TNR Gold Provides Los Azules Copper Royalty and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - April 6, 2017) - TNR Gold Corp. (TSXV: TNR) ("TNR" or the "Company") is pleased to announce the appointment of Maurice Brooks as Director of the Company.
Mr. Brooks was appointed Interim Chief Financial Officer of the Company earlier this year. He is a licensed senior statutory auditor in the UK and has been a senior partner in Johnson, Smith & Co., Chartered Accountants and Statutory Auditors since 2000. Previously, he was Finance and Deputy Managing Director of a vehicle producer, an Investment Accountant for the Western Australian Government, and served in the audit department of PricewaterhouseCoopers, UK.
"Mr. Brooks brings a unique skillset to the board of directors of TNR and shares our vision to move the Company forward," stated Kirill Klip, Executive Chairman of TNR Gold Corp.
Los Azules Project, Argentina
In a news release dated March 1, 2017, McEwen Mining Inc. ("MM") reported on its 100% owned Los Azules copper project, located in San Juan province, Argentina. MM reported that US $6.4 million was allocated to drilling in the first quarter of 2017 and an additional US $3.2 million is committed to other works and studies to advance the Los Azules project. TNR holds a 0.36% Net Smelter Returns Royalty ("NSR") on the Los Azules project.
Information on MM, including news releases, is available under the MM profile on SEDAR at www.sedar.com and on the MM website, where further details of the Los Azules project can be found.
Kirill Klip further commented, "I am pleased to see that McEwen Mining is continuing to advance exploration at Los Azules. Strength in copper prices recently reported in the media is encouraging and with the new business friendly environment in Argentina, we hope that this will have a positive impact on the project."
Other News
The Company announces the appointment of Patricia Fong, CPA, CMA, as Chief Financial Officer. Patricia Fong brings over twenty years of experience working with public companies in the resource sector.
The Company also announces that John Harrop has resigned from his position as Vice President, Exploration. The Company would like to thank Mr. Harrop for his many years of service and his technical guidance in helping to build the Company's current portfolio of projects.
ABOUT TNR GOLD CORP.
Over the past twenty-two years, TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe. With the Company's expertise, resources and industry network, it identified the potential of the Los Azules copper project in Argentina and now holds a 0.36% NSR on the prospect.
TNR is also a major shareholder of International Lithium Corp. ("ILC"), with current holdings of approximately 16% of the outstanding shares of ILC.ILC holds interests in lithium projects in Argentina, Ireland and Canada.
TNR also has a 2% NSR royalty on the Mariana lithium brine project in Argentina under which ILC can purchase half (1%) for US $1 million. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska (the Shotgun gold porphyry project) and Argentina, and is committed to continued generation of in-demand projects, while diversifying its markets and building shareholder value.
On behalf of the Board of Directors,
Kirill Klip
Executive Chairman
For further information concerning this news release please contact +1 604-700-8912
Neither 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.
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or conditions "may" or "could" occur. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While our management believes that the assumptions made are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.