Vancouver B.C.: TNR Gold Corp. (“TNR” or the “Company”) announces that it has become aware of a news release issued by Minera Andes Inc. (“MAI”) on December 16, 2010 disclosing results of an updated preliminary assessment at the Los Azules project (“Project”).
As most recently disclosed by the Company in its press release of November 4, 2010, the Company is involved in a legal dispute with MAI regarding TNR’s interest in the Project. As a result, a qualified person of TNR (within the meaning of National Instrument 43-101) has not been able to verify the information disclosed by MAI, and, thus, such information should not be relied upon by TNR shareholders.
The Los Azules project is an advanced exploration project in Argentina. TNR’s wholly owned subsidiary, Solitario Argentina S.A., has served notice exercising its 25 per-cent back-in right to certain of the properties comprising the Project. Solitario’s right to back into the properties is the subject of a lawsuit filed by Minera Andes, and the terms of the back in right are the subject of litigation between Solitario and Xstrata.
We encourage interested parties to review the Amended Statement of Defence and Counterclaim in their entirety on our website for a better understating of our position. The link for this information is as follows:
It should be noted that the Statement of Defence and Counterclaim are not intended to be, and should not be interpreted as, sources of factual, business or operational information about TNR or any of its affiliates. The Statement of Defence and Counterclaim contain assertions that have been prepared solely for use in connection with the legal dispute with MAI and Xstrata, have not been proven and should, therefore, not be relied upon.