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Tournigan's Uranium Targets Continue to Expand
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Vancouver, March 19, 2008 -- Tournigan Gold Corporation (TVC:TSX-V;
TGP: Frankfurt) has completed an airborne magnetic and radiometric
survey on its uranium licences in eastern Slovakia. The survey was
flown by McPhar Geosurveys Ltd. and identified 25 priority targets in
addition to the known deposits within Tournigan's uranium licences.
"This airborne survey confirms the considerable potential of the
uranium mineralization within our licences in Slovakia," said James
Walchuck, Tournigan's president and CEO. "Within our licences, we cover
the most important portions of the Slovak Carpathian uranium belt. We
are now following up with a detailed radiometric ground survey to
identify drill targets."
The purpose of the survey was to acquire high resolution radiometric
data in order to map the anomalies and locate potential economic
uranium mineralization.
Within the CJ licence (32 km2), which hosts the Kuriskova deposit, the
survey highlighted uranium and gamma anomalies that were traced for
approximately four kilometres on surface to the northwest of the
Kuriskova deposit.
Within the Spisska Nova Ves exploration licence (13 km2), which hosts
the Novoveska Huta deposit, anomalies appear to correspond to uranium
mineralization east of Tournigan's mining licence area.
Within the Kluknava licence (28 km2), located at the centre of the
Carparthian uranium belt, historic exploration and drilling confirmed
the area has similar geology to that of Kuriskova. The survey
identified new anomalies occurring in the western portion of the
licence.
The survey on the Spisska Teplica licence (45 km2) highlighted areas
with known historical resources and outlined new additional targets.
The airborne survey, consisting of 16,253 line kilometers, was flown by
McPhar Geosurveys Ltd. Flight lines were orientated almost north-south
at a spacing of 100 metres and tie lines were orientated almost
east-west at a spacing of 1,000 metres.
A follow up ground radiometric program will be initiated on these
anomalies as soon as the snow is off the ground with the intention of
establishing drill targets by the fourth quarter of this year.
Detailed maps of the airborne survey can be found on Tournigan's web
site at http://www.tournigan.com/i/pdf/Maps_031908NR.pdf.
Michael Mracek, P. Eng., Tournigan's chief operating officer, and a
Qualified Person as defined by National Instrument 43-101, has reviewed
and approved the technical disclosure contained herein.
Annual General Meeting Results
Tournigan's Annual and Special Meeting ("AGM") was held on Friday,
March 14, 2008. The following matters were approved at the AGM as set
out in the Information Circular dated February 4, 2008 and available at
www.sedar.com.
1. The number of Directors was set at seven (7) and Messrs. Peter
Bojtos, Michael Hopley, Rex McLennan, David Montgomery, Hein Poulus,
Ronald Shorr and James Walchuck were elected as Directors of Tournigan.
2. KPMG LLP were re-appointed as Tournigan's auditors.
3. Tournigan's Stock Option Plan was renewed.
4. Tournigan shareholders approved the following special resolutions:
(a) Name change from Tournigan Gold Corporation to Tournigan Energy
Ltd. or such other name as the Directors may in their sold discretion
approve; and
(b) Continuation from the Yukon to British Columbia.
5. Tournigan shareholders approved a shareholders' rights plan. A copy
of the shareholders' rights plan is available at the Corporation's
SEDAR website.
Management and the Board of Directors thank Tournigan's shareholders
for their continued support.
About Tournigan
Tournigan has built a portfolio of highly prospective uranium and gold
properties in both Europe and North America. Tournigan is a mineral
resource company with a focus on developing its best projects.
Tournigan has obtained licenses in countries that are economically and
politically stable, have good infrastructure, and a highly educated
population.
On behalf of the Board of Directors of
TOURNIGAN GOLD CORPORATION
"James Walchuck"
James Walchuck, President and CEO
Forward-looking statements: Certain of the statements made herein,
including any information as to the Corporation's future financial or
operating performance, may be forward-looking and subject to important
risk factors and uncertainties, many of which are beyond the
Corporation's ability to control or predict. Forward-looking statements
are necessarily based on a number of estimates and assumptions that are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. Known and unknown factors could cause
actual results to differ materially from those projected in the
forward-looking statements. Such factors include, among others: gold
and uranium price volatility; impact of any hedging activities,
including margin limits and margin calls; discrepancies between actual
and estimated production, between actual and estimated reserves and
resources and between actual and estimated metallurgical recoveries;
changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in Canada,
the United States, Slovakia, Ireland or other countries in which the
Corporation does or may carry on business in the future; risks of
sovereign investment; the speculative nature of gold and uranium
exploration and development, including the risks of obtaining necessary
licenses and permits; dilution; competition; loss of key employees;
additional funding requirements; and defective title to mineral claims
or property. In addition, there are risks and hazards associated with
the business of gold and uranium exploration, development and mining,
including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance or inability to obtain
insurance, to cover these risks), as well as the factors described or
referred to in reports filed by the Corporation with the Canadian
securities administrators. Accordingly, readers should not place undue
reliance on forward-looking statements. The Corporation undertakes no
obligation to update publicly or release any revisions to
forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated
events.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
For further information please contact:
Knox Henderson, Tournigan Investor Relations, at +(604) 637-3563, or
visit www.tournigan.com
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Copyright (c) 2008 TOURNIGAN GOLD CORPORATION (TSXV-TVC) All rights
reserved. For more information visit our website at
http://www.tournigan.com/ or send mailto:info@tournigan.com
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