TNR Gold Responds to Market Activity and Provides a Corporate Update
NEWS RELEASE
TNR Gold Responds to Market Activity and Provides a Corporate Update
Vancouver, British Columbia – July 2, 2020: TNR Gold Corp. (TSX-V: TNR) (“TNR”, “TNR Gold” or
the “Company”) is responding to a request from the Investment Industry Regulatory Organization
of Canada (“IIROC”), following recent trading activity in its common shares. The Company is not
aware of any corporate developments or other reason for the recent increase in market activity,
and there has been no material change or information to report under applicable securities laws
that would account for recent unusual trading activity in its common shares.
“The times in which we find ourselves bring the mining industry face to face with some particular
challenges, but it is within which lies the opportunity of embracing gold’s unique value through
which it reminds us of its ultimate purpose; its solid, dependable reliability throughout uncertain
times that makes it such an ultimate hedge. TNR Gold’s strategy with the Shotgun Gold Project
is to attract a partnership with one of the major gold mining companies. The Company is actively
introducing the project to interested parties,” commented Kirill Klip, Executive Chairman of TNR.
“We may be at the beginning of a great discovery. 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.”
Kirill Klip continued, “We are building the green energy metals and gold company. Energy
rEVolution requires secure supply lines of the critical strategic metals like copper and lithium.
Our forward-thinking approach allows us to integrate our company into the international capital
markets and mining industry in order to accelerate the development of Shotgun Gold Project
and extend our royalty portfolio in Green Energy Metals, potentially adding to our core royalty
holdings on the Los Azules Copper Project with McEwen Mining and the Mariana Lithium Project
under the management of Ganfeng Lithium.”
ABOUT TNR GOLD CORP.
TNR Gold Corp. is working to become the green energy metals royalty and gold company.
Over the past twenty-four 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
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 $900,000 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 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-
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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 ww w.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 t o 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 level s 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 sh ould circumstances or management’s estimates or
opinions change.