Monday, May 04, 2009

TNR Gold Corp. Renegotiates El Tapau Agreement. TNR.v, CDNX, MAI.to, CGH.to, HUI, XAU, GDL, DXY, SLV


Another important issue cleared by the Junior. Agreement was renegotiated in order to reflect recent market conditions and one of the most important potential discoveries will stay in TNR Gold's portfolio. Looks like Company has ability to insure property owners in its ability to develop the asset further. From all recent announcements we can make a conclusion that TNR conducts strict cash flow management, keeps all options open and move fast, where it matters most for our Next Big Thing - into Lithium space.


"Press Release Source: TNR Gold Corp.
TNR Gold Corp. Renegotiates El Tapau Agreement
On Monday May 4, 2009, 6:27 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News) is pleased to provide an update to the El Tapau property, a copper-gold prospect located in the province of San Juan, Argentina.
Petra Gold Servicio Mineros and Gustavo Pezzani ("property optionors") have agreed to amend the terms of the option agreement dated August 29, 2007 which granted the Company a right to earn a 70% interest in the property by expending US$3,000,000 in exploration over four years and making option payments of US$1,000,000 over 5 years. The amended agreement postpones the US$100,000 payment due on December 10, 2008 to US$15,000 upon signing the amended agreement, four additional payments of US$15,000 on or before the 10th day of May, July, September and November 2009 and a final payment of US$25,000 on December 10, 2009.
TNR believes the El Tapau project is a key Argentinean asset with considerable potential based on encouraging results of high grade gold and silver in addition to wide lengths of copper encountered in the 2008 exploration program.
THE EL TAPAU PROJECT
The El Tapau Project, consisting of 3,400 hectares and is believed to host both intrusive-related copper-gold and epithermal gold system in the Frontal cordillera of the eastern Andes. Numerous historical underground copper mines are located on the claim, and quartz stockwork zones are common throughout the project area. Located within the famous "Yellow Belt" district of San Juan province, Argentina, El Tapau is strategically located just 50 km from TNR's El Salto project and 130 km from San Juan city. Drilling programs in 2008 yielded gold, silver, and copper intercepts including 0.49% Cu over 82.25 metres and 9.15 g/t Au and 78.98 g/t Ag over 0.75 metres.
Ike Osmani, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
ABOUT TNR
TNR is a diversified metals exploration company focused on identifying new prospective projects globally with 22 properties currently in its portfolio, of which 5 properties will be subject to the proposed spin-off of International Lithium Corp. as announced in TNR's news release dated April 27th, 2009.
In anticipation of the surging international lithium demand in various high tech and efficient energy applications, TNR has actively pursued an aggressive global acquisition strategy for Lithium and Rare Metals projects of merit. This further confirms the company's commitment to project generation, market diversity, and building shareholder value.
On behalf of the board,
Gary Schellenberg, President"
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