TNR Gold Corp. (“TNR”) is pleased to present the following assay results pertaining to a recently completed diamond-drilling program totalling 4,489 metres in 16 holes at the La Carolina gold project, San Luis province, Argentina. This information has been derived from a news release issue by Latin American Minerals Inc. (“LAT”), the project operator, on September 14, 2007
DDH-Lat 3, drilled on the La Luisa target, intersected 333m averaging 0.24 g/t Au (the entire length of the hole). The gold grade increases with depth. The hole was terminated at 338m in a quartz pyrite stockwork averaging 0.4 g/t Au over 78m (from 260m to 338m). Included in this section are several narrow higher-grade intersections including 3 g/t Au over 1m (from 260m to 261m) and 0.92 g/t Au over 3m (from 280m to 283m). This long mineralized interval remains open to depth as well as to the north and west.
Holes DDH-Lat 6 and DDH-Lat 21, drilled in the Mogote target, intercepted long intervals with base-metal and gold mineralization. DDH-Lat 6 returned 401.3m at 0.14 percent Zn (the entire length of the hole) including 119m at 0.35 percent Zn and 0.14 percent Pb (from 227 m to 346 m) and 28m at 0.78 percent Zn and 0.23 percent Pb (from 227m to 25 m). DDH-Lat 21 returned 176m at 0.12 percent Zn (from 237m to 413m) and 70m at 0.34 g/t Au (from 249m to 319m). These holes are located below a trench that returned 1 g/t Au over 30m and a historical hole that returned 0.54 g/t Au over 60m including 5.7 g/t Au over 4m. The results indicate that the gold content decreases and base metal content increases at depth.
Of the remaining targets, Olguin (one hole) returned 0.3 g/t Au across 2m (from 140m to 142m) and La Ilusion (one hole) yielded no significant gold or base metal results. The targets El Corte (two holes), El Camino (one hole) and La Virgen (two holes) have pending assays from the laboratory.
The results are encouraging and suggest that this mineralization could be peripheral to a higher-grade system. These drill results demonstrate an extensive length of gold and base metal mineralization, which suggests that the La Carolina is a highly mineralized system. Further work will be required to define the resource potential of these targets.
Latin American Minerals Inc. (“LAT”) can earn an undivided 75% interest in the project by making cash payments totaling US$125,000 and issuing a total of 225,000 common shares to TNR and Geocom Resources Inc. (“Geocom”) (each divided 50/50 between Geocom and TNR) and carrying out staged exploration programs over five years, which must aggregate US$1,000,000 to earn its interest.
This news release has been prepared under the supervision of John Fraser, P.Geo (BC), TNR’s Qualified Person as defined by NI-43-101
On Behalf of the Board,
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. News release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.