Resource Estimate Completed At Shotgun Gold Project

VANCOUVER, BC - TNR Gold Corp. reported the completion of a resource estimate at the Shotgun Gold project in Alaska. The Shotgun Ridge prospect contains an inferred mineral resource of 20,734,313 tonnes at 1.06 grams per tonne (g/t) for a total of 705,960 ounces gold (Au) using a 0.5 g/t Au cut-off.

TNR Gold is targeting a bulk mineable gold deposit at the Shotgun Gold project and is highly encouraged with the recent resource calculation.

The Shotgun project contains several gold targets, with most of the historic work having been carried out at Shotgun Ridge. The results of this resource estimate are an indicator to the Company that the Shotgun Ridge may prove up additional resources with further drilling.

The Company believes that the reported grade of 1.06 g/t Au at a 0.5 g/t Au cut-off is a realistic target for continued resource expansion and that this grade and cut-off combination is in line with other bulk mineable gold deposits in the region. Based on the recently identified structural model of mineralization and associated geophysical signatures that are duly coincident with the mineral resource shell and the mineralization model parameters, there are several targets at surface in close proximity to the defined resource that have never been drill tested. These targets will be a priority for future drill campaigns.

The mineralization at Shotgun Ridge is located at surface on a topographic high point and is only defined to a vertical depth of 150m. Mineralization appears to be open both at depth and along strike. Combined with geophysical interpretations indicating additional near surface potential for mineralization. The Company believes that a multi-million ounce gold deposit might exist in this single, small target area.

The Company is currently reviewing options on the best manner in which to move the project forward, including acquiring a strategic or joint venture partner.

Kirill Klip, Non-Executive Chairman of TNR, stated, "We are at the beginning of a great discovery. There is a clear path on how to move this project forward using the geological and geophysical investigations to target drilling and define sufficient resources to the 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."