Vancouver, B. C. May 25, 2017: TNR Gold Corp. (TSXV: TNR) (“TNR” or the “Company“) is pleased to announce the appointment of John Wisbey as Deputy Chairman. Mr. Wisbey has been a Director of the Company since July 2016, and an investor since 2015.
Mr. Wisbey is a technology entrepreneur and ex-banker. He founded two London AIM listed companies; IDOX plc, which provides software for Local Authority planning applications, and Lombard Risk Management plc, which creates software for risk management and regulation. He also recently established Convendia Ltd., an early stage private company which specializes in cashflow management and contingent cashflow evaluation. He was formerly a banker at Kleinwort Benson, where he held various roles, including a Director in the Derivatives Group, Head of Options and corporate lending. Mr. Wisbey has acted as a public company Chairman, CEO or Director for seventeen years. He is a graduate of Cambridge University.
Kirill Klip, the Company’s Executive Chairman commented, “TNR Gold is moving to the next stage as a public company and will advance strategic market opportunities for its royalty holdings in McEwen Mining’s Los Azules Copper project in Argentina as well as other royalties and strategic stakes in its investment projects. The Company will be expanding its reach in overseas markets such as London in order to facilitate the active management of its projects portfolio.”
Mr. Wisbey will oversee the Company’s capital market operations and strategic transactions.
Los Azules Project, Argentina
In a news release dated May 4, 2017, McEwen Mining Inc. (“MM”) reported on its 100% owned Los Azules copper project, located in San Juan province, Argentina. MM reported, “we spent $6.3 million at the Los Azules project on a combination of infill and exploration drilling, significant advances were made in determining the best logistics, power and infrastructure options and further economic and engineering modeling of the production. Results from the drilling campaign are expected to be finalised during the second half of 2017.”
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.
The Company announces that Patricia Fong has resigned as Chief Financial Officer for personal reasons. She will continue to assist the Company on a part-time basis in a non-executive role.
In a news release dated April 7, 2017 the Company listed its ownership of a NSR royalty in the Mariana project, a joint venture between Ganfeng Lithium International Co. Ltd. and International Lithium Corp., to be 2% whereas the royalty interest is 1.8%.
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. (TSX:ILC) (“ILC”), with current holdings of approximately 15% of the outstanding shares of ILC. ILC holds interests in lithium projects in Argentina, Ireland and Canada.
TNR retains a 1.8% NSR on ILC’s Mariana property in Argentina. ILC maintains a right to repurchase 1.0% of the NSR on the Mariana property of which 0.9% relates to the Company’s NSR interest. The Company would receive $900,000 on execution of the repurchase. 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,
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.