TNR Gold Chairman’s Letter to Shareholders with Corporate Update
NEWS RELEASE
TNR Gold Chairman’s Letter to Shareholders with Corporate Update
Vancouver, British Columbia – February 23, 2021 : TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR
Gold” or the “ Company”) is pleased to provide a corporate update from Kirill Klip, Chairman of TNR
Gold.
"I’m a strong believer in personal interest,” stated Mr. Klip. "It’s very encouraging when it’s aligned with
that of the shareholders. To that end, I’m pleased that other insiders of the Company hav e joined me in
our recent private placements. While I am the largest individual shareholder of TNR Gold, it’s crucial for
me that all of us at the TNR Gold Team are personally motivated to succeed. It’s because of this that
shareholders can trust us to adv ance the Company forward with great passion. Our recent private
placement was oversubscribed and we are well-positioned now to develop further our portfolio of strategic
assets in gold and Energy rEVolution metals.
Kirill Klip continued, "Our forward-thinking approach is allowing us to integrate our strategic portfolio with
the international capital markets, while maintaining effort s to minimize dilution for all our shareholders.
During these favourable macro -economic conditions for gold and green energy metals, we have been
enjoying an entirely new level of attention and participation from certain f inancial institutions. This will
allow us to accelerate the development of the Shotgun Gold Project as well as continue to advance our
royalty portfolio within the next chapter of business: Green Energy Metals. We maintain the potential of
adding to our co re royalty holdings on the Los Azules Copper Project with McEwen Mining and the
Mariana Lithium Project under the management of Ganfeng Lithium.”
TNR Gold holds NSR royalties on projects containing copper, gold, silver and lithium metals. TNR Gold
does not have to contribute any capital for the development of Los Azules Copper Project and Mariana
Lithium Project. Neither does our NSR Royalty depend on the size of International Lithium's potentially
diluted ownership in the Mariana Lithium Project. The essence of our business model is to have 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.
The Company’s strategy with the Shotgun Gold Project is to attract a partnership with one of the major
gold mining companies. TNR Gold has successfully consolidated and updated its mining claims in Alaska
and is actively introducing the project to interested parties. Kirill Klip added, “There is a clear path on how
to move this project forward using the geological and geophysical research currently available to target
drilling to expand the resource and form the basis of a preliminary economic analysis. The next step is to
acquire a partner that shares our vision and recognizes the growth potential and value to be added to the
Shotgun Project over time.
I would like to thank all our shareholders for your support and on your behalf, I would like to thank our
1177 West Hastings Street, Suite 2300
Vancouver, British Columbia
V6E 2K3, Canada
T: +1 (604) 229-8129
E-mail: [email protected]
Website: http://www.tnrgoldcorp.com
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very talented TNR Gold Team that is building The Green Energy Metals Royalty and Gold Company."
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 Ma riana 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 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 Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
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Except for statements of historical fact, this news release contains certain “forward -looking information”
within the meaning of applica ble 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 condition s “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 subj ect 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 t he 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 forw ard-looking information should circumstances or management’s estimates or
opinions change.