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Re: News Release - Thursday, July 19, 2007
Tournigan Project Updates
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Tournigan Gold Corporation (TVC:TSX-V; TGP:Frankfurt) is pleased to
announce that drilling has commenced at three of its properties in
Slovakia. In the United States drill programs are underway at
Tournigan's gold properties and will commence shortly at its uranium
properties. Drilling is also ongoing on its Irish gold property.
Slovakia
Tournigan's premier uranium project Kuriskova, has an inferred resource
of approximately 3.6 million tonnes grading 0.49 percent U3O8, or 38.9
million pounds of U3O8, and a lower grade component of 5.4 million
tonnes grading 0.1 percent U3O8, or 11.5 million pounds of U3O8, as
calculated by ACA Howe International Ltd., in May 2007, (see May 7,
2007 news release for details). At Kuriskova, two drill rigs are
actively infill drilling the near surface part of the deposit. Five
drill holes have been completed. A deep drill exploration program on
the southeast edge of the Kuriskova deposit is planned to test the
continuation of the deposit at depth later this year.
Novoveska Huta, a former producing uranium deposit, had a historic
resource of 12 million tonnes of 0.075 percent U3O8 or approximately 20
million pounds of U3O8, calculated by the former Slovak operator
Uranovy Prieskum at the time of its closing in 1985. This historic
resource is roughly analogous to the CIM category of an inferred
resource. While Tournigan considers these historic estimates to be
relevant and reliable, a qualified person (as defined in NI 43-101) has
not done sufficient work to classify them as current mineral resources
or mineral reserves, and Tourigan is not treating them as such. Since
the historic resource cannot be relied upon by the Company, a seven
hole drill program was designed to twin a number of the historic
surface drill holes. If successful, the surface drill hole data will
then be used to calculate a resource to CIM standards. Two
Diamonddrills have completed three of seven verification holes.
An airborne geophysics program is currently underway over the 40
kilometer trend covering the four Tournigan uranium exploration
licences. This program, which takes radiometric and magnetometer
readings, is designed to locate additional uranium exploration targets
that may exist on the Company's licences. The program is 35 percent
complete.
At the Kremnica gold project, one drill has commenced metallurgical and
infill drilling as part of an optimization program. A second will be on
the property at the end of the month to conduct geotechnical drilling.
United States
Tournigan entered into an option agreement with Sweetwater River
Resources LLC (Sweetwater) in 2005, in which Tournigan can acquire an
85% interest in certain uranium properties held by Sweetwater. The
Company can acquire the remaining 15% interest in said properties at
fair value.
Tournigan has identified uranium potential in 29 of the 120 breccia
pipes targets on the Sweetwater optioned properties in the northern
Arizona Strip uranium district. Pathfinder elements, which are key
indicators to the presence of uranium below the surface, have been
found at all 29 pipes. Especially significant was the discovery of
uranium at surface on 14 of the 29 pipes. Uranium samples found at
surface range from a low of 17 ppm to 1780 ppm (0.178%) U.
Permitting on 9 of 18 Arizona locations identified as high priority
targets is complete. All 18 targets are expected to be permitted by
August, in time for drilling to commence. The current plan calls for at
least 20,000 metres of drilling to take place on the breccia pipes.
Drill permits are now in hand in Wyoming, where the Sweetwater optioned
ground covers 37 kilometres in strike length of potential uranium roll
front mineralization in the western half of the Great Divide Basin.
Infill drilling of a historic deposit, as well as step-out exploration
drilling, is slated to begin in early August.
At the US gold properties, Tournigan has an earn-in agreement with
Au-Ex Ventures. The partner companies have completed an initial four
hole drill program at Gypsum Valley and have moved the drill over to
the Fireball Ridge property. The initial phase of drilling on these
Nevada properties is expected to be complete in the next ten days.
Ireland
At the Curraghinalt gold deposit,
Diamond drilling is ongoing. The
Company is drilling off gold anomalies slightly north of the current
262,000 ounce resource. The program will also further increase the
understanding of the deposit.
Curraghinalt is a high-grade mesothermal quartz-sulphide gold vein
system. The deposit consists of a swarm of gold-bearing quartz veins,
hosting an inferred resource of 262,018 ounces of gold from 527,000
tonnes grading 15.45 g/t gold (Tully, January 2005).
Tournigan expects to issue results from all of its drill programs as
they become available.
Mike 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.
Tournigan has built a portfolio of highly prospective uranium and gold
properties in both Europe and North America. The Company intends to
develop its best prospects. Tournigan has focused its efforts in
countries that are economically and politically stable, have good
infrastructure and a well educated population.
On behalf of the Board of Directors of
TOURNIGAN GOLD CORPORATION
"James Walchuck"
James Walchuck, President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This press release includes certain "Forward-Looking Statements" within
the meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical fact, included herein, including without limitation,
statements regarding potential mineralization and reserves, exploration
results and future plans of Tournigan are forward-looking statements
that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
Contact Patrick Soares, Vice President, Investor Relations at +1 (604)
683-8320, or visit www.tournigan.com
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Copyright (c) 2007 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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