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TNR Gold Receives $800,000 on Debenture Loan Repayment

Vancouver, British Columbia–(Newsfile Corp. – February 11, 2019) – TNR Gold Corp. (TSX-V: TNR) (“TNR” or the “Company“) is pleased to announce that it received CAD $807,272.60, representing principal and interest due on up to the date of principal repayment on February 7, 2019, which was due from International Lithium Corp. on a convertible debenture acquired by TNR on November 24, 2017 with a maturity date of January 31, 2019.

“I am very pleased that we have addressed another important issue for TNR’s 2019 business plan and we have considerably improved our working capital and strengthened the balance sheet,” commented Kirill Klip, Executive Chairman of TNR.

“The TNR team has the full and unconditional support of the Company’s investment loan capital provider who supports our business plan and long-term strategic initiatives. It’s clear that the decision of our investment loan capital provider earlier this year, to extend the due date of the investment loan by 3 years, is a resounding show of confidence in TNR’s long-term business strategy, asset portfolio and management team. We have the resources to concentrate our efforts on building a premier green energy metals royalty company by maximizing the value of our royalty portfolio of copper and lithium projects that are instrumental in the electric vehicle and green energy sectors, investigating new strategic acquisitions, and development of the Shotgun Gold project in Alaska.

With increased working capital, it should be pointed out that we do not have to contribute any capital to our royalty holdings on the Los Azules copper project and on the Mariana Lithium Project in Argentina. The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership with one of the major gold mining companies given a project of this magnitude. TNR is actively introducing the project to interested parties. The essence of our business model is to have industry leaders like McEwen Mining and Ganfeng Lithium as operators on the projects that will potentially generate royalty cash flows to contribute and develop significant long-term value for our shareholders.”

Director John Davies added, “TNR Gold has carefully nurtured its asset model to coincide with the enormous growth of the electric vehicle and ‘green energy’ sector and now, with increased working capital, we can continue to build long-term shareholder value with existing projects while carefully analyzing business opportunities.”

ABOUT TNR GOLD CORP.

TNR Gold Corp. is working to become the green energy metals royalty company.

Over the past twenty-three 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 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 Southwestern Alaska near the Donlin Gold project, which is being developed by Barrick Gold and Novagold Resources Inc.

The Company’s strategy with the Shotgun Gold Project is to attract a joint venture partnership 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-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 www.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 to TNR; or that TNR will be able to achieve any of its corporate objectives. 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 levels 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 should circumstances or management’s estimates or opinions change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42743

 

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