LEGAL DISCLAIMER
Kirill Klip, the Company’s Executive Chairman commented, “I welcome John Wisbey as an active member of our team and the TNR Board. TNR is working to become an energy metals royalty company. We are advancing strategic market opportunities for our royalty holdings in McEwen Mining’s Los Azules Copper project in Argentina as well as other royalties in strategic commodities such as lithium, and such strategic stakes as the Shotgun Gold investment project. The Company will be expanding its reach in overseas markets such as London in order to facilitate the active management of its projects portfolio. John will oversee the Company’s capital market operations and strategic transactions.”
TNR Gold - Rob McEwen: "Los Azules Copper Represents The Single Biggest Value Creator Currently In Our Portfolio."
We have another update on giant Los Azules Copper project progress in Argentina from McEwen Mining Q2 Earnings Call. These extracts are from Seeking Alpha transcript:
"Rob McEwen: Our large Los Azules copper project has advanced significantly and we will be releasing in September a new preliminary economic assessment and it will show that we have significantly lowered the CapEx and improved the economics. While we're intensely focused on being a precious metal company, I strongly believe that Los Azules represents the single biggest value creator currently in our portfolio.
CFO: Secondly, at our Los Azules copper project in Argentina, we are in the process of completing the updated PEA and the results should be announced later in the third quarter. With the completion of the seasonal drill campaign, we have seen a drastic reduction in our expenditures there.
President & COO: At the Los Azules project also in Argentina, during the second quarter we dedicated ourselves to complete up work to the field campaign completed during the first quarter of the year which focused on supergene, high grade, enrichment zone definition and improving it's continuity. The results obtained from drilling are now being used to refine our understanding of the deposit.
Engineering work continued to define our project configuration, mine plants and infrastructure, which will be reflected in the new preliminary economic assessment, on track to be finalized in the third quarter of this year." Read more.
Another very good news for the project:
Argentina and Chile to resume a 20-year-old treaty that opens the borders between two countries to mining projects.
McEwen Mining AGM 2017 presentation.
Please Note that TNR Gold Qualified Person - as it is defined by NI 43-101, was NOT able to Verify and Confirm Any Provided Information by The Third Parties; you must NOT rely in any sense on any of this information in order to make any Resource or Value Calculation, or attribute any particular Value or Price Target to any Discussed Securities.
Vancouver B.C. August 23, 2017: TNR Gold Corp. (TSX-V: TNR) (“TNR” or the “Company”) is pleased to announce John Wisbey, Deputy Chairman of TNR, has increased his shareholding in the Company through a series of market purchases to a total of 7,497,000 common shares, representing 5.004% of the common shares outstanding. Mr. Wisbey also holds options to purchase up to 1,550,000 common shares, representing diluted shareholdings of 5.977%.
Kirill Klip, the Company’s Executive Chairman commented, “I welcome John Wisbey as an active member of our team and the TNR Board. TNR is working to become an energy metals royalty company. We are advancing strategic market opportunities for our royalty holdings in McEwen Mining’s Los Azules Copper project in Argentina as well as other royalties in strategic commodities such as lithium, and such strategic stakes as the Shotgun Gold investment project. The Company will be expanding its reach in overseas markets such as London in order to facilitate the active management of its projects portfolio. John will oversee the Company’s capital market operations and strategic transactions.”
ABOUT TNR GOLD Corp.
TNR Gold Corp. is working to become an energy metals royalty company. 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 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 the 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,
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.
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