"Vancouver, British Columbia – June 23, 2020: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce the close of the final tranche of the non-brokered private placement (the “Private Placement”) of up to 13,3333,333 units (each a “Unit”) announced on April 14, 2020 and May 21, 2020. On closing of the final tranche, the Company issued 3,400,000 Units at $0.03 per Unit for proceeds of $102,000. Each Unit consists of one common share of the Company and one non-transferable common share purchase warrant exercisable into one common share of the Company at an exercise price of $0.05 per share for five years from the date of issue.
The proceeds of the Private Placement will be used for exploration and maintenance of the Company’s projects in Alaska and Argentina, management consulting fees, office administration, regulatory fees, audit, legal and IT.
All Private Placement securities will be restricted from trading for a period of four months plus one day from the date of closing.
Kirill Klip, Executive Chairman of the Company and a non-arms’ length party, participated in this Private Placement. The issuance of private placement securities to non-arms’ length parties constitutes related-party transactions under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Because the Company’s shares trade only on the TSX Venture Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Section 5.7(b). The Company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of insiders of the Company had not been confirmed at that time."
“We are not dreamers,” he says. “We did it with the copper. We did it with the lithium. I would like to make it even bigger with the gold. I would like to do better, to keep a 25% stake.”
It’s a vision for growth that makes a lot of sense. In tough markets, where capital is scarce, this kind of approach may well end up being a model that others choose to follow too."
Drilling resumes at Donlin Gold after two-month Covid pause
"Canada-based project partners Novagold and Barrick Gold have reopened the Donlin camp, in Alaska, and are remobilising drilling rigs at project, following a two-month hiatus during the Covid-19 pandemic.
Novagold reports that four drill rigs are turning at its 50%-owned Donlin project and says that most of the planned programme, aimed at confirming recent geological modelling concepts and testing potential extensions of high-grade zones, will be completed by year-end.
The 2020 drill programme consists of about 80 holes, totalling 22 000 m, centred on the ACMA and Lewis resource areas.
Novagold has implemented enhanced health protocols for personnel, including people working at Donlin Gold’s Anchorage office and the project site. The policy includes, among other things, that all personnel should take a Covid-19 test before coming into the Donlin Gold camp and again when they leave. Out-of-state contractors/employees require two negative Covid-19 tests prior to going to camp.
President Gregory Lang notes that half of Donlin Gold’s employees are Native Alaskans and that the company has held weeks of conversations with community and tribal leaders in the Y-K region to ensure safety precautions for personnel met the needs of each community.
“The company seeks to bring tangible, long-lasting benefits to all of its community partners in the form of training and employment opportunities, service business contracts, and participation agreements as the project advances,” he adds. 
CREAMER MEDIA DEPUTY EDITOR ONLINE"
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