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Re: News Release - Wednesday, September 30, 2009
Tournigan Sells Curraghinalt Gold Project
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Vancouver, September 30, 2009---Tournigan Energy Ltd. (TVC: TSX-V; TGP:
Frankfurt) announced today the sale of its Curraghinalt gold project in
Northern Ireland to SA Resources, Ltd. The Curraghinalt project was
previously the subject of an option agreement with C3 Resources (see
news release dated December 23, 2008) which subsequently assigned its
rights under the option agreement to SA Resources. The terms of the
sale are:
1. SA Resources will pay Tournigan an initial payment of C$2.5
million on or before October 26, 2009. On making this payment, SA will
own 100 percent of the shares of Dalradian Gold Ltd., the Northern Irish
company that holds the Curraghinalt gold licenses; and
2. SA Resources will provide a secured promissory note to
Tournigan for C$3 million which shall be due and payable on or before
December 31, 2009.
"We are pleased that SA Resources has purchased the Curraghinalt gold
project and will be in a position to advance what for us had become a
non-core asset," said Tournigan's president and CEO, Dorian L. (Dusty)
Nicol. "The acceleration of cash payments to Tournigan represents a
non-dilutive financing which will allow us to resume aggressive
exploration on our core asset, the high-grade Kuriskova uranium deposit
in Slovakia."
About Tournigan
Tournigan is a uranium exploration and development company that has
built a portfolio of highly prospective assets in Slovakia, a member of
the European Union since 2004. Slovakia is economically and
politically stable, has excellent infrastructure and, as of January 1,
2009, has adopted the Euro currency. Tournigan is committed to safe and
sustainable exploration and mine development in Slovakia. In addition
to Kuriskova, Tournigan has five other exploration targets along the
Slovakian uranium belt which are showing positive exploration results.
TOURNIGAN ENERGY LTD.
"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO
Neither the 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.
For further information please contact: Knox Henderson, Tournigan
Energy Investor Relations, at (604) 683-8320, or visit
www.tournigan.com.
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Copyright (c) 2009 TOURNIGAN ENERGY LTD. (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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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : TVC.V |
ISIN : CA8915651035 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Tournigan Energy Ltd. is a gold and silver exploration company based in Canada. Tournigan Energy Ltd. holds various exploration projects in Slovakia. Its main exploration properties are NOVOVESKA HUTA and KURISKOVA in Slovakia and CURRAGHINALT in Ireland. Tournigan Energy Ltd. is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.2 millions as of today (US$ 948 313, € 880 072). Its stock quote reached its highest recent level on December 31, 2007 at 4.50, and its lowest recent point on February 17, 2023 at 0.02. Tournigan Energy Ltd. has 47 442 200 shares outstanding. |