TNR Gold TNR.v Amends Legal Action to Seek Rectification Confirming 25% Back-In Right. MAI.v

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 3, 2008) - TNR Gold Corp. ("TNR" or the "Company") (TSX VENTURE:TNR - News; PINK SHEETS:TRRXF - News) advises that, on August 8, 2008, it amended its writ of summons in the action commenced on June 30, 2008 in the Supreme Court of British Columbia against MIM Argentina Exploraciones S.A. ("MIM") a subsidiary of Xstrata PLC. ("Xstrata"). In the amended action TNR is adding:
"Further, the Exploration and Option Agreement, to the extent that it purports to terminate Solitario's (TNR's Argentina subsidiary) right to buy back equity in mining and exploration tenures acquired by MIM pursuant to the Exploration and Option Agreement if MIM fails to complete a feasibility study on any part of the properties within 36 months of exercising its option does not reflect the true agreement and common intention of the parties and was the result of a mutual mistake of the parties. The true agreement of the parties was reflected in the Letter of Understanding which provided that Solitario's back-in right subsists until 120 days after completion by MIM of a feasibility study on any part of the acquired properties. The plaintiffs therefore seek rectification of the Exploration and Option Agreement to accord with the true intentions of the parties.
Further, or in the alternative, the 36 month provision in the Exploration and Option Agreement was inserted by MIM without consideration and is unenforceable.
Further, or in the alternative, Solitario says that MIM is in breach of the Exploration and Option Agreement by entering into an agreement or agreement with a third party to undertake exploration work on the acquired properties without requiring the third party to complete a feasibility study on any of the properties within any time frame."
LOS AZULES /ESCORPIO IV UPDATE
The following is a summary in chronological order of recent events, news releases, and developments from Minera Andes Inc. ("MAI") pertinent to the Los Azules property that had not been previously released by TNR.
On September 25, 2008, MAI announces excellent metallurgical testing results at Los Azules, recovering up to 96% copper. In addition a costing and operational cost scoping study is scheduled for completion in December 2008.
On September 8, 2008, MAI announces a mineral resource estimate of 922 million tonnes of 0.55% copper as Los Azules, totalling to approximately 11 billion pounds of copper.
For more information about specific news release details, please refer to MAI's news and investor section directly.
ABOUT TNR
TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 15 properties in Argentina. The company's focus over the next 12 months is the exploration and development of its El Tapau, El Salto, and Eureka projects in Argentina as well as overseeing the exploration and development of the Iliamna and Shotgun projects in Alaska through its wholly owned US subsidiary.
CUSIP: #87260X 109
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Minera Andes MAI.v, Xstrata XTA.l and TNR Gold TNR.v in Los Azules copper project latest developments

The area is getting more interest and latest developments will bring new opportunities for all parties:

"Located in the San Juan province of Argentina, about 30 kilometers from the Chilean border in the Andes, the Los Azules copper project is evolving into a sizeable discovery. In November of 2007, Minera Andes put together the tentative option agreement with Xstrata Copper Americas. “This particular project had Xstrata owning the northern half of the target and we own the southern half,” said Ambrose, noting that the deal was constructed to consolidate both halves into one project. “Our deal with Xstrata is to bring it along and present them with a scoping study, which we hope to do by year-end. And then Xstrata will have to pay us back three times our expenditures if they exercise their option. And they have to complete a bankable feasibility study, and then they would earn a 51 percent interest and become the operator.”

http://www.goldminingnews.com/featured.aspx?ArticleID=41358

July 02, 2008TNR Commences Legal Action to confirm Escorpio IV Ownership

"Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") advises that on June 30, 2008 it commenced an action in the Supreme Court of British Columbia against MIM Argentina Exploraciones S.A. ("MIM") a subsidiary of Xstrata PLC. ("Xstrata"). In the action TNR is seeking:
a declaration that the Escorpio IV property is excluded from the Exploration and Option Agreement entered into between TNR's Argentina subsidiary, Compania Minera Solitario S.A. ("Solitario") and MIM governing the Los Azules Project (the "Option Agreement");
a declaration that the defendant MIM has no contractual right to assert an ownership interest in Escorpio IV;
such further declaratory relief as may be requested and is appropriate in the circumstances; and
judgment for damages against MIM. The Escorpio IV Property is registered in the name of Solitario and is adjacent to the western border of the Los Azules property, currently being drilled by Minera Andes Inc., under an Option from MIM. Los Azules is located near the Argentina/Chile border in San Juan province, Argentina.TNR asserts that on October 20, 2003, MIM assigned to Solitario all of its rights, including any and all rights it had or might be entitled to with respect to Escorpio IV and that Escorpio IV is not a property subject to the Option Agreement. MIM has taken the position that Escorpio IV is or was subject to the Option Agreement, and as such is part of the Los Azules Project earned into by MIM. In the face of MIM's assertion of its position, TNR has been forced to seek the Court's determination of the issue.ABOUT TNR GOLD CORP.TNR is a base and precious metals exploration company focused on aggressively identifying new prospective projects as well as fostering work on its large portfolio of 17 properties in Argentina and Alaska. The company's focus over the next 12 months is the exploration and development of its Eureka, El Salto, and El Tapau in Argentina and Shotgun project in Alaska.

On behalf of the board,Gary SchellenbergPresident"

XSTRATA AND TNR ENGAGED IN MINING RIGHTS DISPUTE

"Thursday, 05 June 2008
Swiss mining giant Xstrata is in a dispute with the Canadian mining company TNR over the rights to “Escorpio IV,” a mining deposit on the border between Chile’s Region III and Argentina’s San Juan province.
TNR has already begun prospecting and the engineering process for its Los Azules project in the Argentine Andes, which includes parts of the Escorpio IV deposit. Xstrata, however, claims they own the rights to the deposit.
“Xstrata is certain that it holds the mining rights to Escorpio IV, and hopes to resolve this dispute through negotiations with TNR. However, legal action will be taken if necessary,” said offcials from Xstrata, whose current investment plans include a controversial hydroelectric dam project in Aisén.
According to TNR, however, “Escorpio IV is currently registered to Solidario Argentina S.A., an Argentine subsidiary [of TNR].”
The dispute and pending negotiations has led TNR to suspend its operations in the Escorpio IV area of its Los Azules project.
The high mineral content in the Andean border region between Region III and San Juan have attracted a number of mining companies, including the controversial Pascua Lama gold mine, owned by Canada’s Barrick Gold Corporation.
SOURCE: EL MERCURIOBy Carter Koppelman "