TNR Gold Announces Extension of $250,000 Non-Brokered Private Placement
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NEWS RELEASE
TNR Gold Announces Extension of $250,000 Non-Brokered Private Placement
Vancouver, British Columbia – February 16, 2022 : TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR
Gold” or the “Company”) is pleased to announce that, further to its news release of December 22, 2021,
it is extending the closing date if the non-brokered private placement (the “Private Placement”) to March
15, 2022. The Private Placement consists of up to 5,000,000 units (each a “Unit”) at a price of $0.05 per
Unit to raise up to CAN $250,000. Each Unit will consist of one common share of the Company and one
half of a non-transferable common share purchase warrant (each a “Warrant”). Each whole Warrant will
be exercisable into one common share in the capital of the Company at an exercise price of CAN $0.075
per share for two years from the date of issue.
The proceeds of the Private Placement will be used for exploration, maintenance of the Shotgun Gold
project and for general working capital purposes. All Private Placement securities will be restricted from
trading for a period of four months plus one day from the date of closing.
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become the green energy metals royalty and gold company.
Over the past twenty-six 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 entire 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 entire 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 Compa ny would receive $900,000 on the completion of the
repurchase. The project is currently being advanced by Ganfeng Lithium International Co. Ltd.
TNR holds a 7% N PR holding o n the Batidero I and II properties with Josemaria Resources Inc.
Josemaria Resource s is part of the Lundin Group, a portfolio of companies producing a variety of
commodities in over 20 countries worldwide.
1055 Dunsmuir Street, Suite 3500
Vancouver, British Columbia
V7X 1H7, Canada
T: +1 (604) 229-8129
E-mail: [email protected]
Website: http://www.tnrgoldcorp.com
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TNR provides significant exposure to gold through its 90% holding in the Shotgun Gold porphyry project
in Alaska. The project is located in South western 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 partner ship 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 Exch ange) 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, Ganfeng Lithium’s and Josemaria Resources’ 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 oth er 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 govern ment agencies when paying rental
payments for such mining claims requested by these agencies. There could be a risk in the future of the
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changing internal policies of such government agencies or risk related to the third parties challenging in
the future t he 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. , Ganfeng Lithium
and Josemaria Resources 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. Excep t as required by law, the Company assumes no
obligation to update forward -looking information should circumstances or management’s estimates or
opinions change.