenum of
about US$1 per pound of U3O8.  In addition, during the life of mine
there will be sustaining capital requirements of about US$88 million.
The operating costs above are exclusive of mineral royalties, which are
estimated at US$4 per pound of U3O8.

*Please see note below.

"We are greatly encouraged by the positive results of this Preliminary
Assessment which puts a value on our high-grade Kuriskova uranium
deposit," said Dorian L. (Dusty) Nicol, Tournigan's president and chief
executive officer. 

"An important purpose of the Preliminary Assessment is to determine the
potential viability of resources at an early stage.  It appears that
the project could be developed using conventional mining and processing
methods. Among the encouraging conclusions of the Preliminary
Assessment are project payback within approximately one-third of the
projected mine life and production costs substantially below projected
long-term sales prices.  Our next step is to prepare a Prefeasibility
Study that will continue to define project parameters to a higher
degree of confidence."

The development of the Kuriskova uranium project could provide Slovakia
with a secure source of uranium for approximately 30 years at its
current consumption rate. This potential energy source is in line with
the Slovakian Strategy of Energy Security. Tournigan is also encouraged
by the extent of uranium exploration and development activities in
other European countries including Sweden, Spain, Finland and Hungary.
"We believe this indicates the increasing importance of nuclear power
generation and uranium mining in the European Union," said Nicol.

Potential Opportunities

There are opportunities which may provide improvements and cost savings
for the Kuriskova project including the following:

..  Tournigan is planning a surface infill drilling program with the
objective of upgrading more of the inferred resource to the indicated
category, at a higher grade than the current inferred resource.  The
2008 drilling program more than doubled the indicated resource while
significantly increasing the grade;

..  Tournigan intends to conduct further step-out exploration drilling
where the high-grade mineralization is open along strike and at depth;

..  Additional geotechnical and hydrological studies are required to
evaluate alternative mine designs which may improve costs and schedules
for construction and mine production.

Financial Analysis

The Preliminary Assessment economic evaluation of the Kuriskova project
was based on a pre-tax financial model.  The following pre-tax
financial parameters were calculated based on long-term uranium and
molybdenum prices of US$65.00 per pound U3O8 and US$12.50 per pound of
molybdenum in molybdenite:

..  32.8% IRR;

..  5.3 year payback on US$156 million preproduction capital cost;

..  US$117 million NPV at a 12% discount rate.

The project is financially sensitive to the amount of U3O8 which is
produced per year.   This is directly related to the tonnage and grade
mined and processed annually as well as to plant recovery. 

Mineral Resource Estimate 

The current resource estimate is based on the report: "Updated NI
43-101 Technical Report on Resources, Kuriskova Uranium Project,
Eastern Slovakia," prepared by SRK Consulting (U.S.) Inc. dated April
16, 2009 (the Independent Qualified Person for this report was Allan
Moran of SRK) and summarized in the following table:

Summary Resource Statement
View Table:
http://www.tournigan.com/i/pdf/2009-06-25_NR.pdf

The Kuriskova licence area, which encompasses 31.75 square kilometers,
was issued to Ludovika Energy (Tournigan's wholly owned Slovakian
subsidiary) in March 2005 by the Geology and Natural Resources
Department at the Ministry of the Environment of the Slovak Republic,
and was renewed in April 2009 for a term of four years.

Preliminary Assessment Technical Report

A Preliminary Assessment Technical Report is being finalized to comply
with Canada's National Instrument 43-101 Standards of Disclosure for
Mineral Projects and will be filed on SEDAR within 45 days.

Qualified Person

The Preliminary Assessment was prepared by an engineering team from
Pincock, Allen & Holt (part of Runge Limited) of Lakewood, Colorado.
Authors included Mr. Terry Laverty, a registered professional engineer,
Mr. Tom Noyes, a registered professional engineer, and Mr. Ray Hyyppa,
a registered professional engineer.  Mr. Terry Laverty, the Independent
Qualified Person under the standards of NI 43-101, was PAH's Project
Manager.  Dorian L. (Dusty) Nicol, President and CEO of Tournigan
Energy Ltd., Qualified Person, has verified the technical contents of
this release.

Energy Policy of Slovakia

On October 15, 2008, the Slovakian government approved a Strategy of
Energy Security for the Slovak Republic.  This strategy emphasizes the
continued use of nuclear generated power as part of the country's
energy mix and states:

"Legislative and economic support of efficient and rational use of
domestic sources of uranium ores has the potential to decrease the
country's considerable dependency on supplies of energy resources."

In 2007, approximately 55% of Slovakia's power production of 14,200
million kilowatt-hours was produced from nuclear power plants with a
total capacity of 1,685 MW from four operating reactors.  Slovakia is
the world's third highest per capita consumer of nuclear generated
power after France and Lithuania (World Nuclear Association, 2009).
Slovakia's current uranium consumption is 313 tonnes per year.   This
does not include any future uranium requirements for reactors under
construction or being proposed.

About Tournigan

Tournigan is a uranium exploration and development company that has
built a portfolio of highly prospective assets in Slovakia, a member of
the European Union since 2004.  Slovakia is economically and
politically stable, has excellent infrastructure and, as of January 1,
2009, has adopted the Euro currency. Tournigan is committed to safe and
sustainable exploration and mine development in Slovakia.  In addition
to Kuriskova, Tournigan has five other exploration targets along the
Slovakian uranium belt which are showing positive exploration results.

* NOTE: Mineral resources that are not mineral reserves do not have
demonstrated economic viability.  This Preliminary Assessment is
preliminary in nature and includes the use of Inferred Resources which
do not have demonstrated economic viability and are considered too
speculative geologically to have economic considerations applied to
them that would enable them to be categorized as mineral reserves.
There is no certainty that the Preliminary Assessment will be realized.

TOURNIGAN ENERGY LTD.

"Dusty Nicol"                                        

Dorian L. (Dusty) Nicol, President and CEO

Forward-looking statements: Certain of the statements made in this
release, 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
Company'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.

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 release.

For further information please contact: Knox Henderson, Tournigan
Energy Investor Relations, at (604) 683-8320, or visit
www.tournigan.com.

View News Release in PDF Format:
  http://www.tournigan.com/i/pdf/2006-02-15_NR.pdf
    44 KB in size, approx. 9 seconds to download at 56.6Kbps

=======================================================================
Copyright (c) 2009 TOURNIGAN ENERGY LTD. (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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Cours de l'or et de l'argent pour les pays mentionnés : Canada | France | Tous

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 9,4 millions CA$ (7,5 millions US$, 6,6 millions €).

La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2001 à 0,03 CA$, et son plus haut niveau récent le 31 décembre 2007 à 4,50 CA$.

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

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