Vancouver, British Columbia -- July 2012 -- TNR Gold Corp. (the "Company") Further to the announcement on July 5th, 2012 pertaining to the launch of the Shotgun Gold project in Alaska, TNR is pleased to report that exploration and camp preparation is on schedule for a start of drilling planned for July 15th.
Objectives of the 2012 Shotgun Gold Project include:
• Infill drilling to support a new resource calculation after field season;
• Test new geophysical targets identified in 2011;
• Further test at depth feeder zones discovered in 2006, and
• Geophysical surveys of other ridges for new, structural, drill targets.
The geophysics contractor is setting up the first of several 3D
resistivity and chargeability survey areas across the property at
Winchester, the southern-most prospect of the Shotgun Project. Ground
based magnetics are also planned in conjunction with the primary survey.
Locations of additional geophysical grids will include extension of the
2011 survey at Shotgun Ridge to further define features identified at
the edge of that survey.
In anticipation of the project financing earlier this year, TNR
management utilized in-house and contract services to effectively
complete planning and permitting while assembling a field team for
geology, drilling, geophysics and support services. TNR continues to
apply its strategic plan to be able to respond quickly to opportunities
and build shareholder value.
Mr. John Harrop, VP of Exploration notes, "We are fortunate to be
drilling a zone that is within Shotgun Ridge and not under a valley.
This geometry means that there is less cover to drill through than we
would encounter in a valley bottom and that translates to a cost saving
in drilling, and better resolution in the geophysical surveys.
Ultimately, should an economic deposit be proven here, we expect it to
reduce the footprint and benefit mining efficiency."
About the Shotgun Gold Project
TNR holds a 100% interest in the Shotgun property located 175 kilometres
south of Donlin Creek within the Kuskokwim Gold Belt in southwestern
Alaska. This area is emerging as a world-class gold district hosting
more than 40 million ounces of aggregated gold resources. The Shotgun
property includes a number of prospects, including Shotgun Ridge and
nearby Winchester. Donlin is an intrusion-associated system and
represents one of the largest undeveloped gold deposits in the world.
The Company believes that there are several key similarities between
prospects on the Shotgun property and that of the Donlin Creek gold
deposit as well as other important intrusion-associated deposits.
Previous work at Shotgun Ridge by NovaGold Resources Inc. in 1998
estimated an historical resource of 980,000 ounces grading 0.93 grams
per tonne (g/t) at a cut-off of 0.5 g/t (This estimate was made prior to
NI43-101 and has not been verified by a Qualified Person. It is
provided for historical information and should not be relied upon).
John Harrop, PGeo, FGS, a Qualified Person for TNR Gold Corp. as defined
by NI 43-101 has reviewed the technical information contained in this