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Message: Eureka Property Update
| April 16, 2009 |
| TNR Gold Corp.'s Eureka Property Update |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) - TNR Gold Corp. (TSX VENTURE:TNR)(PINK SHEETS:TRRXF) ("TNR" or the "Company") is pleased to provide an update on the Eureka project, a copper-gold prospect located in the province of Jujuy, Argentina. On April 15, 2009 the Company accepted an irrevocable offer from Antonio Giulianotti ("property optionor") and Soltera Mining Corp. ("Soltera") to amend the terms of the option agreement dated March 21, 2007. TNR was originally granted a right to acquire a 75% interest in the Eureka property by expending US$2,650,000 in exploration by April 30,2010 and making option payments of US$350,000 (US$200,000 paid) by December 19, 2008. The amended agreement suspends the US$150,000 payment due from December 19, 2008 to December 19,2009 provided TNR pays the property optionor US$20,000 upon acceptance of the offer and four payments of US$10,000 on or before the 19th day of May, July, September and November of 2009. The Company must also pay the expenses needed to keep the property in good standing.The property optionor and Soltera will continue to be bound by the original agreement until December 18, 2009 at which time TNR will have the sole option to return the property and terminate the original agreement or renegotiate the terms of the original agreement. All payments made by TNR pursuant to the amended agreement will be applied to the option payments in any renegotiated agreement. THE EUREKA PROJECT The 10,192.34 hectare Eureka property is located in the northwest corner of Jujuy Province in northern Argentina, near the border with Bolivia. The property is accessible from the provincial capital of San Salvador de Jujuy, approximately 4 hours to the south, and easy access within the property by a series of gravel roads. ABOUT TNR TNR is a diversified metals exploration company focused on identifying new prospective projects globally with 19 properties currently in its portfolio. The recent acquisition of Lithium projects in Canada 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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