TNR Gold Reports on Mariana Lithium Royalty Holding
NEWS RELEASE
TNR Gold Reports on Mariana Lithium Royalty Holding
Vancouver B.C. April 24, 2019: 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 January 28, 2019, International
Lithium Corp. (TSX-V: ILC) (“ILC”) issued a news release on April 12, 2019 related to the Mariana Lithium
project in Salta Province, Argentina. TNR Gold holds a 1.8% Net Smelter Returns (“NSR”) Royalty on
the Mariana Lithium project.
The news release issued by ILC state d, “As a result of cash calls made up to the present date, the
Company's share in Mariana will reduce from 17.246% to 15.392% by the end of April 2019. A budget of
US$4.25 million has been set by the manager for May and June 2019. If expenditure indeed reaches that
level, the Company's share in Mariana would reduce further to 13.607 %. The Company retains a back-
in right entitling it to increase this percentage by a further 10%, i.e. to 23.607%.”
Kirill Klip, Executive Chairman of the Company commented, “We are very pleased to see that Ganfeng
Lithium is advancing the Mariana Lithium project in Argentina towards further pre-feasibility studies. The
Mariana Lithium preliminary economic assessment (“PEA”) , as announced in our news release o f
January 28, 2019, was the first PEA on the project that provided a potential value for the total NSR
Royalty from Mariana’s life of mine cashflow. TNR Gold does not have to contribute any capital for
development of Mariana Lithium and our NSR Royalty does not depend on the size of ILC’s share in
Mariana Lithium. The 1.8% Mariana NSR Royalty is an 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.”
Resignation of COO
The Company also announces that Anthony Kovacs, Chief Operating Officer of TNR Gold has resigned
from the Company. He currently serves as COO and director of ILC. The Company would like to thank
Mr. Kovacs for his service to TNR Gold.
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become the green energy metals royalty company.
Over the past twenty-three years, TNR, through its lead generator business model, has been successful
in generating high -quality exploration projects around the globe. With the Co mpany’s expertise,
resources and industry network, it identified the potential of the Los Azules copper project in Argentina
1111 Melville Street, Suite 1100
Vancouver, British Columbia
V6E 3V6, Canada
T: +1 (604) 229-8129
E-mail: [email protected]
Website: http://www.tnrgoldcorp.com
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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 $900,00 0 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 and lithium through its holdings in Alaska
(the Shotgun Gold porphyry pr oject) 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 co ntains 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-
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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 appro priate
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 thi s 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.