TNR Gold Royalty Holding Update: ILC Reports Ganfeng Subsidiary Litio Minera Argentina Assumes All Rights And Obligations In Respect Of Mariana Lithium.

Kirill Klip, Executive Chairman of the Company commented, “We are pleased with the great news regarding Ganfeng Lithium, our NSR Royalty holding and advance of the Mariana Lithium Project to construction. I am also very pleased to see that this deal between ILC and Ganfeng Lithium included confirmation that Ganfeng’s subsidiary, Litio Minera Argentina, assumes all rights and obligations that ILC had in respect of the Mariana Lithium Project, including in respect to TNR Gold NSR Royalty Holding. Ganfeng Lithium has now consolidated 100% of the Mariana Lithium Project and advanced it to the construction stage. 

This news comes after a 55% increase in the measured and indicated resource estimate from the previously announced 2020 increase of more than 250% in measured and indicated resources at the Mariana Lithium Project. We extend our congratulations to Ganfeng and salute the people of Argentina on the celebration of ‘Pachamama’ – the ritual that thanks the earth for all that we receive from it. This ritual was performed at Mariana Lithium in September after successful approval of the Environmental Impact Report by the Salta regional government in Argentina and approvals for the construction of a plant with a designed annualized capacity of 20,000 tonnes per annum of lithium chloride.

We are very pleased to see that this new plan represents a 100% increase of the previously planned lithium annual production rate presented in the Mariana Project preliminary economic assessment (“PEA”), announced in our news release of January 28, 2019. It was the first PEA on the project and provided a potential value for the total NSR Royalty from Mariana’s life of mine cashflow, which has now been very significantly increased. We welcome the news from the Salta regional government, following its discussions with Ganfeng, that the likely project expenditure to bring the Mariana Project to full production is approximately US$600 million.

TNR does not have to contribute any capital for the development of the Mariana Project. The 2.0% Mariana NSR Royalty on the Mariana Project with Ganfeng Lithium is a very important part of TNR Gold’s portfolio, (TNR holds a 0.2% NSR on behalf of a shareholder). The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

TNR Gold:

TNR Gold Royalty Holding Update: ILC Reports Ganfeng Subsidiary Litio Minera Argentina Assumes All Rights And Obligations In Respect Of Mariana Lithium.

"Vancouver, British Columbia – October 21, 2021: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that, further to the Company’s news release dated September 27, 2021, International Lithium Corp. (“ILC”) announced the completion of the sale to Ganfeng Lithium of ILC’s remaining 8.58% stake in Litio Minera Argentina S.A., the owner of the Mariana Lithium Project in Salta, Argentina. The deal included confirmation that Ganfeng’s subsidiary, Litio Minera Argentina, would assume all rights or obligations that ILC had in respect of the Mariana property. TNR Gold holds a 2.0% net smelter returns (“NSR”) royalty on the Mariana Lithium Project.

ILC’s news release issued on October 20, 2021 stated:

“The Company announced on September 21, 2021 that it had contracted to sell its remaining 8.58% stake in Litio Minera Argentina S.A. and the Company’s remaining rights and obligations related to the Mariana project to ILC’s partner Ganfeng Lithium. The deal included confirmation that Litio Minera Argentina would assume all rights or obligations that the Company had in respect of the Mariana property. On October 4, 2021 the Company announced that it expected this sale to complete in mid-October. Completion has now taken place.”

Kirill Klip, Executive Chairman of the Company commented, “We are pleased with the great news regarding Ganfeng Lithium, our NSR Royalty holding and advance of the Mariana Lithium Project to construction. I am also very pleased to see that this deal between ILC and Ganfeng Lithium included confirmation that Ganfeng’s subsidiary, Litio Minera Argentina, assumes all rights and obligations that ILC had in respect of the Mariana Lithium Project, including in respect to TNR Gold NSR Royalty Holding. Ganfeng Lithium has now consolidated 100% of the Mariana Lithium Project and advanced it to the construction stage. 

This news comes after a 55% increase in the measured and indicated resource estimate from the previously announced 2020 increase of more than 250% in measured and indicated resources at the Mariana Lithium Project. We extend our congratulations to Ganfeng and salute the people of Argentina on the celebration of ‘Pachamama’ – the ritual that thanks the earth for all that we receive from it. This ritual was performed at Mariana Lithium in September after successful approval of the Environmental Impact Report by the Salta regional government in Argentina and approvals for the construction of a plant with a designed annualized capacity of 20,000 tonnes per annum of lithium chloride.

We are very pleased to see that this new plan represents a 100% increase of the previously planned lithium annual production rate presented in the Mariana Project preliminary economic assessment (“PEA”), announced in our news release of January 28, 2019. It was the first PEA on the project and provided a potential value for the total NSR Royalty from Mariana’s life of mine cashflow, which has now been very significantly increased. We welcome the news from the Salta regional government, following its discussions with Ganfeng, that the likely project expenditure to bring the Mariana Project to full production is approximately US$600 million.

TNR does not have to contribute any capital for the development of the Mariana Project. The 2.0% Mariana NSR Royalty on the Mariana Project with Ganfeng Lithium is a very important part of TNR Gold’s portfolio, (TNR holds a 0.2% NSR on behalf of a shareholder). The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

The ILC press releases and website material appear to be prepared by Qualified Persons and the procedures, methodology and key assumptions disclosed therein are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify ILC’s information to determine the current mineral resource or other information referred to in its press releases. Accordingly, the reader is cautioned in placing any reliance on the disclosures therein.

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Over the past twenty-five 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 0.4% NSR Royalty on the project, which is being developed by McEwen Mining Inc, (TNR holds a 0.04% NSR on behalf of a shareholder).

In 2009, TNR founded International Lithium Corp. (“ILC”), a green energy metals company that was made public through the spin-out of TNR’s energy metals portfolio in 2011. ILC held interests in lithium projects in Argentina, Ireland and Canada.

TNR retains a 2.0% NSR Royalty on the Mariana Lithium Project in Argentina with Ganfeng Lithium, (TNR holds a 0.2% NSR on behalf of a shareholder). Ganfeng’s subsidiary, Litio Minera Argentina, has a right to repurchase 1.0% of the NSR Royalty on the Mariana Project, of which 0.9% relates to the Company’s NSR Royalty interest. The Company would receive $900,000 on the completion of the repurchase. The project is currently being advanced by Ganfeng Lithium International Co. Ltd.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The Company’s strategy with Shotgun Gold Project is to attract a joint venture partnership with one of the gold major mining companies. The Company is actively introducing the project to interested parties.

At its core, TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and Argentina (the Los Azules Copper and the Mariana Lithium projects) and is committed to the 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

www.tnrgoldcorp.com

For further information concerning this news release please contact +1 604-229-8129

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, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s corporate objectives, changes in share capital, market conditions for energy commodities, the results of McEwen Mining’s and Ganfeng Lithium’s PEAs, and improvements in the financial performance of the Company. 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 “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s profile on www.sedar.com. While management believes that the assumptions made and reflected in this news release 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. In particular, there can be no assurance that: TNR will be able to repay its loans or complete any further royalty acquisitions or sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties challenging in the future the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR and its royalty partners, McEwen Mining Inc. and Ganfeng Lithium will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

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."

Alastair Ford: "TNR Gold Likely To Be A Big Beneficiary As McEwen Copper Starts To Get Things Moving At Los Azules."

“I am very pleased to see this very exciting and significant development for the Los Azules Copper Project and personal support by Rob McEwen of the newly created McEwen Copper,” stated Kirill Klip, TNR’s Executive Chair. “It’s very encouraging to see a large 53,000-metre drilling program following the personal commitment from Rob McEwen and his investment of US$40 million to advance the rapid development of this giant copper, gold and silver deposit in an appropriate corporate structure which will allow financing and further development of the Los Azules Copper Project.

TNR Gold holds a 0.36% NSR royalty on the entire Los Azules project containing copper, gold and silver metals. TNR Gold does not have to contribute any capital for the development of the Los Azules Copper Project. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Proactive:

TNR Gold likely to be a big beneficiary as McEwen Copper starts to get things moving at Los Azules

Alastair Ford

"TNR is transforming itself into the go-to gold and energy metals royalty company

How likely is it that the giant Los Azules copper, gold and silver project in Argentina could get even bigger?

The question is material for TNR Gold Corp (TSX-V:TNR, OTC:TRRXF), which owns a 0.36% net smelter royalty across the whole project, and it’s becoming pertinent too because things are at last starting to happen at Los Azules.

During the summer of 2021 Rob McEwen, the investment titan behind McEwen Mining, put together a new vehicle called McEwen Copper, which he plans to list within 12 months. The idea is to use McEwen Copper to take Los Azules into production.

And, lest anyone doubt the seriousness of his intent, McEwen himself put US$40mln of his own money into the new vehicle, which will initially be seeded with a total of US$80mln.

It’ll take a lot more than that to get Los Azules built, but the show is now on the road, and TNR Gold can start looking forward to what’s likely to be substantial and sustained cash flow from its royalty.

How much cash flow?

A preliminary economic assessment was conducted on Los Azules in 2017 which showed the project would likely become the world’s 25th largest copper producer on commencement of mining.

Based around the numbers then produced and a US$3.00 copper price it was estimated that TNR would likely receive annual income of around US$3.5mln.

The copper price is around 30% higher than the assumption used in the 2017 calculation, and there’s also the question of the eventual size of the project once further work has been done - a 53,000 metre drilling programme is about to get underway.

So all told, TNR’s income looks likely to be very substantial indeed.

But what’s it worth in today’s money?

The question is somewhat hypothetical, since TNR’s chief executive Kirill Klip doesn’t seem inclined to sell the asset, and is currently hold his cards close to his chest on that score.

On the other hand, it ought to have a bearing on TNR’s own market capitalisation, especially now that after a long period of activity Los Azules has come alive again.

One way of working it out is to look at similar deals. There aren’t many around of course, but last year’s acquisition by Nova Royalty Corp of a 0.24% net smelter royalty on the First Quantum’s Taca Taca project in Argentina does provide a baseline.

Nova Royalty Corp paid US$12.75mln for a smaller-sized royalty than TNR’s - which, remember is  0.36% NSR - and at a time when the copper price was much lower.

Some in the market calculate that TNR’s royalty on Los Azules ought to be worth at least US$20mln on that basis, and probably considerably more.

McEwen himself has argued that Taca Taca serves as a good proxy for Los Azules.

And, when you consider that TNR’s own market capitalisation is currently a mere C$9.4mln, it starts to become clear just how much value is on offer.

Because remember, Los Azules isn’t TNR’s only asset.

It also owns a royalty on the huge Mariana lithium project in Argentina that’s own by Ganfeng Lithium and which is now going into construction.

And up in Alaska it continues to seek partners for the highly prospective and potentially huge Shotgun gold project.

So there’s plenty to be enthusiastic about.

Klip’s vision of creating a green energy metals royalty company is moving forward and, what’s perhaps the nicest thing for TNR shareholders, it’ll be McEwen Copper that will doing the heavy lifting when it comes to spending money and not TNR.

All TNR has to do is ride along and rake in the cash when it starts to flow.

“Our business model provides the unique entry point into the creation of supply chains for critical materials like energy metals which are powering the Tesla energy revolution, and the gold industry which is providing the ultimate hedge during this part of the economic cycle,” says Klip.

“Our shareholders are participating in the building up of TNR as the go-to green energy metals royalty and gold company. In our portfolio, we have a unique combination of assets providing exposure to different parts of mining cycle, starting with the power of blue sky discovery and including partnerships with industry leaders like McEwen Mining and Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Mining Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please read my legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blogs. Always consult a qualified financial adviser before any investment decisions. 

Do Your Own Research.

TNR Gold Royalty Holding: Lithium Hits New All-Time High Supercharging M&A For The Best Brine Projects In Argentina - Ganfeng Team Presents Mariana Lithium In Salta.

 

Lithium hits new all-time high in China supercharging M&A activity in Argentina for the best lithium brine projects. CATL bought out Millenial Lithium and Zijin Mining has announced the acquisition of Neo Lithium. 

Ganfeng Lithium has consolidated 100% of the Mariana Lithium Project and moving it fast forward towards construction with its US$600 million investment plan. TNR Gold is plugged into Tesla Energy rEVolution with our NSR Royalty Holding on the entire Mariana Lithium Project.

There are only around 50 salars located within the Antofallos-Pocitos volcanic rift valley in the high Andean plain, even less of them contain lithium brine which can be used for the economic production of lithium. All the best lithium brine projects are going out to the giant companies which will be trying their best to put them in production to secure supply of this critical metal for the Tesla Energy rEVolution.

Even fewer of these projects will be in the hands of those who already know how to build efficient production of battery-grade lithium. Now you can better appreciate the industrial might and power of Ganfeng Lithium and the value proposition of TNR Gold NSR Royalty Holding on the entire Mariana Lithium Project. 

Chart by Nichols Winton

Industry insiders are already "kicking the tires" and we are hearing more and more very exciting estimations about potential valuations for the Royalties in the best lithium projects. TNR Gold's "Rising Value Proposition" will be very hard to ignore for the naughty Mr Market anymore.

Ganfeng has gained a lot of experience while building up with Lithium Americas Cachari-Olaroz Lithium Project into the production stage. They became not only one of the largest lithium companies in the world but the authority in the industry which requires a deep understanding of the best available extraction technology and its successful implementation process. Every salar is a unique chemical soup, which requires the exact recipe to produce the best results. 

Ganfeng has this unique know-how, technology and capital to move things fast now in Argentina. US$600 million investment plan, including solar power plant to power the operations, gained praise from the Governor of Salta. All green lights to go into construction were issued by local authorities and REMSA after Environmental Impact Report was approved for 20,000 T of LCE lithium chloride production. 

Last week Ganfeng Lithium Team in Argentina presented Mariana Lithium Project in Salta to the local government. A very important slide from the Ganfeng presentation for TNR Gold shareholders shows that this fantastic increase of 100% in planned lithium production rate is called now "Phase 1"! 

I consider my personal investment in TNR Gold, as a unique entry point into the state of the art vertically integrated lithium business being built by Ganfeng Lithium for the 21st century. We are building The Green Energy Royalty and Gold Company and participating in the creation of secure supply lines feeding The Switch and Tesla Energy rEVolution. On my blog following the links below, you can find more information about TNR Gold Corp. and our Royalty Holdings. Do your own research, as usual, stay safe and prosper. Join rEVolution.    

TNR Gold Corp's Kirill Klip Presents Ganfeng’s US$600 Million Investment Plan For Mariana Lithium Project In Argentina.

"Electric cars are taking over our streets one by one. Everybody is talking about lithium now. There are a lot of dreams about lithium - we are in the solid lithium business with one of the largest lithium companies in the world - a giant from China Ganfeng Lithium. We have found our lithium a long time ago and now TNR Gold is holding NSR Royalty on the entire Mariana Lithium Project in Argentina, which is moving fast into the construction phase with Ganfeng's US$600 million investment plan."

Kirill Klip, Executive Chairman 

TNR Gold Corp. 

Please visit the TNR Gold website for all updated presentations.

Please read my legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blogs. Always consult a qualified financial adviser before any investment decisions. 

Do Your Own Research.

TNR Gold Announces Advancement Of Mariana Lithium Project To Construction By Ganfeng Lithium.

 

Kirill Klip, Executive Chairman of the Company commented, “We are pleased with the great news when it comes to Ganfeng Lithium and the Mariana Lithium Project. I am also very pleased to see that Ganfeng Lithium has consolidated 100% of the Mariana Lithium Project and advanced it to the construction stage. This news comes after a 55% increase in measured and indicated resources following the previously announced 2020 increase ​of more than 250% in measured and indicated resources from the 2017 resource estimate at Mariana Lithium Project. We extend our congratulations to Ganfeng and salute to people of Argentina on the celebration of ‘Pachamama’ – the ritual that thanks the earth for all that we receive from it. This ritual was performed at Mariana Lithium in September after successful approval of the Environmental Impact Report by the Salta regional government in Argentina and granted approvals for the construction of a plant with a designed annualized capacity of 20,000 tonnes per annum of lithium chloride.

We are very pleased to see that this new plan represents a 100% increase of previously planned lithium annual production rate presented in the Mariana Project preliminary economic assessment (“PEA”), announced in our news release of January 28, 2019. It was the first PEA on the project and provided a potential value for the total NSR Royalty from Mariana’s life of mine cashflow, which has now been very significantly increased.

We welcome the news from the Salta regional government following its discussions with Ganfeng that the likely project expenditure to bring the Mariana Project to full production is approximately US$600 million.

TNR does not have to contribute any capital for the development of Mariana and our NSR Royalty does not depend on the size of ILC’s diluted ownership in the Mariana Lithium Project. The 1.8% Mariana NSR Royalty on the entire Mariana Lithium Project is a very important part of TNR Gold’s portfolio. The essence of our business model is to have industry leaders like Ganfeng Lithium as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

Alastair Ford: "TNR Gold Set To Be Major Beneficiary Of Ganfeng’s Proposed US$600mln Investment In The Mariana Lithium Project."

 

TNR Gold Royalty Holding Update: Rob McEwen Invests US$40 Million In McEwen Copper, Prepares 53,000-metre Drilling Program For Los Azules.

“I am very pleased to see this very exciting and significant development for the Los Azules Copper Project and personal support by Rob McEwen of the newly created McEwen Copper,” stated Kirill Klip, TNR’s Executive Chair. “It’s very encouraging to see a large 53,000-metre drilling program following the personal commitment from Rob McEwen and his investment of US$40 million to advance the rapid development of this giant copper, gold and silver deposit in an appropriate corporate structure which will allow financing and further development of the Los Azules Copper Project.

TNR Gold holds a 0.36% NSR royalty on the entire Los Azules project containing copper, gold and silver metals. TNR Gold does not have to contribute any capital for the development of the Los Azules Copper Project. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

TNR Gold Los Azules Copper NSR Royalty Holding with McEwen Mining Presentation from Kirill Klip

Please visit the TNR Gold website for all updated presentations.

Please read my legal disclaimer. There is NO investment advice on any Kirill Klip feeds and blogs. Always consult a qualified financial adviser before any investment decisions. 

Do Your Own Research.

TNR Gold:

TNR Gold Royalty Holding Update: Rob McEwen Invests US$40 Million In McEwen Copper, Prepares 53,000-metre Drilling Program For Los Azules.

"Vancouver, British Columbia – October 4, 2021: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or the “Company”) is pleased to announce that, further to the Company’s news release dated July 8, 2021, McEwen Copper Inc. (“McEwen Copper”), has closed the first tranche of its private placement announced on July 6^h, 2021, for gross proceeds to McEwen Copper of $40,000,000.

Rob McEwen’s investment corporation, Evanachan Limited, purchased all the shares issued pursuant to the first tranche of the private placement. McEwen Copper, 81% owned by McEwen Mining Inc. (“McEwen”), is rapidly advancing work on the Los Azules project following the completion of the US$40 million private placement.

The news release issued by McEwen on September 29, 2021, stated:

“The McEwen Copper division, 81% owned by McEwen Mining, is rapidly advancing work on the Los Azules project following the completion of the US$40 million first tranche private placement financing announced August 23, 2021. The second tranche of the private placement is expected to close shortly. Preparations are underway for a large 53,000-meter drilling program targeting the upgrading of Inferred mineral resources to the Indicated category. The first 2 drill rigs are arriving in early November 2021, ramping up to the full complement of 10 drills by January 2022. Access to the project is currently being established on the existing exploration road, which has been safely cleared by crews 48 miles (78 km) of the route, approximately three quarters of the way to the project. Construction of a new all-season lower altitude access road is underway, with completion expected in H2 2022.

McEwen Copper has engaged an experienced group of professionals and consultants to guide the Los Azules project towards the pre-feasibility study stage, including Dave Tyler, Study Director, Gary Cochran, Project & Construction Manager, and Bill Thomas, Manager of Business Improvement & Operational Readiness.”

“I am very pleased to see this very exciting and significant development for the Los Azules Copper Project and personal support by Rob McEwen of the newly created McEwen Copper,” stated Kirill Klip, TNR’s Executive Chair. “It’s very encouraging to see a large 53,000-metre drilling program following the personal commitment from Rob McEwen and his investment of US$40 million to advance the rapid development of this giant copper, gold and silver deposit in an appropriate corporate structure which will allow financing and further development of the Los Azules Copper Project.

TNR Gold holds a 0.36% NSR royalty on the entire Los Azules project containing copper, gold and silver metals. TNR Gold does not have to contribute any capital for the development of the Los Azules Copper Project. The essence of our business model is to have industry leaders like McEwen Mining as operators on the projects that will potentially generate royalty cashflows to contribute significant value for our shareholders.”

ABOUT TNR GOLD Corp.

TNR Gold Corp. is working to become the green energy metals royalty and gold company.

Over the past twenty-five 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 Royalty on the entire project, which is being developed by McEwen Mining Inc.

In 2009, TNR founded International Lithium Corp. (“ILC”), a green energy metals company that was made public through the spin-out of TNR’s energy metals portfolio in 2011. ILC holds interests in lithium projects in Argentina, Ireland and Canada.

TNR retains a 1.8% NSR Royalty on the Mariana Lithium Project in Argentina. ILC has a right to repurchase 1.0% of the NSR Royalty on the Mariana Lithium Project, of which 0.9% relates to the Company’s NSR Royalty interest. The Company would receive $900,000 on the completion of the repurchase. The project is currently being advanced in a joint venture between ILC and Ganfeng Lithium International Co. Ltd.

TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project in Alaska. The project is located in Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The Company’s strategy with Shotgun Gold Project is to attract a joint venture partnership with one of the gold major mining companies. The Company is actively introducing the project to interested parties.

At its core, TNR provides significant exposure to gold, copper, silver and lithium through its holdings in Alaska (the Shotgun Gold porphyry project) and Argentina (the Los Azules Copper and the Mariana Lithium projects) and is committed to the 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

www.tnrgoldcorp.com

For further information concerning this news release please contact +1 604-229-8129

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, although not all forward-looking statements contain these identifying words. Specifically, forward-looking statements in this news release include, but are not limited to, statements made in relation to: TNR’s corporate objectives, changes in share capital, market conditions for energy commodities, the results of McEwen Mining’s and ILC’s PEAs, and improvements in the financial performance of the Company. 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 “Risks” and “Forward-Looking Statements” in the Company’s interim and annual Management’s Discussion and Analysis which are available under the Company’s profile on www.sedar.com. While management believes that the assumptions made and reflected in this news release 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. In particular, there can be no assurance that: TNR will be able to repay its loans or complete any further royalty acquisitions or sales; debt or other financing will be available to TNR; or that TNR will be able to achieve any of its corporate objectives. TNR relies on the confirmation of its ownership for mining claims from the appropriate government agencies when paying rental payments for such mining claims requested by these agencies. There could be a risk in the future of the changing internal policies of such government agencies or risk related to the third parties challenging in the future the ownership of such mining claims. Given these uncertainties, readers are cautioned that forward-looking statements included herein are not guarantees of future performance, and such forward-looking statements should not be unduly relied on.

In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting TNR and its royalty partners, McEwen Mining Inc. and International Lithium Corp. will continue substantially in the ordinary course, including without limitation with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

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."